Legal Cannabis Sales Outsold Viagra in 2016

2016 was a banner year for both the medical and recreational cannabis industries, with seven states legalizing cannabis in one form or another. The legal medical and recreational cannabis industries raked in between $4 billion and $4.5 billion in 2016, outpacing sales of Viagra and Cialis, effectively dethroning the billion-dollar male enhancement industry.

added up to $2.7 million in 2016. At $4-4.5 billion dollars, the cannabis industry outsold male enhancement drugs by over a billion dollars. The numbers indicate the importance of the cannabis industry. “In 2017, we expect overall marijuana sales in the United States at the retail level to soar by roughly 30 percent, hitting $5.1 billion-$6.1 billion on the back of continued growth in existing recreational cannabis markets,” the Marijuana Business Factbook 2017 states. “In fact, rec sales are expected to surpass medical this year for the first time ever.” The combined markets are expected to grow steadily each year, until hitting $11.9-$17.1 billion in 2021.

The explosive male enhancement industry happened by accident. In 1991, the first trial of  a heart disease drug  indicated an odd side effect—penile erection. Sildenafil was branded as Viagra and has been generously prescribed to over 64 million men worldwide since The Food and Drug Administration approved it in 1998. Other similar enzyme inhibitors would follow: Tadalafil (Cialis) and Vardenafil (Levitra). But even Viagra-related drugs cannot compete with legal recreational and medical cannabis.

As highlighted in the report, legal recreational and medical cannabis sales outsold paid music streaming services, tequila and girl scout cookies. With 165,000 to 230,000 employees, the cannabis industry employs more individuals than the number of dental hygienists, bakers and massage therapists. The cannabis industry is also on its way to employing more individuals than the number of telemarketers and pharmacists. The report gives us a clearer look at where the cannabis industry stands in comparison to other industries.