Medical Marijuana Dispensaries Maryland
The medical marijuana business in the state of Maryland is off to an excellent start, with 71 fully-licensed medical marijuana dispensaries enjoying an extremely profitable year.
This economic growth shows no signs of slowing down, and an additional 31 dispensaries are pending approval. Maryland also boasts 14 fully-licensed marijuana growers, 16 processors, 5 approved testing labs, and 1,187 medical professionals authorized to prescribe medical marijuana.
Continue reading to learn more about the remarkable evolution and gains experienced by medical marijuana dispensaries in Maryland in their first year.
A Year of Impressive Economic Growth for Medical Marijuana Dispensaries in Maryland
Despite being in a ramp-up period, medical marijuana dispensaries in Maryland have seen sales skyrocket in the past 12 months.
Within the state, 700,000 cannabis products were sold, which earned $96.3 million for cannabis retailers.
What’s more, sales growth doubled since the first 6 months of cannabis retailing.
Keeping Up With Increased Demand
As more patients learn of cannabis’ therapeutic benefits, demand for medical marijuana quadrupled over the course of 2018.
At the beginning of 2018, there were 20,000 registered medical marijuana patients in Maryland. By the end of the year, the number climbed to approximately 55,000. Of the approved individuals, more than 29,000 are using medical marijuana to alleviate chronic pain.
What’s more, the Maryland Medical Cannabis Commission is receiving between 250-350 patient applications daily and had to hire additional staff to keep pace with the increased interest.
Will Medical Marijuana Dispensaries in Maryland Continue to be a Booming Business?
Industry experts anticipate that medical marijuana dispensaries in Maryland will continue to experience remarkable economic growth. One firm even estimated that the state could achieve a whopping $500 million in cannabis sales by 2025.
If you are looking for quality medical marijuana products from a fully-licensed Maryland dispensary, contact Dispensary Works today.
