Cannabis is one of the only known plant families to contain a broad suite of medicinally useful compounds. Various studies have shown that cannabis-based pharmaceutical products may have efficacy in addressing or ameliorating symptoms associated with numerous medical conditions.
Marijuana and cannabis both have the same meaning when speaking about the drug. However, botanically – talking about the plant genus cannabis is the generally accepted term. The drug, cannabis (marijuana), is produced from the Cannabis sativa or Cannabis indica plant.
Cannabis sativa contains over 421 different phytochemical compounds, including over 111 known cannabinoids, over 100 known terpenes, and over 100 known flavonoids. All the cannabinoids, terpenes and flavonoids work synergistically through the body’s endocannabinoid system to produce the pharmacological and toxicological properties of cannabis. This is known as the”entourage effect” Cannabinoid plant chemistry is far more complex than that of pure Tetrahydrocannabinol (“THC”), and different effects may be expected due to the presence of additional cannabinoids and other chemicals. Eighteen different classes of chemicals, including nitrogenous compounds, amino acids, hydrocarbons, carbohydrates, terpenes, and simple and fatty acids, contribute to the known pharmacological and toxicological properties of cannabis.
A $7.8 Billion Market by 2021
Medical and recreational Cannabis Sectors will generate annual revenues of $1.8 billion and $6 billion respectively by 2021.
The number of patients is growing at approximately 30% per quarter. Licensed producers are contributing to growth of the market through increased attendance at medical industry conferences, Individual physician engagement, and development of cannabis-specific continuing medical education programs
Recreational sales in Canada may reach $6 billion by 2021 as the legal market is replaced with the regulated adult use market. Patients in Canada will consume more than 150,000 kg of medical cannabis by the year 2021, which could equate to $1.8 billion in retail sales.Base retail cannabis market in Canada is estimated to be between $4.9 billion and $8.7 billion.