Marijuana Business Factbook 2019

243 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. Financial & Operational Data: Retailers | Chapter 5 MJBIZDAILY.COM CHART 5.15: Sampling Of Sales & Patient Counts In New Medical Marijuana Markets The first year of medical marijuana sales in Maryland and Pennsylvania set records for the industry, with Maryland bringing in nearly $100 million and Pennsylvania reaching $132 million. Florida and Oklahoma, meanwhile, have experienced explosive growth in patient counts, far surpassing expectations. Florida’s patient count increased by more than 200,000 patients between October 2018 and October 2019 to grow past 375,000. Between the late August 2018 patient registry launch and October 2019, Oklahoma added more than 190,000 patients ― more than double the 80,000 patients regulators expected to join the registry during the first year. Maryland, Pennsylvania, Florida and Oklahoma share several factors that contribute to the rapid growth, including a liberal list of qualifying conditions and easy access to medical marijuana through a large number of dispensaries. Florida has more than 180 operating dispensaries statewide while Oklahoma has licensed nearly 1,700 dispensaries ― one per 2,085 patients in Florida and one dispensary license for every 115 patients in Oklahoma. Other new medical markets have not been as successful. Iowa, North Dakota and Ohio have been hamstrung by limited access to dispensaries and other factors. Iowa has five dispensaries, a limited list of qualifying conditions and strict limitations on the amount of THC allowed in MMJ products. Sales in Ohio have been stifled by high prices and only 42 dispensaries in operation out of the 56 that received provisional licenses. Sales in North Dakota began in March 2019 with just one dispensary and only 160 patients. As of October 2019, North Dakota had seven dispensaries in operation to serve 1,500 registered patients ― a number that will prove difficult for retailers to turn into profit.