Medical Cannabis Gaining Momentum in Asia

Asia relaxes stance on weed…maybe.

Countries in Asia are taking a new stand and relaxing their points of view on the concept of cannabis even though it is still illegal in most of the nations. It is estimated that by 2024 the Asian market for medical usage of cannabis could be valued higher than $5.8 billion. This leads to many investment opportunities but a large portion of the population is still hesitant to invest in it because it is socially stigmatized.

In February 2019, Thailand legalized medical marijuana which leads many experts to believe the plant may be decriminalized through other Asian countries soon. With changes in the way it is viewed, it is probable that investors will become less hesitant in developing a better potential market for medical cannabis.

Current Punishments for Possession
Most Asian countries have extremely strict punishments for contact with cannabis. Possessing, consuming, or trafficking carry extremely strict punishments. The most notable issues being the current war occurring in the Philippines which has been noted as extremely bloody.

Even though the drug is considered taboo in many places, some nations are beginning to soften their view on cannabis and some hospitals are bringing a positive outlook to patients who could benefit from its use.

Currently, the global recreational marijuana market is estimated to be worth $13.8 billion in 2018 alone. It is projected that the global market worth will reach $66.3 billion by 2025.

As more and more countries have begun accepting the medical benefits of medical marijuana, more research is going into the benefits of medical marijuana and the various tinctures that can be made from them.

Source: CNBC

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