Impact on the Medical Marijuana Industry: Coronavirus Disease 2019 (COVID-19) Case Study

Impact on the Medical Marijuana Industry: Coronavirus Disease 2019 (COVID-19) Case Study



Summary



The ongoing COVID-19 crisis has wreaked havoc on the global economy and has had widespread effects on various industries, including the medical marijuana sector. With social distancing regulations being employed across the world, the unprecedented changes to the supply and delivery of medical marijuana is set to significantly alter the way in which people are able to access treatment. Furthermore, as of May 2020, at least six clinical trials involving medical marijuana products have been suspended as a direct result of the COVID-19 crisis. This will delay the launch of new therapies for affected indications. This case study assesses the impact of COVID-19 pandemic on the supply of medical marijuana in the UK and US, the impact of COVID-19 on medical marijuana clinical trials, and on job recruitment within the medical marijuana industry.



Supply chains remain stable but social distancing measures may start to impact the ability to purchase medical marijuana: In certain US states, dispensaries and pharmacies have been classified as “essential” and remain open. In the UK, many people have been able to stockpile or import their supply from the Netherlands instead of travelling there in person. However, social distancing measures are causing some issues with purchasing medical marijuana, such as waiting times at dispensaries in the US or the inability to fundraise to afford the product in the UK. If these lockdown measures continue, some may be forced to source their marijuana illegally.



Medical marijuana clinical studies have not been significantly impacted by COVID-19 to date: Six clinical trials of medical marijuana products in development have been impacted by COVID-19. The main reason for trial delays is suspension of enrollment because of social distancing and lockdown measures. Once lockdown measures start to ease, recruitment for these trials should be able to resume. If the measures do not change in the near future, companies should start to look at alternatives such as virtual or decentralized trials if regulations allow.



COVID-19 has not had a significant impact on job recruitment in the medical marijuana industry: It appears that COVID-19 has not had a major impact on recruitment within the medical marijuana space to date, with increases in new job posts seen for most companies analyzed. This situation could change depending on social distancing measures but also on the ramifications of the virus on the global economy and the financial stability of some of these companies.



Scope



This case study assesses –

– The impact of COVID-19 pandemic on the supply of medical marijuana in the UK and US. This includes information from primary research with patients as well as parents of children who take medical marijuana for conditions such as epilepsy.

– Impact of COVID-19 on medical marijuana clinical trials.

– Impact of COVID-19 on medical marijuana job recruitment.



Reasons to Buy



– Examine the impact of COVID-19 on the medical marijuana space and devise strategies to minimize the effects of the pandemic on businesses and patients alike.



Companies Mentioned:

GW Pharmaceuticals

Corbus Pharmaeuticals

Ritesh Tiwari is the Founder of Research By Markets. He has more than 7 years experience in the Market Research industry and a total experience spanning 18+ years. His core experience is in Sales and International Recruitments. Ritesh is a big foodie and a huge football fan, supporting Manchester United (EPL) and FC Barcelona (La Liga). He hardly misses watching any matches when these teams are playing. Get in touch with Ritesh via: enquiry@researchbymarkets.com *Industry Press Release is a part of Research By Markets.