The Utah medical cannabis industry is doing very well.
According to MJBizDaily:
Medical cannabis sales in Utah increased by 59% between 2021 and 2022, according to data published by the Utah Department of Health & Human Services’ Center for Medical Cannabis.
Net medical cannabis sales for 2022 totaled $118.7 million, compared to $74.8 million in 2021, according to data published by the center.
January 2023 net sales were worth $10.9 million, with the Center for Medical Cannabis reporting 63,622 registered patients that month.
Persistent pain was the most common qualifying medical condition, followed by post-traumatic stress disorder.
The number of active registered patients in Utah grew by 51% between Oct. 1, 2021, and Sept. 30, 2022, according to the Center for Medical Cannabis’ 2022 annual report, which was issued in November.
Utah’s 2022 net sales total is in line with projections from the 2022 MJBiz Factbook, which forecast 2022 sales of between $105 million and $130 million.
The 2022 MJBiz Factbook projects Utah MMJ sales in 2023 will be worth $135 million-$165 million.
Utah’s medical marijuana legalization bill was signed into law in late 2018, and sales launched in March 2020.
New rules for Utah MMJ businesses took effect this year.
Original Source – https://mjbizdaily.com/utah-medical-marijuana-sales-up-nearly-60-percent-in-2022/