Mexico is now being eyed by Medical Marijuana Inc., an industrial hemp giant based in California, as the next big market for the medical usage of marijuana.

The company's announcement came in light of the country's announcement that it issued two additional permits for medical marijuana, Puerto Vallara Daily News reported.

According to the report, Mexico's Federal Health Commission said that it will allow citizens' requests to import hemp oil to the country, which may be used to treat specific medical conditions like Epilepsy.

As for Medical Marijuana Inc.'s head Stuart Titus, he sees this as an opportunity that could potentially bring a $1 or $2 billion revenue over the next 10 years, if Mexico starts to fully allow medicinal use of the drug. The company is already importing its hemp oil to other Latin countries such as Brazil and expects that the situation in Mexico will be the same.

Apart from Medical Marijuana Inc., Business Insider reported that other companies that also manufacture medical marijuana also see Mexico as a thriving market for its product after the country's Supreme Court decision in November. The court's decision opened discussion for the legalization of the use of the drug, be it for recreational or medicinal purposes.

It should be clear that Medical Marijuana Inc.'s product called Real Scientific Hemp Oil or RHSO-X, lacks the psychoactive substance tetrahydrocannabinol or THC, which results into users getting that "high," but it contains cannabidiol.

According to research, cannabidiol has anti-convulsant and anti-psychotic effects, making it effective on treating various neurological and psychological disorders such as epilepsy, Parkinson's and schizophrenia.

As noted by Yahoo! News, Mexico's health ministry has already authorized imports of RHSO-X to be used on two patients that suffer from epilepsy.

This is expected to be the first of many permits, which will allow Mexicans suffering from conditions to have access to medical marijuana. For quite some time now, the debate for the legalization of the drug has been on going with many speaking for and against it.

The support for the legalization of marijuana has already garnered high profile support from Mexican politicians such as Jesus Zambrano, a lower house speaker.

According to him, "We have the challenge of proposing an alternative to the problem of the illegal market for marijuana and its negative consequences. Or remain as we are, running the risk of compromising the health, security and dignity of people."

Another supporter for the legalization of marijuana comes from Senate President Roberto Gil, who also added that Mexico's current drug policies need to change.

If the drug becomes fully legal, but regulated in the country, it could prove to be a very lucrative business for many investors.