Medical marijuana patients in Arizona bought a record 29 tons of cannabis products in 2016, a 53% increase over the 19 tons that were purchased in 2015, according to a report from the state Department of Health Services.
The sales surge could be attributed to an increase in medical marijuana patients. The program had 114,439 patients registered at the end of 2016 compared with 88,500 at the end of 2015. That’s a patient increase of 29%, according to Phoenix New Times.
As of December 2017, Arizona had 152,979 registered medical cannabis patients and more than 130 state-licensed dispensaries. Arizona’s medical cannabis program added over 38,000 patients to its rolls over the course of the year – a 34% increase – firmly establishing the state’s medical cannabis market as the third largest in the United States.
Sales of medical cannabis grew right alongside patient counts, with dispensaries moving a record 43 tons of cannabis throughout 2017. That represents a 48% increase from the 29 tons of cannabis sold in 2016.
Market Overview and Projections:
- A young, mostly male patient base forms the foundation of Arizona’s flourishing medical cannabis (MC) program. Residents 18-30 years old account for a quarter of all the state’s registered MC patients, and nearly 50% of all patients are under 40. Some 61% of Arizona’s MC patients are male.
- Over 85% of MC patients in Arizona are using MC to treat chronic pain.
- Arizona has licensed just 130 dispensaries to serve its large, growing market. This has presented an excellent opportunity for out-of-state infused product manufacturers looking to expand their reach.
- The medical cannabis business is projected to generate revenues of more than $700 million in 2020.
- Cannabis Industry
- Cannabis Market
- Cannabis Start-Up