Medical Cannabis Market Anticipated to Reach $33.2 Billion By 2027

PALM BEACH, Fla., Nov. 2, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - While cannabis has a long history of medical use as an analgesic (pain reliever) and antispasmodic agent, for much of the modern era there existed a general lack of awareness among scientists and physicians of its medical benefits. The discovery of the potential of the active ingredient, THC, in the 1960s, in the late 1980s and early 1990s, promoted inquiry into the therapeutic potential of cannabis and its extracts and derivatives. This work revealed that cannabis can provide relief from certain types of conditions, such as severe chronic pain, and led to the development of various herbal medical cannabis products. Today, it is being used/researched for Cancer, chronic pain, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, multiple sclerosis, AIDS, PTSD, amyotrophic lateral sclerosis (ALS), Alzheimer's, and Tourette's are some of the diseases and symptoms for which cannabis is used. Cannabis has been legalized for medical usage in a large number of nations, due to its therapeutic effects.  According to a report from Market Research Future, the Medical Cannabis Market is anticipated to register a CAGR of 18.4% crossing the value of USD 33,210 Million by 2027.   The report said that: "In comparison to other therapy choices, cannabis is safer and has less severe negative effects. It's also used in conjunction with other medicines, either to improve their efficacy or to mitigate negative side effects. Apart from business leaders, many corporate and government institutions are funding the research and development of cannabinoids for medical applications. Clinical studies, research and development (R&D) operations, and the commercialization of cannabis-based indications are also likely to fuel the medical cannabis market's advancement.    Active companies in the Cannabis market this week include Mountain Valley MD Holdings Inc. (OTCQX: MVMDF) (CSE: MVMD), Sundial Growers Inc. (NASDAQ: SNDL), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY).

Market Research Future continued: "By product type, the Cannabidiol oil segment is likely to dominate the market due to its stress-relieving applications. It can also be used to treat other neurodegenerative disorders like Alzheimer's and PTSD. By derivatives, CBD dominates the market, since it is mostly used for medical purposes due to its non-psychoactive properties and low toxicity, whereas THC is used to alleviate the adverse effects of AIDS and cancer treatment. By application, cancer is the most popular category which fuels the market. By route of administration, oral solutions & capsules are the most popular, making up a majority of the revenue. By distributive channel, the retail pharmacy has been gaining the most traction due to 24/7 availability and extended care services.  In 2020, North America dominated the global medical cannabis market, with the biggest share. This enormous market share is attributed to the legalization of medical cannabis in 37 US states, as well as the widespread acceptance of products. The market in this region is growing due to the inclusion of significant manufacturers, expanding use of medicinal cannabis products, and an increasing number of enterprises engaged in R&D activities."

Mountain Valley MD Holdings Inc. (OTCQX: MVMDF) (CSE: MVMD) - BREAKING NEWS:  MOUNTAIN VALLEY MD HOLDINGS COMPLETES LICENSING AGREEMENT WITH RED WHITE AND BLOOM BRANDS INC. - Mountain Valley MD Holdings Inc. (the "Company" or "MVMD") is pleased to announce, further to its news release dated September 29, 2021, that Mountain Valley MD Inc. ("Mountain Valley") has entered into a Product Development and Commercial Licensing Agreement (the "Agreement") with Red White & Bloom Brands Inc. ("RWB"), a publicly traded multi-state cannabis operator and house of premium brands that are available across the cannabis market in the United States.

The Agreement establishes the terms upon which Mountain Valley will develop and license formulas using MVMD's Quicksome™ technology and novel cannabinoid solubilization techniques to be applied by RWB to various cannabis product applications.  The Agreement grants RWB an exclusive 5-year license in Florida, Michigan and California to manufacture and distribute its cannabis products in exchange for the payment of product fees and ongoing sales royalties.

"Our partnership with Red White & Bloom illustrates how MVMD's technology can support product innovation objectives for our key partners across a variety of market verticals," stated Dennis Hancock, President and CEO of Mountain Valley MD.  "Providing our global partners with product efficacy advantages through our technology licensing strategy is core to business scale objectives."

The MVMD team have been working closely with RWB to apply proprietary formulations across a number of branded Medical and Rec product lines. The MVMD Quicksome™ sublingual applications, include a proprietary THC-based sleep formulation created for RWB, which is planned to be the initial product that RWB will introduce in the medical sleep market in the United States.

"Leveraging this innovative technology to provide unique cannabinoid product formulations is part of Red White & Bloom's strategy to bring premium, leading, and disruptive cannabis products to the marketplace," stated Brad Rogers, Chairman and CEO of Red White & Bloom Inc.  "We believe this novel sublingual delivery technology when compared to numerous orally consumed products in the cannabis space, enables us to pursue market applications where the precision of cannabinoid delivery is preferred."  CONTINUED…  To read this full release and more for Mountain Valley MD, please visit https://www.financialnewsmedia.com/news-mvmd/

Other recent developments and major influences in the cannabis industry include:

Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED) and Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, "Wana" and each, a "Wana Entity") recently announced that they have entered into definitive agreements (the "Agreements") providing Canopy Growth with the right, upon federal permissibility of THC in the U.S., to acquire 100% of the outstanding membership interests of Wana, the #1 cannabis edibles brand in North America by market share.

Wana manufactures and sells gummies in the U.S. state of Colorado and licenses its intellectual property to partners, who manufacture, distribute, and sell Wana-branded gummies across the U.S., including California, Arizona, Illinois, Michigan, and Florida giving Wana a total footprint of 12 U.S. states currently, and across Canada. Wana expects to have license agreements in place in more than 20 U.S. states, including in future adult-use markets in New York and New Jersey, prior to the end of calendar 2022.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced a manufacturing agreement with The Valens Company Inc. ("The Valens Company" or "Valens") a leading manufacturer of cannabis products, to manufacture a new seasonal offering in the mint category.

Launching under Drift Turbo, the Company's mainstream adult-use recreational brand, the new Canna Cane Mints are a two-piece hard peppermint candy containing 10mg THC (5mg THC per piece). This is the first product offering under the manufacturing arrangement, which is expected to expand in the coming months.

Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), a global pioneer in medical cannabis research, cultivation, production, and distribution, recently announced it has been selected by the Luxembourg Ministry of Health as a supplier of Good Manufacturing Practice (GMP) certified medical cannabis products for the country's medical cannabis program.

Following this selection, Tilray will supply a variety of its pharmaceutical-grade medical cannabis products, including extracts and dried flower with different degrees of THC and CBD for patients with varying medical conditions. These prescription-based medical cannabis products will be administered to qualifying patients in Luxembourg under the supervision of physicians.

Sundial Growers Inc. (NASDAQ: SNDL) recently announced that it has entered into an arrangement agreement (the "Agreement") with Alcanna Inc. (CLIQ) ("Alcanna") pursuant to which Sundial will acquire all of the issued and outstanding common shares of Alcanna ("Alcanna Shares") by way of a statutory plan of arrangement for total consideration of approximately $346 million (the "Transaction").

With over 25 years of experience in retailing regulated products, Alcanna is Canada's largest private liquor retailer, operating 171 locations predominantly in Alberta under its three retail brands "Wine and Beyond", "Liquor Depot" and "Ace Liquor". Alcanna's strategic partner, in which it holds an approximately 63% equity interest, Nova Cannabis Inc. (NOVC) ("Nova"), is one of Canada's largest cannabis retailers offering a wide range of high-quality cannabis products at value prices. Nova currently operates 62 stores across Alberta, Saskatchewan and Ontario primarily under the "Value Buds" and "Nova Cannabis" banners.

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