Since the landmark decision by the parliament in 2016, there have been many discussions and debates, and actual conversation about all aspects of medical marijuanas in Australia. Financially speaking, this landmark decision has brought on a plethora of opportunity, and a fair share of stumbling around in a new territory – for businesses, cultivators, lawmakers, and patients.
It’s fair to say that medical marijuanas in Australia have been welcomed rather openly by the community. Sufferers who have attested to its efficacy were quite relieved to see the country catching up with the rest of the world, while the scientific community was ready and waiting to conduct further testing on its true potential.
Funding & Investments
Years ago, before the prospect of medical marijuanas in Australia, there wouldn’t have been many financial pundits who could have predicted the surge that legalisation has seemingly brought to the local market.
One such example of a bigwig entering the arena was Dr. Andrew Forrest, a billionaire investor who threw $5,000,000AUD into a Perth-based tech company developing medical marijuanas in Australia at the tail end of 2021. This is far from the only major investment play being made in the space either, Gina Rinehart also put a significant amount of money in overseas cannabis investments.
Crowdfunding has also seen some record-breaking numbers related to medical marijuanas in Australia – cannabis company Montu was involved with a crowdfunding campaign that raised $1,000,000AU in less than 15 minutes and $3,500,000AU in less than 2 days.
While the seeding money is always a sign of positive expansion in the years to come, there is still hesitancy in some stock market players. The industry of medical marijuanas in Australia is still a young and burgeoning one, volatility is to be expected for the newcomers on the market.
However, there are reports that there is room for exponential growth from such a state of being for the industry. Particularly as medical marijuanas in Australia gain further expansion and acceptance in the community.
A Steep Learning Curve
There are still some roadblocks in the future of medical marijuanas in Australia, especially on the side of the patients. With reports of the system being incredibly difficult to navigate and in danger of being too difficult for the average patient to receive or doctor to prescribe, there are still some steep learning curves to overcome.
With reports that some sufferers are having to resort to less than legal means to attain medical marijuanas in Australia is certainly not inspiring. One can only hope that as time passes and more studies are conducted into the potential benefits that reside in the industry that there will be more attention being paid to the system that is currently in place for patients to fairly access legitimate treatments.
Public Support Continues
The green revolution has continued onward with pride, with the recreational supporters of the industry rolling out in droves to speak out in the hopes of getting the legalisation across more than just medicinally.
In the last 6 years alone, the public support for recreational legislation has almost doubled in the general population. While there’s still a long way to go, the legalisation and mass acceptance of medical marijuanas in Australia is a beneficial sign of things to come.
Where We Are
The industry itself is still growing into itself, but rest assured if the success continues, and the public perception continues to grow with medical marijuanas in Australia – we could be on the way to investing a little bit ourselves. For now, it is simply a matter of keeping a keen eye on the industry.
