Illinois’ healthcare marijuana system is experiencing its most important and sustained period of development but, almost 3 years following sales started in the state.
From August 2018 to August 2019, patient counts in the state almost doubled, from roughly 44,000 to far more than 83,000.
Via the initially eight months of 2019, sales of MMJ in the state totaled almost $150 million – currently topping sales recorded for the entirety of 2018 – and are on pace to break $240 million by the finish of the year.
Some market professionals anticipated to see patient counts surge following the launch of Illinois’ pilot opioid-option system in February, but so far that hasn’t materialized.
As of August, the quantity of individuals enrolled in that system stands at just more than two,200, or two.five% of the total quantity of healthcare cannabis individuals in the state.
Current adjustments that may well have supplied a enhance, nevertheless, consist of:
- In October 2018, background checks and fingerprint specifications had been eliminated for MMJ patient applications.
- In August, Governor J.B. Pritzker signed legislation to make the state’s healthcare marijuana system permanent, add new qualifying circumstances such as chronic discomfort and migraines, and permit nurse practitioners and physician’s assistants to certify individuals.
With recreational sales set to kick off subsequent year, slower patient and sales development – or even declines – could be on the horizon, as MMJ applications normally endure following the launch of adult-use markets.
On the other hand, taxes on recreational cannabis in Illinois will be higher relative to other adult-use markets. Prospects can count on to spend in between 20%-35%, based on the merchandise they obtain.
MMJ individuals in the state spend just a 1% sales tax.
Additionally, provide crunches are anticipated when Illinois’ rec market place gets off the ground.
Dispensaries that serve each markets are expected to prioritize MMJ individuals, which may well delay the decline for Illinois’ MMJ system.
Eli McVey can be reached at [email protected]