According to a report by New Frontier Data, medical cannabis sales are forecast to grow to $5.3 billion in 2017, or accounting for 67% of total cannabis sales. By 2025, medical sales in currently legal states are forecast to grow to $13.2 billion and will account for 55% of all sales. Comparatively, adult-use sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. This puts emphasis on the state of California, which offers the perfect example of why it is so important to understand trends in consumer behavior. The state’s legal industry is forecast to grow from $2.8 billion in 2017, to $5.6 billion in 2020. AmeriCann Inc. (OTC: ACAN), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), Cara Therapeutics Inc. (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), AXIM Biotechnologies, Inc. (OTC: AXIM).
New Frontier also