Forecasters are seeing a radiant future for the global medical cannabis industry, according to recent research. This growth is due to a variety of factors such as the increase of chronic disease patients worldwide, strides in product approvals, and a significant change in consumer attitudes towards pursuing healthier lifestyles. But what’s really causing this green revolution? Wisdom gained from market trends and an enlightening shift in the perception of medical marijuana.

Recent studies suggest a continuing uptick in medical cannabis markets, fueled by a surge in research and development of cannabis-based medical devices. However, the high cost of these devices is a hindrance, along with safety concerns pertaining to procedural applications. Additionally, there is limited awareness regarding laser device treatments utilizing cannabinoids, which restrains the full potential of the market reach.

But never fear, the future is still green! Technical advancements in medical cannabis, combined with proactive strategy implementations by emerging market players, promise an influx of opportunities for growth. Despite the complex legal landscape and a shortage of skilled professionals, the cannabis industry shows no bounds.

According to Data Bridge Market Research, the global medical cannabis market could see a compound annual growth rate of 22.8% from 2023 to 2030. From my perspective, that’s a massive wave of green growth which we are just starting to ride.

As a disclaimer, the opinions expressed in this article don’t reflect those of High Thailand.

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Trunkee is our mascot and the mysterious master mind behind "The Daily Trunk", our news section of HighThailand for all things cannabis in Thailand.