The growth of medical marijuana patients in Florida, still the country’s biggest medical-only market, is showing signs of slowing.
Recent data from the state Office of Medical Marijuana Use reveals a modest increase in the number of qualified patients year-over-year, but the pace of growth appears to have decelerated, according to New Cannabis Ventures.
However, both overall medical marijuana sales as well as the number of licensed dispensaries continues to grow.
In January, Florida reported 895,469 active MMJ patients with ID cards. By December, the number had risen to 930,643, reflecting an increase of 35,174 patients over 11 months.
This translates to an average monthly growth of about 3,200 patients.
While the growth is positive, it’s slower compared to earlier years with the MMJ program was expanding more rapidly.
Several factors may contribute to the trend.
First, the market may be approaching saturation, with a significant portion of eligible patients already enrolled.
Second, regulatory or logistical barriers, such as the application process or physician availability could be limiting new patient registrations.
The number of qualified physicians was 2,462 in January, and there is no indication of significant growth, which could constrain patient access.
Florida medical marijuana sales, dispensaries increase
The amount of medical marijuana sold also highlights trends in the MMJ market.
The total amount of MMJ dispensed in milligrams of THC increased from 358.3 million in early January to 437.4 million by December.
The number of dispensaries increased from 702 to 735 during the same period.
The data suggests that while patient growth is slowing, existing patients are using MMJ products more extensively, and the market infrastructure continues to expand.
Florida cannabis operators are hoping for adult-use legalization.
A proposed constitutional amendment that would legalize cannabis for adults 21 and over, supported by Tallahassee-based marijuana multistate operator Trulieve Cannabis, is collecting signatures despite obstacles from the state.
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