Improving lives through safe access to medical cannabis treatment

The Emerging UK Cannabis Market

The UK medical cannabis market is taking off with a rising number of patients exploring the benefits of Cannabis-based medicinal products. Treatment is now available via specialist doctors on the GMC register and there are a number of clinics across the UK now open for patient access to safe and effective medical cannabis treatment.

Growth in the market will be influenced by the breadth and scope of the qualifying conditions that cannabis treats, as research informs the list of qualifying conditions for which cannabis can be prescribed the patient base will continue to expand.

Leading researchers DrugScience are currently collating data for the NHS through the largest observational research project in Europe. The data is aimed at demonstrating how substantially the benefits of medical cannabis outweigh the risks, prescriptions are then expected to be reimbursed as they are in many of our neighbouring EU countries.

As the size of the patient base expands, so too will the variety of products and the size of the medical market. Access is increasingly improving for patients in the UK and throughout Europe with many countries such as Finland and the Czech Republic introducing their own healthcare schemes and making declarations to subsidise 90% of medical cannabis prescription costs.

Germany currently constitutes over half of the medical cannabis market with the largest number of patients. Countries like France and the UK however will considerably improve patient access by 2025 and will also represent a significant share of the EU market. In the UK alone the potential number of patients is estimated to reach as high as 2.9 million.

The European market will be worth over €403.5 million by the end of 2021 and is further expected to outgrow the existing markets of North America. Investment in the ancillary sectors which support the cannabis industry has seen tremendous growth and as many industries suffered losses during the pandemic, the cannabis industry enjoyed an increase in sales.

Medical cannabis usage rates increased in the midst of lockdowns and evidence has shown the same to be true globally. Wholesale ordering has also seen a substantial increase as retailers anticipate higher levels of consumer demand. All data indicates the industry remains on course to continue growing at an unprecedented rate despite the persistence of the COVID-19 health crisis.

CBD businesses are now anticipating the release of an FSA approved list of cannabinoid products permitted for sale in the UK.

Last updated: 04/02/2022 3:37