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Some, like WeedMD Inc. (TSX-V:WMD) out of Alymer, Ontario, have strategically positioned itself to focus on two seemingly underserved markets: woman, and the elderly. Both of these two demographics have statistically chosen alternative delivery methods for cannabis versus traditional smoking or vaping. WeedMD recently announced that it has entered into a LOI with Tokyo Smoke Brandco to license Van der Pop, a premium female-focused cannabis brand, and is targeting long-term care facilities in serving the elderly.
Their June 15, 2017 press release states that:
“Partnering with Van der Pop brings WeedMD further along its strategic path of targeting unique and under-served demographics of the Canadian cannabis market, including the difficult-to-penetrate long-term care and retirement sectors. With receipt of its sales license in April, the Company is now shipping dried cannabis as well as live cannabis plants to patients, and looks forward to addressing the ongoing needs of the diverse and rapidly growing medical cannabis market.”
CBS News reported that in 2016 in the United States, seniors were the fastest growing demographic of cannabis users. The full video can be found here. It remains to be seen how Canada’s market will take shape and whether this trend will be seen here, but a recent Globe and Mail article suggests that two-thirds were taking it to treat arthritis which is more prevalent in the elderly. The Arthritis Society has for several years now, offered research grants to cannabis companies to fund research between the use of medical cannabis and arthritis and other related medical conditions.
However, do these two market segments consume cannabis in the traditional fashion?
Its just hard to picture a 70 year old sitting out on their front porch rolling a joint, or even vaporizing for that matter. In fact, only 34% of seniors over the age of 65 smoke marijuana, according to a June 2016 survey on marijuana consumption pattern by age group. Categories in this poll include smoking dried marijuana, vaporizing dried marijuana, smoking or vaporizing hashish, smoking or vaporizing cannabis oil, consuming edibles, and something else.