According to a research published by Hexa Research, the U.S. medical cannabis market size was valued at USD 5.44 billion in 2016, and is expected to be valued $19.48 billion by 2024.
The medical cannabis market is still in stage of development and is expected to grow significantly during the forecast period owing to rising consumer demand. Consumer attitude towards the herb is continuing to shift in a positive direction in part thanks to its medical benefits for Arthritis, Migraine, Cancer and more. In the U.S it’s estimated that more than 50 million adults and 3 million children have arthritis. The demand for medical cannabis for arthritis alone is expected to grow at a CAGR of 17.8% over the projected period.