Chart: New York Medical Marijuana Patient Counts Rising, But Still Have Long Way to Go

By Marijuana Business Daily on September 25, 2016News
Chart: New York Medical Marijuana Patient Counts Rising, But Still Have Long Way to Go

By Eli McVey

After an abysmal start, New Yorks fledgling medical marijuanaprogram is finally building momentum.

Since late January shortly after the first dispensaries opened the number of registered patients has grown by an average of 32% a month.

There are now around 7,600 medical cannabis patients in the state, up 1,500% from 481 nearly eight months ago.

But the overall total remains small relative to New Yorks market potential, and the states licensed medical cannabis companies are still struggling.

New Yorks MMJ program began registering patients in December 2015, and the first dispensaries opened in January. Those businesses experienced weak initial demand because only a few dozen patients had registered as of opening day.

While its difficult to know just how many New York residents can qualify for MMJ based on the states current list of qualifying medical conditions, a recent Drug Policy Alliance report estimates the number is between 200,000 and 500,000. Splitting the difference would mean that just 2.2% of an estimated 350,000 eligible participants are currently enrolled in the MMJ program.

Many factors have contributed to New Yorks relatively low patient count, including a limited qualifying condition list, a lack of patient access to doctors that can recommend MMJ, a narrow and pricey selection of cannabis products, and a finite number of dispensaries.

Matt Karnes of GreenWave Advisors, a New York cannabis consultancy, believes the growth in patients reflect increased patient awareness and the addition of more doctors throughout the state who are authorized to recommend MMJ.

But Karnes added this growth is pretty dismal relative to the potential market size.

Regulators and lawmakers arehoping to improve the situation.They plan to move forward with several changes, including moves to:

  • Increase the number of licensed MMJ businesses to 10 from the current five.
  • Streamline restrictions on producing medical cannabis.
  • Allow home delivery of MMJ.
  • Permit nurse practitioners to certify patients.

While many in the industry view these proposed changes as business-friendly ...

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