The legal cannabis industry in North America is estimated to be worth USD 12.4 billion in 2021, and from 2022 to 2030, it is anticipated to increase gradually at a CAGR of 15.3%. The 1937 Tax Act rendered cannabis illegal. In 1996, California became the first state to legalize cannabis for medical use. The legal cannabis market has been significantly shaped by North America. Most states in the U.S. and Canada have legalized cannabis use for both medical and recreational uses.
Cannabis is utilized as dried flowers or buds, tinctures, oils, and extracts. It is widely used to halt or lessen seizure episodes in epileptic seizures. There have only been a few studies on the effects and functioning of cannabidiols, or the active compounds in cannabis, despite the fact that it is rapidly gaining acceptance as an alternative treatment in the medical community. CBD and THC, the active compounds in cannabis, both bind to pain receptors and reduce the signals being transferred. Because of these effects, it is frequently prescribed for chronic pain in conditions like multiple sclerosis, HIV/AIDS, etc.