• 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.

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