The Global Use of Medical Cannabis

Roi Polanitzer

Since the year 2000, many countries have begun to use cannabis for medical purposes, in addition to the use for scientific research which was common until then. In 2000, the total production of medical cannabis was only 1.3 tons and by 2014 the total production of medical cannabis had increased to 57.3 tons. Since other countries are considering to allow the use of medical cannabis, the overall production of medical cannabis is expected to continue to grow.

The medical cannabis market has developed rapidly over the last few years, from about 3 billion of dollars in 2013 to about 9.5 billion of dollars in 2017.

The market value of the global medical cannabis fieldis expected to continue to grow rapidly. According to a report by the Arcview Group, which specializes in mapping the global cannabis market, by 2022 the global cannabis market is expected to reach more than 30 billion of dollars annually (an annual growth rate of about 27%).

The Arcview Group also stated that the number of users of medical cannabis worldwide is expected to rise along with market growth.

The number of users of medical cannabis worldwide is expected to reach 4.7 million in 2022. Most of the growth is expected to come from countries outside North America.

Mr. Polanitzer (F.IL.A.V.F.A.) FRM, CFV, is the chief valuator and actuary of Intrinsic Value, a privately firm specializes in financial advisory and professional valuations for financial reporting, audit, statutory, regulatory, legal, tax and M&A purposes.

Mr. Polanitzer is certified as a Corporate Finance Valuator by IAVFA, Israel Association of Valuators and Financial Actuaries. In addition, Mr. Polaniter is the CEO of the Israel Association of Valuators and Financial Actuaries.