Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 36 © 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. SUMMARY What to watch in 2020 Cannabis sales and patient counts have continued to grow in Arizona’s booming medical marijuana market, leading new investors and multistate operators into the state’s rapidly growing industry―despite hurdles such as nontransferable licenses and the not-for-profit requirement for licensees. A new bill that went into effect at the end of August extended the life of MMJ patient cards from one year to two but eliminated the ability for naturopaths to recommend medical marijuana. Naturopaths are the most common kind of physician recommending MMJ in the state. That could create some short-term hiccups as patients figure out how best to renew their MMJ cards. The bill also implements mandatory laboratory testing, bringing Arizona’s MMJ program in line with other programs throughout the country. Mandatory lab testing is set to begin in late 2020. After a narrow defeat in 2016 to place recreational marijuana on the ballot in Arizona, another advocacy group is gathering signatures to put adult use before the state’s voters in 2020. Marijuana Business Opportunity Rank for 2020 B With a patient count of more than 220,000, Arizona is one of the largest MMJ markets in the nation and continues to experience strong growth several years in. Patient counts were up 20% between 2017 and 2018 while sales grew 41%. Out-of-state infused product manufacturers are entering the market via licensing agreements, with mixed success. The last legislative session yielded new rules, including testing requirements and clarity on the legality of concentrates―both of which could open the door to several new investment opportunities, particularly with the influx of out-of-state interest. However, no new MMJ business licenses are being granted, so major opportunities to enter Arizona’s market might not be available unless voters approve a recreational marijuana ballot initiative in 2020. ARIZONA Medical continued