Save 60% Off all remaining inventory with Promo Code: ICE

Europe Poised to Become the Largest Medical Cannabis Market Globally

January 27, 2019

Medical cannabis patient numbers continue to rise all across Europe, priming the continent to become the largest market in the world over the next 5 years.

According to a report released by Prohibition Partners at Davos World Economic Forum in Switzerland, they expect Europe cannabis patient numbers to grow from 130,000 to 225,000 and reach €18 billion in Europe’s largest markets – Italy, Netherlands, and Germany. They also anticipate the total market value for all of Europe to top €58 billion (over $66 billion USD) by 2028. Their extensive review is titled The European Cannabis ReportTM  4th Edition.

In addition to economic potential, the report also outlines how a slew of legal changes and increased social awareness regarding cannabis’ health benefits have influenced the industry. Overall, there are 14 countries in the European Union with medical cannabis programs and just last year, prescription cannabis products were legalized in the UK, Spain, and Malta.

Europe cannabis market is growing

Europe cannabis market is growing

And that’s not all that’s been going on in Europe. The EU is also currently working on a plan to consolidate cannabis laws across the country into one uniform plan. Additionally, the French National Agency for Medicines and Health Products Safety publicly acknowledged the medicinal value of cannabis.

According to Stephen Murphy, Co-Founder at Prohibition Partners, “The European cannabis market is undergoing a transformative moment, driven by sky-rocketing demand. This has pushed national governments across the continent into action and Europe is poised to become a hotbed for medicinal development.”

Murphy also believes that politically driven changes can prompt additional industry growth. “Most countries base their legal status on WHO/UN Drug Conventions. WHO is now reassessing the legal status of cannabis, and EU Committees are looking at how to regulate cannabis usage internationally. This will fuel rapid growth in the coming years.”

Murphy made a few other main points during the conference. He discussed Germany’s market specifically, which is valued at €133 million and grew from 1,000 patients in 2017 at the onset of medical legalization, to 40,000 patients by the end of last year. He also brought attention to the fact that barely any countries in Europe are actually equipped to supply the rapidly growing number of consumers, aside from the Netherlands and Israel which have legalized cannabis imports.

Also unlike Israel, which is leading the world in cannabis research, most of Europe is currently lacking clinical data. Solid medical studies are a major factor in driving legislation changes. Once the EU can work out these few obstacles, Europe is in a position to become the largest medical cannabis market in the entire world.

Want to learn more? Subscribe to The Medical Cannabis Weekly Report newsletter.

The post Europe Poised to Become the Largest Medical Cannabis Market Globally appeared first on Cannadelics.

Also in Education

Weed around the world: Bangkok, Thailand

September 26, 2022

Faced with Thai immigration, I fix my most benign smile, try not to look overly excited about the recent government decision to legalise weed, and I’m waved through. June 9th,…

Continue Reading

7 States Where Cannabis Users Can Easily Find Jobs

September 26, 2022

As cannabis laws continue to change at bewildering speeds, the topic of employee workplace protections becomes increasingly relevant. Honestly, with how many people support legalization these days and the astronomical inflation we’ve been experiencing, it makes no sense that cannabis users should have to struggle to find decent jobs. Some states are taking action by […]

The post 7 States Where Cannabis Users Can Easily Find Jobs appeared first on Cannadelics.

Continue Reading

New Zealand Approves Sale of Domestic Cannabis Products

September 26, 2022


New Zealand Approves Sale of Domestic Cannabis Products by Marguerite Arnold

The island nation of New Zealand has relied on exports to treat medical cannabis patients so far. Allowing the dispensation of domestically cultivated cannabis will help the nascent industry grow and lower overall costs. Last week, New Zealand officials approved the beginning of the domestically sourced medical cannabis market. The Department of Health began allowing […]

A link to your site, with your site's name and description as anchor text.

Continue Reading

Inventory Clearance Sale

Save 60% Off all remaining inventory with Promo Code: ICE