Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 56 © 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. MARKET OVERVIEW Number of registered patients 38,629 (up from 33,794 in early 2019) Estimated 2019 MMJ sales via dispensaries $100 million-$120 million (up from $75 million-$90 million in 2018) SUMMARY What to watch in 2020 Connecticut’s medical marijuana industry continues to expand. Patient counts jumped 25% in 2019 and are now approaching 39,000. In 2019, regulators doubled the number of dispensary licenses from nine to 18. Officials might issue more cultivation licenses as well, as many dispensaries have argued that the four licensed growers won’t be able to meet demand. Regulators expanded the list of qualifying conditions to a total of 36 conditions for adults. Additional medical conditions are still moving through the state’s approval process, including chronic pain―which could provide a significant boost to MMJ sales if approved. Gov. Ned Lamont was part of a cannabis summit of Northeast governors to coordinate recreational marijuana legalization efforts, though no concrete measures have yet been taken to legalize adult-use cannabis in the state. Marijuana Business Opportunity Rank for 2020 B Connecticut’s patient base continues to grow, benefitting existing businesses and providing opportunities for expansion among the state’s few producers, as well as new or existing ancillary businesses. However, there are no licenses currently available to entrepreneurs interested in entering the plant-touching side of the state’s MMJ market, leaving acquisition as the only means to enter into production at present. Given the state’s small size, tight caps on licenses, extremely high licensing fees (for producers) and heavy regulations, investment and growth opportunities are limited. CONNECTICUT Medical continued