Loading...
Marijuana

$1.7 Billion Medical Marijuana Market to Rival Viagra Sales This Year, According to Report

Comments (0)

By

Thu, Mar 24, 2011 at 7:05 AM

click to enlarge Buddha is gold. - DEA
  • DEA
  • Buddha is gold.
Born in California in 1996, medical marijuana has grown from a baby bud to a full-blown industry flower that has blossomed across the nation.

Legal in 15 states, medical pot sales this year are projected to reach $1.7 billion, according to the self-proclaimed "first ever investor-grade analysis of the medical marijuana markets" released this week.

That number nears the $1.9 billion annual sales number for Viagra.

Not that the comparison is fair: Viagra gets you up. For many, marijuana is a pain killer and, arguably, a depressant.

Still, the report, The State of the Medical Marijuana Markets 2011, makes it sound like we're all in on the ground floor of a green rush. (Where do we sign up?).

click to enlarge MONEY DOES GROW ON TREES, APPARENTLY.
  • Money does grow on trees, apparently.

"We're witnessing the beginning of a legal business ecosystem forming around medical marijuana," the report's editor, Ted Rose, told reporters.

The survey and analysis by by See Change Strategy LLC states that the number of "markets" -- states where medical weed is sold -- will double in the next five years.

An increase in medical-legal states is projected. But demand for pot in states where weed is legit will also expand, according to See Change.

The report also says 24.8 million people are eligible to get doctor's recommendations and buy pot in medical marijuana states.

Rose, editor of the report, in a statement:

Medical marijuana markets are rapidly growing across the country and will reach $1.7 billion this year. We undertook this effort because we noticed a dearth of reliable market information about this politically charged business.

Smokin.'

Related Content

Now Trending

Los Angeles Concert Tickets

Slideshows

  • Here's What Happens When President Obama Comes to L.A.
    President Obama came to town again to rake in some funds and clog some traffic. The only view of his visit you probably saw were the brake lights of the car ahead of you in the traffic jam he caused, but here's what was really going on. All photos by Ted Soqui.
  • 21st Annual Classic Cars "Cruise Night" in Glendale
    On Saturday, spectators of all ages were out in multitudes on a beautiful summer night in Glendale to celebrate the 21st annual Cruise Night. Brand Boulevard, one of the main streets through downtown Glendale, was closed to traffic and lined with over 250 classic, pre-1979 cars. There was plenty of food to be had and many of the businesses on Brand stayed open late for the festivities The evening ended with fireworks and a 50th anniversary concert from The Kingsmen, who performed their ultimate party hit, "Louie, Louie." All photos by Jared Cowan.
  • The World Cup Celebrated And Mourned By Angelenos
    The World Cup has taken Los Angeles by storm. With viewings beginning at 9 a.m., soccer fans have congregated at some of the best bars in the city including The Village Idiot, Goal, The Parlour on Melrose, Big Wang's and more. Whether they're cheering for their native country, favorite players or mourning the USA's loss, Angelenos have paid close attention to the Cup, showing that soccer is becoming more than a fad. All photos by Daniel Kohn.