Annual General Meeting
6
CONSIDERABLE MARKET GROWTH
$12.8B
in 2019
33
STATES
3M+
PATIENTS
GROWTH
DRIVERS
• While the U.S. legal cannabis industry is projected to total $12.8B(¹) in
2019, total cannabis demand in the U.S. is estimated to total $75B-
$100B(2), including markets serviced by the illicit market
• Today, 33 states, as well as the District of Columbia, Guam and
Puerto Rico, have legalized medical cannabis
• 11 of the 33 states and the District of Columbia have legalized
cannabis for adult-use
●
Nationally, more than 3 million patients have registered with
state medical cannabis programs
Over 220 million Americans live in states that permit the use
of medical cannabis(3)
●
• Expansion of regulated markets and conversion of illicit markets
• Growth of consumption per capita as new product forms such as
edibles and vapes lead to proliferation of use
(1) Source: Arcview Market Research, State of Legal Cannabis Markets 7th Edition.
(2) Source: Canaccord's September 2019 U.S. Cannabis and Multi-State Operators report.
Source: Marijuana Policy Project; MPP.org as of September 2019.
(3)
(4) Source: IQVIA Institute for Human Data Science, Global Use of Medicines, January 2019.
$ IN BILLIONS
$35.0
$30.0
$25.0
$20.0
$15.0
$10.0
$5.0
$0.0
$9.9
LEGAL U.S. CANNABIS MARKET (¹)
2018
$12.8
2019
$16.0
2020
$19.2
2021
$23.1
2022
$26.8
2023
ADDRESSABLE MARKET, U.S.
Prescription Drugs, 2018
$485B(4)
$30.1
2024
Total U.S. Cannabis Market (legal+ illicit)
$75B-$100B(2)
Legal U.S. Cannabis Market, 2018
$10B(1)
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