Israel’s Plan to Generate $50 Billion Medical Marijuana, Market
Israel is one of the states that contributed a lot to the marijuana research and its medical benefits for the improvement of the medical technology. As of now, it is one of the international investments and attraction as the medical-grade cannabis continues to grow and expand.
The estimated revenue of the medical marijuana could reach up to $50 billion by the time it reaches up to 2025. The government of Israel allowed the local industry to the exportation and plan various projects in order to generate the estimated revenue of medical cannabis.
While it cannot be denied that medical cannabis had been introduced a little too late but it does not have any universal medical standard. They are now planning to improve their expertise in agriculture, producing medicines based in cannabis, and technology in order to improve their medical cannabis industry.
For instance, in the United States, they tend to use marijuana plant for both recreational activities and medical purposes. They tend to utilize marijuana plant for serious illness and diseases. They tend to produce their own antibiotics that are all marijuana-based, according to Landschaft.
Their main strategy is to create a high quality medical-grade cannabis and ensure that their supply will last from cultivation, harvesting, production, and responsible distribution of the drug.
What could be the biggest legal market for marijuana nowadays is the United States, officers, and officials in Israel are supporting the government for the research and development of marijuana-based medicines.
There would be workers who are qualified and licensed to grow marijuana plants that are following the scientific institutions in various clinical trials in order to further develop the studies of the medical cannabis and hopefully, discover more about the illnesses and diseases that it can heal.
As of now, there are about 120 researches and studies that are still on-going in Israel in order to observe other side effects of the medical marijuana, especially in psoriasis, epilepsy, and autism.
For the results of their discoveries, they are planning to share and discuss it with various doctors from across the countries including the Germany, Australia, Brazil, and others.
Over 500 companies in Israel are now applying for the license in order to grow, cultivate, and produce marijuana-based medicines for export. Some growers are already capitalizing in the US market.
One of the largest growers of the marijuana plant is Tikun Olam. He had already invested and one of the partners in US companies in cultivating marijuana in four states. As of now, it is waiting for the approval of the government to export to Europe and South America.
Even though the biggest marijuana market is in the United States with the estimates of over $20 billion as of 2020, it is still considered illegal with regards to the federal law. In order to export and import marijuana, growers and manufacturers are required to request for approval from the US Food and Drug Administration in order to legalize the process of marijuana-based medicines.