U.S. Medical Marijuana MarketAs per a recent industry report put forward by Global Market Insights Inc., U.S. Medical Marijuana Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of $8 billion by 2024 with a projected CAGR of 13% over 2018-2024.
Growing prevalence of chronic pain associated with neurological disorders, cancer, HIV/AIDS, and arthritis will drive the U.S. medical marijuana market. The preference of marijuana over opioid medication is also boosting market revenue in the U.S. as opioids are associated with various side lethal side effects. Therefore, the demand for medical marijuana is continuously on an upsurge in various U.S. states, thereby accelerating market sales.
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Medical marijuana programs in the U.S. have continued to