Missouri ranks as one of the top states for medical marijuana
In just over two years since the first legal marijuana sale at a dispensary, Missouri has become one of the most successful medical marijuana markets in the country.
That news bodes well for operators, patients, and consumers in the state.
While other states have struggled to maintain and prioritize their medical programs with the launch of adult use marijuana, indicators suggest Missouri’s medical program will continue to thrive.
While patient numbers have dipped slightly in recent months, the active patient count dropped below 200,00 to 197,929 in February, Missouri’s medical marijuana patients haven’t seen the increased prices or shortages that have become commonplace in other markets with the launch of recreational marijuana.
According to new data from New Frontier, Missouri’s medical marijuana market ranks in the Top 7 for both market saturation and patient count.
Top 7 States by Patient Saturation
(as of January 2023)
REGISTERED PATIENT SATURATION %
1. OKLAHOMA 9.84%
2. NEW MEXICO 5.88%
3. PENNSYLVANIA 5.07%
4. DISTRICT OF COLUMBIA 3.89%
5. MAINE3 3.69%
6. FLORIDA 3.54%
7. MISSOURI 3.24%
Top 7 States by Patient Count
(as of January 2023)
REGISTERED PATIENT COUNT
1. FLORIDA 788,297
2. PENNSYLVANIA4 658,378
3. CALIFORNIA5 500,332
4. OKLAHOMA 395,681
5. OHIO 268,672
6. MISSOURI 200,253
7. MICHIGAN 178,642
The dispensary experience
As Missouri municipalities begin to implement sales tax for adult use marijuana sales, maintaining or obtaining a medical certification will become increasingly more cost effective for both instate and out-of-state patients.
Recreational marijuana purchases are taxed at 6%, but local municipalities can add up to 3% in additional sales tax to each transaction. That tax difference and the low cost to entry in obtaining a certification may make obtaining a medical marijuana card even more appealing. Many of Missouri’s dispensaries have prioritized medical patients, ensuring shorter lines and lessened wait time for medical card holders.
While sales numbers climb, the cost of marijuana products continues to see steady decreases, despite increased demand. Lower pricing and an ever-increasing variety of products, brands, and potencies has created a market lush with options for patients and consumers. And while Missouri has one of the most accessible home cultivation programs in the country, the number of home cultivators has fallen 14% in the last year, while newly legalized adult use cultivation licenses saw 469 applicants in its first month.
Missouri dispensaries sold $37 million in medical marijuana in January of 2023, while dispensaries brought in over $4 million in medical-only sales during the three-day period launching adult use sales between February 3 and February 5. In all, Missouri dispensaries brought in over $12 million in revenue during the opening weekend of recreational marijuana sales.