Extensive Cannabis Legalization Prompts the Rise of New Breath Detection Tech
FinancialBuzz.com News Commentary
NEW YORK, May 4, 2021 /PRNewswire/ -- While medical cannabis still dominates the broad cannabis marketplace, the growing awareness and legalization efforts are expected to further propel the overall industry forward. For example, earlier in March, New York became the latest state to legalize recreational cannabis, and in doing so is expected to become one of the nation's largest markets. The more welcoming perception towards cannabis legalization can be attributed to, in large part, the passage of the 2018 Farm Bill, which legalized production of industrial hemp, transforming it into a mainstream agricultural product. Soon after, numerous categories of CBD products started to appear. Overall, the cannabis market value was estimated at USD 22.9 Billion in 2020. The market is projected to witness a CAGR of 18.1% during the forecast period (2021-2026), according to data published by Mordor Intelligence. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Sundial Growers Inc. (NASDAQ: SNDL), Aurora Cannabis Inc. (NYSE: ACB), Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF), Taat Lifestyle & Wellness Ltd. (CSE: TAAT) (OTC: TOBAF)
As sales of such products are becoming more popular, so are some of the unwelcome consequences, such driving while under the influence of cannabis. As such, the need for a marijuana breathalyzer was understood. "The first commercial units of the Hound Marijuana Breathalyzer will be in the hands of customers this spring," Dr. Mike Lynn, an emergency room physician who is CEO and co-founder of Hound Labs, told High Times. "Production will ramp up throughout the rest of 2021."
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) just announced breaking news that, "it has received a notice of allowance from the United States Patent and Trademark Office (USPTO) for patent application, No. 17/019728 entitled, "Apparatus and Methods for Detection of Molecules". This Track 1 patent application is centered on innovations made by Cannabix with its FAIMS (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer technology. This patent application is the culmination of research and development work conducted by Cannabix scientists and engineers in the areas of ion mobility spectrometry, non-volatile molecule sampling and fluid dynamics. These developments will provide utility in several areas related to detection of molecules in breath.