Though adult use markets dominate headlines, medical markets will continue to see strong revenue growth in the coming year.
California will remain the largest medical market in the country, with over $2.7 billion in sales forecast in 2018, more than 5x expected sales in Colorado ($454 million) and 10x those in Oregon ($266 million).
Newly legal medical states are likewise forecast to see strong growth in their first year of operations; both Florida and Pennsylvania expected to draw over $150 million in revenue in 2018.
Colorado is showing how to sustain a medical program even after an adult use market has opened: Despite dramatic growth in adult use demand, the state’s decline in medical use patients was limited to about 1/6 (from 111,000 in January 2014 to 93,000 by August 2017), suggesting that medical demand will remain robust even as adult use markets continue growth.
