Investments in Technological Advancements to Drive
the Medical Marijuana Market
The Medical Marijuana Market is expected to be unstoppable shortly. The upcoming period
is there to dwell on predictive analytics. As such, vital information of patients through lab
results and prescriptions could be easily accessed and the subsequent course of action
could be decided upon. This effective streamlining of the hospital workflows is expected to
help a great deal in reducing duplication of patients’ data. This is how the healthcare vertical
is expected to progress.
According to a recent study by Persistence Market Research, the global medical
marijuana market is expected to witness high growth at a CAGR of around 14.8% and
reach a valuation of US$ 76.5 Bn by 2031.
Medical marijuana is derived from the Cannabis sativa plant. The three major active
compounds of the plant are tetrahydrocannabinol, cannabidiol, and cannabinol. Medical
marijuana has various applications in the healthcare and therapeutic field, including
treatment or managing pain, treating nausea, muscle spasms, managing anxiety, multiple
sclerosis, low appetite, sleep problems, and many others.
Other factors driving demand for medical marijuana include ability to manage or treat
insomnia and epilepsy. According to healthcare specialists, medical marijuana is an
effective option to manage sleep-related problems because it restores a person’s natural
sleep cycle that changes due to today’s modern lifestyle.
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Medical marijuana is also known for its strong anti-inflammatory properties. It can treat
inflammation from arthritis as well as degenerative changes in the lumbar, cervical or
thoracic spine. Many patients use marijuana to treat their pain caused due to inflammation.
Pharmaceutical companies are focused on getting approvals from different government
authorities for the use of medical marijuana for treatment purposes.
In September 2019, GW