- The number of federally registered Canadians is down, but the number of users is not
- A large percentage of Canadians are managing their treatment without the help or oversite of a healthcare professional
- Retailers and product suppliers also benefit from RYAH’s suite of dose-control products, generating recurring revenue streams and strengthening their product offerings
RYAH Group (CSE: RYAH), a health care analytics and technology company, has developed and uses dose-measuring IoT devices to collect HIPPA-compliant data to improve future medical treatments. The Company is working with doctors, government, and university research centers to reduce the variations in their treatment plans and trials. The goal is to transform patient care with big data and AI that will reshape how the world understands plant-based medicine.
“The Canadian Medical Cannabis Market: Growing Pains in 2021” was recently published by RYAH. It brings to light some of the problems the market is facing and where the potential for growth lies. You can read the full article at (https://ibn.fm/Fa3i1).
RYAH has found that the number of federally registered patients has dropped slightly from 377,020 mid-2020 to 321,539 in mid-2021. However, the number of users is not down; they’ve simply migrated with 35,000 Canadians now registered to cultivate plants for personal use.
Medical Cannabis Canada (“MCC”) discovered that 40 percent of Canadians who currently use cannabis medically do not go through medical channels for their product. Over half of those surveyed by MCC shared that they had difficulty locating a supportive practitioner of medical cannabis. This means that a large percentage of Canadians are managing treatment without the help or oversite of a healthcare professional. There is little incentive for them to pursue medical channels, and they find the products they need elsewhere. This challenge is one the medical cannabis market will need to address to continue to be viable.
But there are also upsides to the country’s medical cannabis market. The export market is growing and holds great potential as more European countries begin to introduce legalization. Canada is well-positioned to become one of the world’s largest exporters.
RYAH partners with doctors to improve the standard of care for patients and researchers to provide a complete turnkey solution for clinical trials to be compliant and standardized. However, doctors and researchers aren’t the only ones who need dose-control products. Especially when over half of their patients are no longer seeking them out for guidance. Retailers and product suppliers also benefit from RYAH’s suite of dose-control products, generating recurring revenue streams and strengthening their product offerings. RYAH is working to remove any unnecessary obstacles and maintain a low entry barrier for dispensaries and smaller partners.
For more information, visit the company’s website at www.RYAHGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to RYAH Group are available in the company’s newsroom at https://ibn.fm/RYAH
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