- Research forecasts global medical marijuana space will see CAGR of 22.32% over the next decade
- Several key factors contribute to double-digit growth
- MedCana has assembled a team of pharmaceutical scientists who are some of the world’s most respected chemists
Recent forecasts for the global medical marijuana sector indicate significant growth, a trend that Software Effective Solutions (d/b/a MedCana) (OTC: SFWJ) is paying close attention to. A global infrastructure and holding company in the cannabis industry, MedCana is on a mission to become the world’s premier resource for pharmaceutical cannabis products.
The recent ResarchAndMarket.com article reported that the global medical marijuana market size was estimated to be $16.88 billion in 2023 and is expected to reach at $154.83 billion by 2034, with a CAGR of 22.32% during the 2024–2034 forecast period (https://cnw.fm/ON1OY). “Growing awareness regarding various therapeutic applications of the marijuana, a surge in permitting the usage of medical marijuana, increasing adoption of cannabis in therapeutic applications, rising research and development activities, growing prevalence of chronic diseases, and increase in acquisition of market players for the manufacturing of advanced medical products are some of the key factors boosting the market growth,” the article stated.
“The North America region is anticipated for the highest revenue share during the forecast period, owing to the surge in cannabis legalization and increasing product launches by major market players,” the article continued. “Increased launch of advanced medical products is predicted to boost the market growth during the forecast period. Medical marijuana, also known as medical cannabis, is a marijuana plant extract utilized to alleviate symptoms, illnesses, and various health conditions. Numerous North American states have relaxed laws regarding cannabis use, both for medical and recreational purposes.”
The article also noted that many other countries worldwide are following North America’s lead by legalizing cannabis. “The increasing trend of cannabis decriminalization is expected to significantly boost the development and launch of medical marijuana,” the report concluded.
With this backdrop of growing awareness and acceptance of medical cannabis, MedCana is well positioned to become an industry leader. The company has assembled a team of pharmaceutical scientists that are some of the most respected chemists in the world (https://cnw.fm/tPBhw). These experts work closely with MedCana partners and customers to create premium pharmaceutical-grade cannabis extracts that will meet the growing worldwide demand for high-quality products.
MedCana has established five companies focused on pharmaceutical cannabis production, as well as a software company focused on managing processes for plant-to-patient operations. In addition, the company recently rounded out its portfolio of holdings with the acquisition of an irrigation and greenhouse technology company.
The company’s focus is on developing clients and companies in Latin America, initially in Colombia, and partnerships with laboratories, research facilities and hospitals throughout the world. MedCana is building the technology, laboratories, growing facilities and scientific teams to provide premium pharmaceutical-grade cannabis extracts globally.
For more information, visit the company’s website at www.MedCana.net.
NOTE TO INVESTORS: The latest news and updates relating to SFWJ are available in the company’s newsroom at https://cnw.fm/SFWJ
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