(This story is part of the cover package for the May-June issue of Marijuana Business Magazine.)
Recreational marijuana makes the most headlines, but a large number of cannabis consumers buy and use the plant for medical and wellness reasons.
These include acute medical conditions such as cancer, chronic pain and epilepsy, as well as wellness reasons including anxiety, muscle strains and sleep problems.
To understand their consumers’ needs, marijuana product manufacturers and retailers must know which cannabis products can help and how to make them in a way that wins consumer confidence.
There’s a lot to consider:
- Federal legalization could usher in new regulations and standards governing how cannabis facilities operate.
- Researchers are learning about minor cannabinoids, which could play a role in future cannabis-based product development.
- Scientists brought over from the pharmaceutical industry are helping revolutionize cannabis products in a way that will make them more palatable—literally and figuratively.
“It’s important to understand where this industry is going to go long term,” said Albert Gutierrez, CEO of MedPharm Holdings, a Denver company that cultivates and manufactures cannabis products at a Good Manufacturing Practice-certified facility.
“We want to make sure we’re following standards that will meet federal guidelines to serve customers or even serve researchers.”
While state-of-the-art facilities and science will play a large role in shaping the industry, so will established tactics such as building patient relationships and keeping records about the effects cannabis products are having.
In the following stories, readers will get firsthand insights from executives who are paving the way for marijuana’s future: