Analysts’ Thoughts on the Medical Marijuana Sector
Martin Landry, Managing Director at GMP Securities L.P. shares his thoughts on the growing medical marijuana industry.
“The trend that is catching our attention in medical marijuana is the growth in volume and patients. Health Canada publishes market data on a quarterly basis. And if you look at the last published numbers in December you’re going to see that the volumes of cannabis sold has gone up by 70 percent on a year over year basis, it’s a phenomenal growth. It shows that there is a demand for that product and we’re also seeing that the number of patients have reached 270,000 so, it’s a pretty big amount. We’re also seeing that there are more and more doctors that are prescribing. It used to be a limited amount and I think that’s widening. It’s a very good sign.
Another trend that is catching our attention is the mode of consumption. We’re seeing a shift into all extracts because this is an easier product for patients to in take. They don’t have to smoke it and it’s an easier discussion for a physician with their patient. We’re also seeing now, gel caps appear in the market again. I think all of that will make physicians much more comfortable prescribing medical marijuana than they used to.” – Martin Landry, Managing Director at GMP Securities L.P.