5 Cannabis Sectors Poised to Thrive in 2020 and Beyond

Uber, Air BnB, Slack, WhatsApp, and Venmo all emerged from the economic crisis of 2008. What innovators and disruptors could come out of the 2020 pandemic?

Financial analysts and experts are predicting that a recession is coming due to the coronavirus outbreak - maybe even the worst economic downturn since the great depression. As much such a downturn will, unfortunately, hurt some people, others will thrive. If history tells us anything, depressions tend to produce some new and exciting startups in all industries.

With so many businesses currently shut down with no end in sight, medical cannabis has rightfully been deemed essential. Here are five sectors of the cannabis industry that could thrive during the upcoming crisis caused by the coronavirus.

• Delivery apps and online ordering. States like Colorado made cannabis delivery legal since lockdown recently, and customers can pick up their orders at dispensaries. App developers, service providers devoted to cannabis products as well as contactless dispensary experiences are no doubt going to do well during this uncertain time.
• Telemedicine for cannabis patients. Analytics and data collection is an emerging sector of the healthcare industry as a whole, and so is telemedicine. Patients who need to obtain or renew their medical cards will want to utilize this new technology. Doctors with practices will be smart to take advantage of this.
• Cryptocurrency. Even though delivery options are emerging, much of the cannabis industry is still-cash only. Companies who are innovating ways for customers to turn crypto into spendable cash will be attractive to legal cannabis customers.
• New extraction machines. Professional CO2 and butane extraction machines can cost millions of dollars. With so many businesses scaling back operations, extraction methods that are more affordable have the potential to be lucrative. This is especially true since cannabis flower purchases still aren’t legal in certain states with evolving medical programs.
• Growing equipment. Growers still have to produce essential plant medicine to supply caregivers and dispensaries for patients and customers. Transformations in automatic bud trimmers, grow environments that promote social distancing, app-controlled lighting, watering, and climate control are all areas that will help growers and breeders stay safe during the COVID-19 pandemic.

HashDash - Devoted to Innovation in the Cannabis Industry

Here at HashDash, we are just as excited about emerging startups and exciting technology as you are. We will continue to bring you informative, interesting content about the cannabis industry. Even though the pandemic and the upcoming crisis can be scary, we are all in this together. Humans adapt and evolve - it’s what we do! Thanks for reading!