The current population of Mexico is 129,654,299, based on the latest United Nations estimates. Mexico population is equivalent to 1.71% of the total world population.

Legalization

Mexico began changing its marijuana policy in 2009 when it decriminalized the possession of up to five grams.

Current Mexican President Enrique Pena Nietro had opposed legalizing medical marijuana nationwide as little as a year ago, but began to change his mind after a national debate on the issue in 2016.

On June 19th, 2017, Mexico legalized medical marijuana, to be regulated and studied by the Ministry of Health. The psychoactive part of cannabis, THC, is now classified as “Therapeutic” under Mexican Law.

Now, Mexico’s Ministry of Health has until mid-December, to write regulations for medical marijuana. If Mexico meets its deadline, products derived from cannabis could be available in Mexican pharmacies in early 2018 to help treat diseases like epilepsy, Parkinson’s, and cancer.

The bill was passed in April, with an overwhelming 371 members of the Lower House of Congress voting in favor, with only 19 politicians voting against or abstaining.

It also received popular support from the Mexican Senate in December, with 98 senators voting to pass the bill and seven voting against.

Forecast

With over 120 million people living in Mexico, the market for medical marijuana in Mexico has been estimated to be worth as much as US $5 billion, Forbes reported.