Medical Marijuana Market Surges Toward $130B+ as Global Demand Accelerates

Market News Updates News Commentary 

Rapid legalization, rising clinical adoption, and institutional capital are driving a new era of explosive growth in cannabis-based healthcare

NEW YORK, May 7, 2026 /CNW/ -- The medical marijuana sector is gaining real momentum, driven by a mix of expanding legalization, deeper clinical research, and a noticeable shift in how both patients and doctors view cannabis-based treatments. Across North America, Europe, and parts of Asia, governments are steadily widening access, while regulatory changes--especially in the U.S.--are beginning to open the door to more investment, better research, and increased institutional involvement. At the same time, demand is rising for alternatives to traditional pain management, particularly non-opioid options, as well as treatments tied to neurological conditions and cancer care. All of this is helping medical cannabis move out of the margins and into the healthcare mainstream. Companies gaining serious traction across the medical marijuana, cannabis, and edibles markets include:  Herbal Dispatch Inc. (CSE: HERB) (OTCQB: LUFFF), High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), Glass House Brands Inc. (OTCQX: GLASF), Curaleaf Holdings, Inc. (OTCQX: CURLF) (TSX: CURA).

When you look at the numbers, the growth story is hard to ignore. The global medical marijuana market is expected to land around $26–27 billion in 2026, with projections climbing past $130 billion by the early to mid-2030s--an annual growth rate north of 20%. Even the more conservative forecasts still show strong upside, with estimates reaching about $65.9 billion by 2030, up from $13.8 billion in 2022. Some longer-range outlooks go even further, suggesting the market could top $190 billion by 2034 as pharmaceutical-grade cannabinoid therapies continue to gain traction and legitimacy.

Looking ahead, three forces are shaping the long-term opportunity: broader legalization worldwide, ongoing pharmaceutical innovation, and a steady expansion of product formats. New developments in cannabinoid-based medicines, more precise dosing methods, and user-friendly delivery options like oils, capsules, and edibles are making these treatments more accessible and credible. At the same time, the intersection of cannabis with biotech and wellness is opening the door to higher-margin segments, including prescription-grade therapies and personalized medicine. As regulations become clearer and larger pools of capital step in, medical marijuana is positioning itself as a major, long-term player in the global healthcare and life sciences landscape.

HERBAL DISPATCH REPORTS ACCELERATING VETERAN CUSTOMER GROWTH AND EXPANSION OF INSURANCE-FOCUSED SERVICE CHANNEL - Herbal Dispatch Inc. (CSE: HERB) (OTCQB: LUFFF) ("Herbal Dispatch" or the "Company") (FSE: HA9) is pleased to provide an update on the continued growth and expansion of its veteran-focused medical cannabis channel.

The Company has experienced sustained acceleration in veteran customer acquisition, driven by targeted outreach, streamlined onboarding, and a dedicated service model tailored to the needs of veterans. Herbal Dispatch is currently onboarding hundreds of new veteran clients per month, demonstrating accelerating demand and continued optimization of its veteran acquisition and conversion strategy.

This growth has resulted in an expanding base of active veteran clients and increasing recurring revenue contribution from the insured medical channel. Veteran customers typically demonstrate strong retention and consistent monthly purchasing behaviour, supporting a predictable and scalable revenue stream.

The veteran channel represents one of the most attractive segments within the Company's business model. On average, the Company sees approximately $7,000 in annual insured spend per client. Combined with 50%+ gross margins and high customer retention rates, results in a highly scalable recurring revenue stream. The Company continues to invest in this channel as a priority growth area, given its strong lifetime value characteristics and efficient customer acquisition profile.

In the first quarter of 2026, the Company increased veteran registrations by approximately 400% compared to all of 2025. Notably, total insured cannabis gross sales revenue for the full year 2025 was $675,000, nearly matched in the first fourth months of 2026 alone--implying a current annualized run rate of ~$2.23 million. This run rate is expected to continue to increase over 2026 as the Company builds out its veteran marketing and sales platform.

