Decline in Medical Cannabis Registrations in New Jersey and New Mexico

LOS ANGELES- Recent reports have highlighted a significant decline in the number of registered medical cannabis patients in New Jersey and New Mexico, following the launch of adult-use cannabis markets in both states. According to the New Jersey Monitor, the count of medical cannabis patients in New Jersey has decreased to approximately 80,000 as of mid-April, down from a peak of around 129,000 in May 2022. This decline coincides with the introduction of the state’s recreational cannabis market two years prior.

Similarly, New Mexico has experienced a decrease in registered medical cannabis patients, with state data showing just over 80,000 patients remaining, compared to over 100,000 a year earlier. KRQE noted that this drop occurred after the commencement of recreational sales in April 2022, the same month as New Jersey.

The shift away from medical cannabis registrations may be attributed to the simplified access to cannabis through recreational markets, which eliminates the need for a physician’s recommendation and registration. This trend is consistent across other states that have introduced recreational cannabis following established medical programs.

Moreover, the financial impact is evident in New Jersey, where medical cannabis sales fell to $124 million last year, down from $226 million in 2022, despite recreational sales surging to more than $675 million in 2023. This pattern suggests a significant migration of consumers from the medical to the recreational market, reflecting broader shifts in the cannabis industry.