Canadian CANNAINVESTOR Magazine Canadian Publicly Traded April / May 2019 | Page 244

Additionally, a New York University study had revealed that the number of U.S. adults between the ages of 50-64 who use cannabis has doubled in the past decade. Moreover, the number of adults aged 65 or older, who also use cannabis, have increased sevenfold. Among the older generation, many are using cannabis primarily for medical applications as cannabis has been associated with the treatment of certain medical conditions such as cancer, chronic pain, Alzheimer's, arthritis, and epilepsy.

According to exurbs referencing the Canadian Centre on Substance Use and Addiction research on Substance Use and Aging, older adults represent the fastest growing segment of society. In Canada, the aging population is expected to grow faster than in most other developed countries. The aging trend is likely to continue for the next several decades. Current estimates project that the number of individuals over the age of 60 worldwide will reach two billion by 2050, representing 22% of the overall population. The world’s population is expected to increase 3.7 times from 1950 to 2050; during that same period, the population of individuals age 60 and older will increase by a factor of 10. By 2036, approximately 25% of Canada’s population will be 65 years of age and older. In fact, Canada’s aging population is expected to grow faster than most other developed countries, with current projections stating it will take just 33 years for the number of people age 65 and older to increase by 10%. In comparison, the United States is expected to take nearly 50 years to realize this same percentage increase.

In researching trends with cannabis use and seniors, the term “cohort effect” is used prevalently. For reference, Cohort effects derive from differences between groups of people who go through a common initial event (e.g. birth) in the same time unit (e.g. year). Whereas, Period effects arise from events and changes happening as time passes by that affect individuals of all ages, for example: wars, famine, policy changes. Although the percentage of seniors using cannabis is small, this is said to be the result of its lack of exposure at a young age. This small percentage however, is offset by the sheer size of the senior population, in Canada as noted above, growing at rates well above other developed countries around the world. In addition, as our younger generation (for argument sake, someone born in the 1990’s) grows older, the percentage of seniors using cannabis will increase. The cohort effect.

Reference:

University of California, Support for Marijuana (Cannabis) Legalization: Untangling Age, Period and Cohort Effects

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