Ohio Medical Marijuana Market
The Canna Advisors team has been active in Ohio since legislation was passed in 2016
Gov. John Kasich signed a bill into law in June 2016 that allows medical marijuana use in the form of edibles, oils, patches and vaporizing by patients with 21 specified medical conditions. Patients and their caregivers are allowed possession of up to a 90-day supply of medicinal marijuana. Smoking and growing medical marijuana for personal use at home is not allowed.
Ohio medical cannabis license applications began being accepted in June 2017, with sales projected to start in September of 2018. That timeline won’t be met by the state, and the earliest estimate for the program to be up and running is now December 2018 or January 2019. Only four out of 25 cultivators have been approved to begin operations, and the Board of Commerce recently cleared 10 processors.
Now is the time for entrepreneurs and business owners to begin laying the groundwork to be successful in Ohio. Canna Advisors has assisted clients in 28 states. Those that put in the most preparation submit the best applications. Contact us today to discuss how we can assist with your medical marijuana business in Ohio.
The Opportunity in Ohio
Ohio could eventually become one of the largest medical cannabis markets in the U.S., once it matures.
While there are many opportunities to win licenses, the licensing fees are steep and entrepreneurs need to be well-capitalized.
Early, thorough, and experienced planning is required for success in this market that is expected to be extremely robust and competitive.
The Conditions in Ohio
The Ohio market is shaped by a dense population and an increasing percentage of residents consuming cannabis. The list of qualifying medical conditions is liberal, yet the conservative state medical board is not promoting the program to the state’s physician base, and zoning restrictions are tight. These potential bottlenecks are offset by a state legislative focus on developing a comprehensive and efficient program.
Canna Advisors’ early work in the state positions the team well to navigate the developing market and advocate for favorable industry conditions.
The Projections For Ohio
Number of registered patients (2019)
Compounded annual growth rate
$21 million projected for first year, even though partial year
Source: "The State of Legal Marijuana Markets" by Arcview Market Research/BDS Analytics, 6th Edition.
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