Throughout the 20th century and well into the 21st century, the controversy has carried on – but the arguments of those opposed to the sale, distribution, and use of cannabis may be finally going up in smoke. Due in large part to a growing number of respected scientific studies, the global trend toward the legalization and distribution of cannabis is on the rise.
According to the US National Library of Medicine, cannabis can have dramatic effects on relieving neuropathic pain and spasticity due to Multiple Sclerosis and peripheral neuropathy in HIV/AIDS patients. Other studies have shown that cannabis may even relieve pain associated with patients suffering from advanced cancer.
Study after study indicates that cannabis may lessen or prevent chemotherapy-induced nausea and vomiting, and cannabidiol – one of the at least 13 active cannabinoids identified in cannabis – is showing promising signs in the fight against breast cancer cell progression. Cannabis has also been linked to several benefits:
While American and Canadian politicians continue to squabble on opposite sides of the fence, the cannabis market is going global. More and more countries are strengthening the trend by relaxing their regulations regarding the use and distribution of cannabis, allowing producers to expand into international markets.
But don’t get too excited – not only is the international cannabis trade currently limited to medical distribution and research, but international sale and distribution is complicated at best. Not only must companies meet the International Narcotics Control Board (INCB) regulations but they must be well versed in the export and import regulations for each country with whom they wish to do business. Even with these limitations and restrictions however, the global market of exportation and importation of medical marijuana is on the rise.
Canada has undoubtedly led the way in the international cannabis trade as the first G7 nation to have adopted a national medical cannabis system. Germany legalized medical marijuana at the beginning of 2017 and quickly became Canada’s largest export destination, but many more countries are falling suit.
Australia’s Department of Health has recently approved the importation of medicinal cannabis, Israel – a country that has a global name for quality cannabis cultivation – is taking steps toward exportation, and Chile, the Netherlands, Croatia, Italy, and Finland are also entering the global stage of medical marijuana distribution.
With countries in Latin America, South America, Europe, and parts of Africa moving toward the legalization or decriminalization of cannabis, the need for language services seems obvious.
Ok fine. This isn’t yet a trend – but that’s the point.
Products, advertisements, and content need to be localized. We already know this, but the global marijuana market is brand spanking new – and it’s about to explode. Language services companies that take the lead will likely reap the rewards. Some studies have predicted that the market will increase exponentially in the coming years and may very well surpass USD 30 billion by 2021. A brand new international market requires the expertise of language services professionals. It’s high time the localization industry jumped into the international cannabis trade. Are you ready?
Simultaneously the smallest continent and one of the largest countries in the world, Australia is a country like no other, as is its language services industry. On the one hand, Australia has one of the highest proportions of immigrants in the world, with more than a quarter of all Australians having been born overseas.
The Nimdzi 100 is one of our flagship publications. It includes a ranking of the top 100 LSPs by revenue, a watchlist of large players that don’t disclose their revenues, and a detailed overview of the size and state of the language services industry. The Nimdzi 100 is widely considered an industry standard and is read by tens of thousands of people in the translation and localization space and beyond. LSPs, localization buyers, investors, savvy job seekers, and analysts will benefit from this free resource.
While we are still working hard to compile this year’s edition of the Nimdzi 100 — the ranking of the largest language service providers (LSPs) in the world — we can already confirm the first six positions on our ranking.