Thanks to legal recreational use of marijuana about to launch in California and nationwide up in Canada, sometimes it's easy to forget where we got started here.
Legal marijuana first came to my attention because of the "War on Pain."
Let me explain…
In a study a year or so ago, the National Institutes of Health (NIH) found that about 11% of Americans suffered from debilitating pain. Other sources say the number of this country's pain sufferers may run as high as 50 million.
But I don't need statistics to know that millions of Americans suffer from serious pain problems.
I do so myself – and so do many of my friends and family members.
And that has turned the market for pain medication into a huge business. According to market researcher VisionGain, the worldwide business for pain drugs is worth about $68 billion right now.
Other studies say it's even bigger.
Equally huge is the nation's opioid crisis.
President Donald Trump has declared the opioid crisis a "public health emergency," and a White House commission has released its final report on the epidemic, calling for more drug courts, greater training for doctors, and penalties for insurers who do not cover addiction treatment.
The number of opioid-related deaths rose 75%, from roughly 20,000 in 2010 to 35,000 in 2015. In other words, opioid-based drugs kill more than 100 Americans every day.
This surge in the number of pain sufferers – coupled with the snapback against the prescription of opioid drugs – has opened the door to a wholly new approach to pain treatment.
I'm talking about medical marijuana and all its derivatives.
And there's one company, in particular, that you should be watching…
Why We Believe in Medical Marijuana
In fact, marijuana's medicinal potential could be worth billions more than the recreational market.
Study after study has shown that up to two dozen medical conditions could be treated with marijuana.
Two of its more intriguing components, non-psychoactive cannabidiol (CBD) and psychoactive tetrahydrocannabinol (THC), have a clear impact on brain function and pain management.
Glaucoma sufferers, for example, have long known that pot can reduce ocular swelling. Many people swear by pot's ability to improve lung function, counterintuitive as that may seem. And people suffering from conditions such as multiple sclerosis will tell you that this drug can greatly ease the daily pain they must live with.
In fact, some of my friends can tell you that.
Results like those are part of the reason medical marijuana has been approved in 29 states (and Washington, D.C.) and in many countries around the world. And it's the reason why the global medical marijuana market topped $11 billion in 2016 – and could reach $55.8 billion by 2025.
And it's what brought medical marijuana – and all the biotechnology behind it – to my attention.
Just one company – a biotech that first hit my radar in 2014 and has delivered peak gains of more than 65% to folks who got in early with my Roadmap to Marijuana Millions – is favorably positioned to make a classic "corner-the-market" move on this incredibly lucrative segment.
I'm recommending it once more today, because I think there's every reason for it to keep on delivering…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.