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Medical and Recreational Marijuana Growing in the US Industry Market Research Report Now Available from IBISWorld

New York, NY (PRWEB) April 09, 2015

The Medical and Recreational Marijuana Growing industry has flourished over the five years to 2015. For decades, all marijuana transactions in the United States were conducted under implicit or explicit prohibition. However, states have increasingly moved to legalize nonprofit marijuana for medical purposes, as well as to implement regulations for organizations that sell cannabis. “The growing acceptance of medical marijuana is providing growers and investors with unprecedented opportunities,” says IBISWorld Industry Analyst Dmitry Diment. “There has been no shortage of demand in recent years, as the industry has benefited from increased acceptance of the legitimacy of medical marijuana products.”

Recently, the legalization of recreational marijuana in Colorado and Washington has spurred additional demand for the industry. In 2014, the licensing of commercial recreational marijuana growers in these states contributed to industry revenue growth of 54.7%. In addition to the favorable regulatory environment in these states, medical marijuana growers have continued to benefit from the steadily aging population. Chronic illnesses have become more prevalent as the population continues to age, driving demand for medical marijuana. Overall, the industry is expected to experience annualized revenue growth of 30.2% to $ 1.9 billion in the five years to 2015, including growth of 25.1% during the current year.

According to Diment, however, “The industry will remain at risk until the federal government definitively changes its position on the legality of marijuana. Until then, a growing number of medical marijuana patients, as well as a burgeoning recreational cannabis legalization movement, will spur demand for the industry.” Rising demand is also forecast to widen profit margins, as is the success of the for-profit recreational marijuana business in Colorado and Washington. In particular, the next five years are expected to see the growth of large commercial cultivators, who will benefit from strong recreational demand across a number of states, including Alaska, Oregon and the District of Columbia.

For more information, visit IBISWorld’s Medical and Recreational Marijuana Growing in the US industry report page.

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IBISWorld industry Report Key Topics

This industry’s establishments grow marijuana for medical and recreational use. Most operators are nonprofit collectives that provide medical marijuana to other collective members. Transactions are typically conducted on a donation basis because the sale and distribution of marijuana is illegal in most states that permit medical marijuana. The industry also includes operators in Colorado and Washington, who grow medical and recreational marijuana on a for-profit basis.

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalization & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

More Colorado Press Releases

Neurosurgeon Scott Meyer, MD Saves NJ Resident from Possible Paralysis Due to Degenerative Disc Disease

Morristown, NJ (PRWEB) December 23, 2014

“You are at risk of becoming a quadriplegic.” Imagine hearing these words when your only symptoms prior to that day were not much more than a stiff neck? That’s exactly what happened to 32- year- old Joseph Chiarella of East Hanover, NJ. Mr. Chiarella started to feel neck discomfort back in early June, but he brushed it off, attributing it to sleeping or sitting in the wrong position. After all, he never had an injury or accident in his life. Over the course of a few months, his pain would increase and other symptoms began to arise, like numbness in hands, arms, fingers, and eventually into his chest and legs.

On Saturday October 18th, Chiarella woke up in such serious pain that it took him almost an hour to get out of bed. As the day progressed, so did his symptoms, which led to lack of control over his limbs. By the time he met Atlantic NeuroSurgical Specialists (ANS) spine surgeon Scott Meyer in the ER, he was terrified about his condition. After reviewing the patient’s MRI and performing a neurologic exam on him, Dr. Meyer knew time was of the essence. “Mr. Chiarella suffered from cervical disc herniations compressing his spinal cord and had rapidly progressing symptoms. He had already lost most of the function in his lower extremities. Without moving quickly and removing the discs that were applying pressure to the spinal cord, Mr. Chiarella ran the real risk of permanently losing movement and feeling in his limbs. Surgery could potentially restore the function he had lost that day and prevent him from not being able to walk or use his hands at all for the rest of his life. I operated as soon as possible performing an anterior cervical discectomy and fusion.”

How does a 32 –year- old suffer from degenerative disc disease? “While the disease itself is seen more commonly in older patients where symptoms may develop gradually, younger patients can acutely develop symptoms when a large disc herniates from the disc space,” says Dr. Meyer. “In Mr. Chiarella’s case, there was no specific traumatic event that led to this injury. He likely had moderate degenerative changes and more disc material herniated acutely, leading to rapid neurologic deterioration.”

Degenerative disc disease is a term used to describe the loss of fluid in your discs. Discs that were once soft and compressible break down, or degenerate. Tears in the disc’s outer layer allow the gel-filled material normally inside the discs to escape, causing the disc to bulge or leave the disc space entirely. In the cervical spine this can lead to spinal cord compression.

After spending a couple days in the hospital and a stay in Atlantic Rehab Institute for a week, Mr. Chiarella completed his physical and occupational therapy and was released to go home to his family, including his 3 -year-old daughter, Isabella Rose. He is able to walk on his own and use his hands.

“I want to thank Dr. Meyer,” says Mr. Chiarella. “I am so thankful for my health and he was instrumental in my diagnosis and treatment. I was faced with a lot in a short amount of time and Dr. Meyer really comforted me and walked me through every decision that had to be made. He made me feel at ease, was very explanatory, and I appreciated his knowledge and training in new techniques and technology that allowed me to go home to my little girl, Isabella Rose. She means the world to me.”

For more information about ANS and Dr. Meyer, visit http://www.ansdocs.com or call 973.285.7800

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