Herbal Dispatch Insured Medical Cannabis Sales Snapshot
Metric	2025	Q1 2026	Current (Apr 2026)	Q2 2026 (Est.)
Gross sales	$675,000	$438,000	$186,000	~$850,000
Annualized sales	$675,000	$1.75M	~$2.23M	~$3.5M–$4M

Dedicated Veteran Channel & Insurance-Focused Service - Herbal Dispatch operates a dedicated channel for veterans, offering bespoke services designed to simplify access to medical cannabis, with a particular focus on insurance-supported care, including programs administered through Blue Cross.

The Company provides a concierge-style service, where orders are curated for clients based on individual preferences, medical needs, and coverage parameters. This model is designed to reduce friction for patients navigating insurance processes, and create alignment with eligible coverage, ensuring each client fully utilizes their monthly insurance allotment while optimizing outcomes and consistency of care.  Continued…  Read this full release and additional news for Herbal Dispatch by visiting:  https://finance.yahoo.com/quote/HERB.CN/

Latest News and Developments for Medical Marijuana/Cannabis Companies include:

High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, recently announced that it has signed a term sheet (the "Term Sheet") with one of Canada's Big 5 chartered banks (the "Lender") in respect of new senior secured credit facilities (the "New Credit Facilities") in the principal amount of $40 million. Upon closing, the New Credit Facilities will replace the Company's existing senior credit facility with connectFirst Credit Union. The name of the Lender will be disclosed at closing, which is expected within 60 days subject to satisfaction of customary conditions precedent.

"Having a Big 5 Canadian bank step in as our senior lender marks a clear inflection point for High Tide. This is not just access to capital -- it is institutional validation of the scale, consistency, and quality of the business we've built. Our model is delivering where others have struggled, and that discipline is now translating into materially lower-cost capital," said Raj Grover, Founder and Chief Executive Officer of High Tide.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the U.S, recently announced the opening of a new medical cannabis dispensary in Belleview, Florida.

The dispensary will host a grand opening celebration on Friday, May 8, featuring specials, discounts, and partner giveaways.

"We are proud to expand access to medical cannabis and deepen our presence in Central Florida," said Trulieve's Chief Executive Officer Kim Rivers. "This new dispensary brings Trulieve's high-quality products and exceptional customer service to patients and caregivers in the Belleview community."

Glass House Brands Inc. (OTCQX: GLASF) recently announced that it has submitted applications to register certain California-licensed medical cannabis operations with the U.S. Drug Enforcement Administration (DEA) pursuant to the expedited registration pathway established by the recent rescheduling of medical cannabis to Schedule III under the Controlled Substances Act.

In connection with the Schedule III reclassification of medical cannabis, the DEA established an expedited registration process for eligible state-licensed medical marijuana operators. Medical cannabis dispensaries that register with the DEA during the 60-day window may operate under Schedule III while the DEA processes those applications.

Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF), a leading international provider of consumer products in cannabis, reported its financial and operating results for the first quarter ended March 31, 2026. All financial information is reported in accordance with U.S. generally accepted accounting principles ("U.S. GAAP" or "GAAP") and is provided in U.S. dollars unless otherwise indicated.

"2026 is off to a strong start across the business," stated Boris Jordan, Chairman and CEO of Curaleaf. "The macro headwinds that constrained growth over the past three years are now beginning to turn into meaningful tailwinds. Moreover, the historic rescheduling of medical cannabis provides a shift in the trajectory of our business and the industry overall, for which we are well-positioned. The investments we've made in the core pillars of our "Built for Growth" strategy are translating directly into tangible performance. First quarter revenue was $324 million, with 6% year-over-year growth, exceeding both our guidance and internal expectations. Our domestic and international segments grew 2% and 35%, respectively. Gross margin was 49% and adjusted EBITDA was $63 million, or a 20% margin, including a 170 basis point drag from international. Net income from continuing operations was $70 million or $0.09 per share. As we continue with our "Built for Growth" strategy, we believe we are uniquely positioned not just to benefit from the recent regulatory shift, but to lead the next phase of industry growth."

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