The regular consumption of psychoactive components has always been a bone of contention for societies all across the globe. Be it alcohol, caffeine, nicotine, or even higher level substances such as drugs, both pharmaceutical & illegal, there are always differing opinions about the side effects, possible benefits, potential risk factors, & questions about the consumption of said psychoactive components.
However, recent years, especially after the pandemic, have seen a rising penetration of these stimulants in everyday use. The one calling most attention from governments & societies worldwide is cannabis. Primarily known for its biphasic effect on consumers, cannabis is also widely popular for its pain relieving, sedating, & anti-inflammatory properties.
Over the past few years, the use of cannabis has been on a constant rise, especially around North America, where it is being fully legalized & decriminalized. More and more countries across the region are legalizing this drug for both recreational & medicinal uses. Considering these aspects, a recent research report by MarkNtel Advisors has projected around 27.7% CAGR for the North America Cannabis Market during 2022-27.
The Current Trends of Cannabis Consumption in North America
A psychoactive derivative of the Cannabis plant, also popularly known as marijuana, is a drug obtained from the dried leaves and flowers of the plant. This popular drug is consumed extensively for its therapeutic, medicinal, and even relaxing & recreational properties. The active component of cannabis responsible for the above-cited properties is Delta-9 tetrahydrocannabinol (THC).
In North America, countries like the United States, Canada, & Mexico have been experiencing a changing landscape in terms of complete legalization & decriminalization of cannabis. As a result, there have been remarkable changes in its usage for both medicinal & recreational purposes in recent years. Moreover, several studies have suggested a prominent role of this drug in treating patients with chronic pain, mental disorders, sleeping problems, & nausea, among others.
However, to be used as a medicinal drug, there are higher checks on the quality & purity of cannabis strains. Moreover, along with the constantly growing personal usage of marijuana, the FDA & several state governments across North America have a higher responsibility to ensure proper guidelines for regulating its legalized sales & consumption.
A Huge Potential of the Cannabis Industry in the Years to Come
As the social & medical acceptance of cannabis being a regularly consumable drug grows, we now look toward legal & administrative aspects of the same. Various countries in North America are known to have not just massive consumption but also splendid endorsement & legalization of cannabis & its related products.
The years ahead are likely to show systemic changes in the acceptance of cannabis as a legal drug that can be purchased through prescriptions for medicinal uses, like the way it already is in some regions. Moreover, with the increasing options for consuming this drug, there is also a greater chance of it becoming more convenient to access for medical & personal uses. Besides, the fact that cannabis can be an impressive substitute for some pharmaceutical drugs, like for patients with terminal illnesses & chronic pain and those looking for alternative procedures for treatment & medication, shall also be instrumental in driving its demand over the years.
A bunch of pressure groups & research institutes are working ardently to help overcome the existing stigma associated with the use of marijuana by highlighting the critical benefits of this psychoactive yet medicinal plant. Several other countries in the region are likely to assess its legalization, at least for healthcare purposes, which, in turn, would generate lucrative opportunities for the leading companies operating in the North America Cannabis Market in the forthcoming years.