A new study published by High Yield Insights has found that 44% of cannabis consumers in legal, adult-use marketplaces self-identify as medical users. According to the study, the three most common reasons for self-medicating with cannabis are as pain relief (69 percent of respondents), sleep aids (65 percent), and anti-anxiety medication (54 percent).
“The industry generally understands that the adult use consumer differs significantly from the medical user. We saw an opportunity to quantify this customer segment’s behaviors and preferences in a way to yield deeper understanding and reveal untapped market opportunities.” Mike Luce, co-founder of High Yield Insights, in a press release
The report suggests that medical users are twice as likely to check CBD content when they purchase a cannabis product (47 percent of medical users, compared to 25 percent of recreational users). Medical users also express a higher demand for alternative cannabis products and are twice as likely as adult-use consumers to use topicals (22 vs 11 percent) and more than three times as likely to use tinctures (17 vs 5 percent).
“Flower will always play a significant role, but medical users are seeking solutions that feel familiar and accessible. With edibles, we’re seeing a demand for low-dose, fast-onset options that meet users’ needs for discretion and convenience. CBD-focused companies also have an opportunity for growth if aligned with medical cannabis users’ interest in what today are niche product forms.” — Mike Luce, co-founder of High Yield Insights
Another High Yield Insights study, released in March, found that cannabis users in adult-use states were consuming less alcohol and fewer over-the-counter medications than before legalization happened.