Medical cannabis is becoming a profitable business, but patients still struggle
Medical cannabis in Canada is becoming one of the fastest growing sectors of the economy and is contributing to the health of Canadians, a new report from the federal government says.
The report, released Wednesday, said the sector is generating about $6 billion in annual revenue for the Canadian economy, with the government predicting the sector will grow at double digits by 2020.
“Medical cannabis is now the fastest-growing sector of the Canadian economic activity,” said Liberal MP Catherine McKenna.
“We’re seeing tremendous growth in the market.”
The report said the total number of licensed producers in Canada has tripled since 2012, from 1,100 to 2,800.
It said the industry is now worth more than $1.7 billion.
The federal government has long touted its role in the burgeoning industry.
The Liberals have committed to bringing the country’s recreational cannabis market online by 2019, with commercial sales expected in 2020.
Health Canada says more than a million Canadians have used medical cannabis in the last five years.
The Liberals have promised to legalize recreational cannabis sales and to make marijuana available over the counter in Canada.
The issue of access to cannabis in general has been a contentious issue in Canada, with some provinces having limited access to the drug.