Marijuana is a green, brown or grey mixture of dried, shredded leaves, stems, seeds and flowers of the hemp plant Cannabis sativa. Marijuana, also known as cannabis, is used as a psychoactive recreational drug for certain medical ailments and religious and spiritual purposes. Sinsemilla, hash/hashish, and hash oil are stronger forms of marijuana.
It is used as a whole, an unprocessed marijuana plant or its basic extracts to treat symptoms of illness and other conditions. The marijuana plant is of two types i.e., Sativa and Indica. These two types are used to manufacture medicines, having different types of properties when exposed to the body.
The beneficial properties of marijuana for health is attracting several country’s governments and health institutions in the world to legalize the use of medical marijuana. For instance, it is used to reduce chronic body pains. In addition, the physician also recommends Marijuana for the treatment of diseases such as Spinal Cord Injury, Spinal Cord Disease, Cancer, HIV/AIDS, Arthritis, Epilepsy among others. That’s the reason why Marijuana is legalized in the world.
Although the plant contains hundreds of medicinal properties, it also contains several compounds, the one that has major intoxicating effects is called tetrahydrocannabinol (THC).
Potential Market Drivers
Increasing use of marijuana in medical treatment, growing number of medical marijuana clubs, and legalization and adoption of marijuana in several countries are the driving the demand for marijuana worldwide. Moreover, increasing use of marijuana in treating the pain of chronic diseases due to cancer, arthritis, and HIV/AIDS is gaining attention from physician across the globe.
Legalization of Marijuana
Marijuana is no more a thing to mark the occasion legally. However, there are places all over the world where marijuana use is not a crime — but laws vary widely on how you use it such as medicinal or recreational use and there are stringent restrictions on how it can be sold and grown. Uruguay became the first country to completely legalize marijuana in 2001, On the other hand, medical marijuana has been lawful in Canada since 2001. Apart from that, Peru, the Netherlands, Switzerland, and South Africa are some of the countries where medical marijuana is traded.
The increasing legalization of marijuana across the globe looks inevitable. Despite the fact that it harms human health, the prospect of an entirely new legal industry devoted to both medical and pleasure use has certainly stimulated the markets and will eventually lead to considerable profit for the right investors and companies. Though the government of some countries is legalizing the use of marijuana that doesn’t mean that marijuana use is entirely harmless.
A number of leading companies are stepping into the business of marijuana with huge investments. In mid-2018, Constellation Brands, an alcohol conglomerate invested $4 billion into a marijuana startup, Canopy. The conglomerate is among the largest legal marijuana businesses emerging in Canada, the first major economy to legalize cannabis on a national scale.
Use of Illegal Marijuana in the U.S.
While medical marijuana is legal in a few states of the United States, it is one of many illegal drugs in most of the countries. Specifically, laws in most states deem it illegal to engage in possession of marijuana, either for the purpose of your own use or for the purpose of distributing it to others.
Illegal Marijuana is the most commonly used and traded drug in the U.S. Its use is widespread among young people in the country. In 2015, more than 11 million young adults around 18 to 25 used marijuana. In addition, the rates of marijuana use among middle and high school students have dropped or levelled off in the past few years after several years of increase. However, the number of young people below 35 who believe regular marijuana use is risky is decreasing.