Medical Cannabis Could Take a Big Bite Out of Pharmaceutical Sales • Medical Cannabis can be an effective treatment for conditions including: chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, epilepsy, nerve pain, chemotherapy-induced nausea and vomiting, Tourette’s Syndrome, glaucoma.
• Americans spent an estimated $40.1 Billion on Rx in 2016 to treat these conditions. Expenditures are forecast to grow to more than $44.1 Billion by 2019.
• Three conditions which drove the highest Rx expenditures in 2016 were chronic pain ($14.3 Billion), PTSD ($10.6 Billion) and sleep disorders ($6.13 Billion).
• Prescription drug use, most commonly associated with medical cannabis, falls an average of 11% in states with legalized medical cannabis.
• If medical cannabis use were legalized nationally in 2016, an 11% decline in Rx use would have equated to an estimated $4.4 Billion in reduced Rx spending, and an estimated $4.9 Billion in 2019.
• Between 2016 - 2020, the 11% reduction in Rx spending would be a combined $18.5 Billion.
** SOURCE: National Academies of Science