An industry standard and conservative predictive analytic measure for a medical cannabis patient population in the respective market is 1% of the market’s population. Maryland’s population is six mil. Maryland’s medial cannabis market went live December 2017 (the law was approved in the 2013 Maryland Legislative Session). Per a report Maryland’s Maryland Medical Commission Executive Director Joy Strand gave to the Commission yesterday, Maryland’s current medical cannabis patient population is 40,500+. That’s in six months.
Joy also provided data which included there are 11,123 pending patient applications with a 10 business day turnaround. There are 833 licensed registered providers (physicians; nurse practitioners; dentists; midwives and podiatrists. Side note: Commission’s Policy Committee is changing the words “certifying physician” as it now stands in COMAR to “certifying provider”.)
December 2017 through April 2018 there was $26,300,000 revenue in the sale of cannabis flower and infused product (edibles are not legislated in Maryland).
Four new dispensaries were approved by the Commission yesterday and per Joy, at least two more will be coming online in June. 102 dispensaries were legislated.
There is plenty of data to drill down with economic analysis but here’s one simple outcome: Maryland’s medical cannabis patient registration will most likely be well ahead of the 1% model.
Today, I’m meeting with a medical cannabis patient. I first came to hear her story from her mother. Kaitlyn was in a horrific auto accident in which her fiance was killed and her baby girl buckled up in the back seat was virtually unharmed. Kaitlyn suffered a TBI and today manages PTSD and chronic pain with medical cannabis. Via our emails and text messages, she comes across as completely coherent and delightful. Her patient story is the true measure of success for Maryland’s medical cannabis industry.