News Europe German Medical Cannabis Patients To Top One Million

German Medical Cannabis Patients To Top One Million

-

A REPORT into the German medical cannabis market estimates the number of patients totalled over 60,000 in less than two years since first approved.

The ‘Germany Cannabis Report’ from Prohibition Partners also states that within a few years that number will have risen to one million patients.

And, it estimates the total German cannabis market will be worth €16.2bn billion by 2028, with the medicinal cannabis market estimated to be worth €7.7bn by the same time.

This comes as Canadian firm Aphria, one of the few from that country to be currently showing a profit, say that by next year Germany will be contributing almost half it revenues. 

In a first quarter results announcement Aphria said with 2020 revenue projections estimated at $700m, its ‘German distribution business will represent slightly more than half of the total net revenue’. 

Daragh Anglim, Managing Director Prohibition Partners, says in the introduction to the report that the rapid growth of the German market ‘is unprecedented in Europe’. 

Adding: “Major change has followed across the continent but Germany remains one of the most open, promising and exciting markets in the region.” 

The report, which was released in October, last year, highlights the supply problems facing the German market which is currently reliant on imports from Canada, Holland, Portugal and Australia.

In an effort to combat this production licences were granted earlier this year, and of the 13 lots, Aphria and Aurora secured five, and Demecan received the remaining three lots. 

Each lot allows the holder to grow 200 kilograms per year for a four-year period. And the report adds: “The reality is that the German tendered facilities are not going to meet the domestic medical cannabis quantity demand.” 

It says patients requesting medical cannabis are being supported by a robust public health insurance regime, which covers 90% of the population.

The monthly allowance 100 grammes is generous and the ‘insurance companies cover all cannabis treatments and do not specify which conditions are covered’. 

Medical cannabis in Germany is very expensive, however, with an average price to patients of between €20 and €25 per gram for flower. 

In the Netherlands, medical cannabis is sold to patients for approximately €7 per gram, says the report.

Peter
Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

The UK Medical Cannabis Industry Can – And Does – Provide Epilepsy Medicines For Children In Post-Brexit Britain

Pierre Van Weperen of Grow Pharma on the post-Brexit issue surrounding the import of epilepsy cannabis medicines into the...

Dozens of CBD Brands In A State of ‘Absolute Panic’ With UK Novel Food Deadline Weeks Away

THE New Year has brought a realisation that the Novel Food deadline is less than three months away leading...

Work Gets Underway On Scotland’s First Medical Cannabis Cultivation and Production Facility

SCOTLAND’S first home-grown cannabis medicines could be in UK patients’ hands in early 2022 after work started on a...

Amazon Enters CBD Retail Market – But Only In One Country

GLOBAL on-line retail giant Amazon is dipping its toes into the CBD market with the first ever products now...

Markets: US Stocks Surge With Democrats’ Victory, Columbia Care, Sativa Wellness, Cann Group et al…

WITH the Democrats in control of the White House, Senate and Congress Wall Street now beckons for America's cannabis...

Channel Island Firm Secures Britain’s First High-THC Commercial Cultivation Licence For Over 20 Years

CHANNEL islands company Northern Leaf has successfully secured a medical cannabis cultivation licence to produce medicines for the UK...

Must read

You might also likeRELATED
Recommended to you