Medical cannabis industry trends for 2023

In 2022, global medical cannabis sales topped $35 billion, a 22% increase over 2021. Projections for 2023 are no less ambitious. The industry will continue to grow, and businesses that produce cannabis will continue to bring new products to market. 

 

This new article looks at the major trends in the medical cannabis industry for 2023 and their impact. 

 

Continued legalization and increased sales

In 2023, the trend of cannabis legalization will spread across many countries, leading to increased sales of marijuana products. The global cannabis market is expected to grow from $28.2 billion in 2021 to $197.7 billion in 2028 at a compound annual growth rate of 32.04%. 

 

Society will continue to show a positive attitude toward the legalization and use of cannabis products. An April 2021 Pew Research Center study found that 91% of American adults support the legalization of marijuana for both recreational and medical purposes. 

 

Therefore, the legalization trend will only increase in 2023, which contributes to the development of new research on cannabis effectiveness, as well as the emergence of more companies. This, in turn, will have the effect of increasing the value of the industry, creating new jobs and additional tax deductions for countries that legalize cannabis. 

 

Wall Street predicts that the value of the cannabis industry will reach $100 billion by 2030, given rising consumer demand and the opening of new legal markets.

The emergence of new cannabinoids

 

As early as 2023, products with new cannabinoid compounds could be on the market. In addition to developing new cannabis products in familiar and safe forms, researchers are studying the effects of other cannabinoid compounds and aiming to create varieties with higher levels of cannabinoids. These will differ from tetrahydrocannabinol (TNS) and cannabidiol (CBD).

 

 

- Cannabinol (CBN). The compound has strong sedative and sedative properties. As more research is done on its effects, preparations containing CBN will emerge. 

 

- Tetrahydrocannabivarin (THCV). Compared to the familiar THC, THCV has a stronger but short-lived psychoactive effect. This compound also has the property of suppressing appetite rather than enhancing it, unlike THC. 

 

- Cannabichromene (CBC). A non-psychoactive cannabinoid with a wide range of potential health and medical benefits. Unlike some of the compounds on this list, it is present in plants in significant amounts, making it easier to create CBC supplements.

Developing CBD and public awareness of its benefits

The health sector of the cannabis industry will also face a trend of popularizing the use of medical marijuana in 2023. It's all about a significant increase in research that proves the effectiveness of cannabis in treating epilepsy, multiple sclerosis, mental illness and even COVID-19. 

 

As scientists become increasingly aware of the potential benefits of medical marijuana, doctors are more likely to offer this treatment to their patients. Brands that originally served the medical marijuana segment will expand their work with researchers to study the effectiveness of cannabis compounds in more medical procedures. 

Technological advancement 

In 2023, the medical cannabis industry will see even greater adoption of technology to help improve production, cultivation and distribution of the final product. 

 

For example, there are already new extraction methods that can improve the effectiveness of cannabinoids in consumer products. And the growing process uses lighting and ventilation systems that require less energy, generate less heat and last longer. This leads to more production capacity, lower costs and lower consumer prices.

 

In addition, the cannabis industry is merging with the cryptosphere and blockchain. Many companies are issuing their own tokens or building transparent and secure operations on blockchain technology. Learn more about technology in the cannabis industry here. 

 

Investing in Cannabis Companies in 2023

 

The promise of investing in the medical cannabis industry, which is new to the global market, has long been talked about. And not surprisingly, as new players emerge every year to take their place in the market and offer customers unique products with scientifically proven efficacy. The year 2023 will not be an exception, and looking at all the coming trends, it will even increase the prospects and profitability of the direction. 

 

The task of investors in such conditions is to enter the market on the most favorable terms, investing even the minimum amount. The main thing is to choose the right company for investment and study its development strategy in detail.

 

S-Group partners can already be the first in the new market and join S-Pharmaceutical. It is a group of vertically integrated companies in Switzerland in the sphere of cultivation, processing, production and sales of CBD cannabis. S-Pharmaceutical uses the innovative DAO (Decentralized Autonomous Organization) technology as a tool for organizing investment activities. 

 

Thus, by joining S-Pharmaceutical, you not only become a pioneer in the innovative and modern market, but also get access to the technological investments of the 21st century.