The medical cannabis market is booming, and Veriheal is at its forefront. Veriheal is a healthcare technology company that supports medical patients by simplifying the process of getting a medical cannabis card and providing personalized cannabis education. Since its founding in 2017, the company has helped hundreds of thousands of patients gain access to medical cannabis.
Rather than operating as a medical clinic, Veriheal provides proprietary digital tools to a rapidly growing network of state-licensed medical cannabis doctors around the U.S. By using Veriheal’s online telehealth platform, patients and doctors alike can avoid much of the red tape that stands in the way of life-changing alternative treatment.
The Current State of the Medical Cannabis Market
In 2021, the global medical cannabis market was valued at $11 billion. According to a report from Grand View Research, this market was expected to grow at a compound annual growth rate (CAGR) of 21.6%. Several factors drove this growth, including:
- The changing public perception of cannabis
- The increasing legalization of medical cannabis
- The growing body of scientific evidence supporting the medical benefits of cannabis
In the U.S., there are now 37 states with legal medical cannabis programs and 19 states with recreational programs. This growing acceptance of cannabis is translating into increased demand, and more and more Americans are demonstrating an interest in using cannabis for medicinal purposes.
However, the federally illegal status of cannabis continues to be a barrier for patients who wish to access it. As a Schedule I drug under the Controlled Substances Act, cannabis is still viewed by the federal government as highly addictive with no medical value. As a result, medical cannabis patients still face many obstacles, including that insurance companies don’t cover its cost like they do other medications.
The Potential of the Medical Cannabis Market
Despite the remaining barriers in the medical cannabis industry, this young sector continues to show enormous promise. The backbone of its growth is research supporting cannabis’ therapeutic potential. Cannabis has proved to be beneficial for various conditions, including:
- Chronic pain
- Sleep disorders
- Skin conditions
- Multiple sclerosis
One of the most promising research areas is its potential to treat chronic pain, which affects an estimated 20% of American adults. A recent study found that medical cannabis enrollment is at an all-time high. And interestingly, chronic pain is the most common reason for patients to seek this treatment option.
In addition, another study found that medical cannabis can significantly reduce pain levels. This is likely due to its anti-inflammatory properties and ability to block pain signals. It also improved the quality of life for people with chronic pain.
The evidence supporting cannabis’ efficacy in treating medical conditions is likely to grow as researchers undertake more and more studies. And as patients are presented with more knowledge on the plant, the demand for this treatment option is likely to skyrocket.
Veriheal’s Impact on the Medical Cannabis Market
The medical cannabis industry has come a long way, but there is still much progress to be made. To get the healthcare they deserve, patients need dedicated, innovative companies and organizations to fill the gaps in this heavily regulated market. That’s where Veriheal comes in.
Veriheal’s mission is to make medical cannabis accessible to everyone who can benefit from it. To do this, Veriheal has developed a technology platform that helps doctors provide medical cannabis consultations. The company also provides the necessary tools and education that patients need to get approved to use cannabis medically.
Additionally, Veriheal has a growing network of medical cannabis dispensaries across the country. This makes it easy for patients to locate and obtain their plant medicine.
Veriheal’s platform streamlines doctors’ and patients’ medical cannabis recommendation processes. For doctors, Veriheal provides a simple online form that recommends patients for medical cannabis. The form complies with each state’s medical cannabis laws and only takes a few minutes to complete.
For patients, Veriheal provides a state-compliant online portal where they can:
- Manage their medical cannabis recommendations
- Track their progress
- Find dispensaries near them
- Gain access to hundreds of educational resources
Whereas patients before had to navigate a mess of rules, regulations, and in-person appointments to secure a medical cannabis card, they can now do so via a simple telehealth visit.
A Changing Medical Cannabis Landscape
The future of medical cannabis is looking bright, and Veriheal is leading the charge. By streamlining the normally chaotic process of qualifying for medical cannabis, Veriheal has significantly impacted the landscape of medical cannabis in the U.S. The company helps patients every day with its effective technology solutions and destigmatizing educational resources.
As the medical cannabis market continues to grow, visionary companies like Veriheal will continue to play a big role in advocating for cannabis and the millions of patients it can help. For this rising industry, the sky is the limit.