Netherland, Italy, Germany 225000 med canna users Author: Gesa Riedewald
Published on: January 28, 2019
Modified on: January 28, 2019
Cannabis experts are watching the European market for cannabis as medicine closely. They expect rapid growth in the coming years. The number of cannabis patients in Italy, the Netherlands and Germany should rise to 225,000 by the end of the year. However, the experts also stress the importance of reliable clinical trials.
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Cannabis report: High demand for medicinal hemp
The sharp increase in the number of cannabis patients and the changes in legislation have led to a turnaround in the use of medicinal cannabis in Europe. This is the result of a new cannabis report by the cannabis expert Prohibition Partners in Davos. According to Prohibition Partners, this "European Cannabis Report" is the most comprehensive review of the leading cannabis markets in Europe. He forecasts growth at a record level for the coming years.
The cannabis report predicts patient numbers in Italy, the Netherlands and Germany will increase from 130,000 patients to 225,000 patients by 2019. In addition, the experts expect that the total market for medical cannabis will rise to 58 billion euros by 2028.
Cannabis as medicine is legal in meanwhile 14 European countries
The report points to a wave of legislative changes. Awareness of the potential health benefits of cannabis products is highlighted as a key growth driver.
In 2018, the United Kingdom legalized prescription cannabis, as did Portugal and Malta. There are now 14 countries in Europe that have legalized cannabis as medicine. EU legislators have laid the foundations for a Europe-wide harmonized regulatory framework for the use of pharmaceutical cannabis. The French Medicines and Healthcare Agency has recently recognized the medicinal value of cannabis.
Market for pharmaceutical cannabis is growing
For the year 2028, the Davos report expects the leading markets for medical cannabis - Germany, Italy and the Netherlands - to expand into an 18 billion euro industry.
Stephen Murphy, co-founder of Prohibition Partners, explains:
"The European cannabis market is in a state of flux, driven by rapid demand. This has forced national governments across the continent to act and Europe is ready to become a stronghold for medical development. "
Murphy also believes that the change brought about by political events can act as a catalyst for further growth.
"Most countries base their legal status on WHO / UN drug conventions. WHO is now revising the legal status of cannabis and EU committees are examining how cannabis use can be regulated internationally. This will bring about rapid growth over the next few years. "
The cannabis report shows that the lion's share of the growth will come from the German and Italian markets. These are the second and the third largest European market after the Netherlands. The German market currently has an estimated value of € 133 million and is expected to reach more than € 1 billion by 2020.
Murphy says, "Germany legalized medical cannabis in 2017, and patient numbers have risen from 1,000 to over 40,000. A wider range of diseases can be treated in Germany and a range of cannabis products is available. This will strengthen the value of the German medical cannabis market and enable it to grow at an impressive rate. "
Cannabis report: Many countries lack the infrastructure
While the report indicates high patient demand, it also states that access to cannabis as a medicine is still limited in many countries. Medicinal cannabis has been legal for several years in several European countries. However, the Davos report shows that very few countries have the infrastructure or legislation to provide for the patients. With the exception of the Netherlands and Israel, countries rely on cannabis imports. So far, this has also applied to Germany.
"Although we know that cannabis can treat more than 60 diseases, we lack the clinical data that is important in unlocking the full market potential. Reliable, reproducible research will be crucial to move conservative governments to reform. "