For entrepreneurs and investors interested in European healthcare cannabis markets, a new report from Marijuana Business enterprise Everyday delivers a realistic snapshot of existing possibilities and how future demand could evolve.
The report – “Medical Cannabis in Europe: The Markets & Opportunities” – was written by MJBizDaily‘s international analyst, Alfredo Pascual.
For companies to make forecasts with any semblance of certainty, Pascual mentioned it is a lot more crucial than ever to initial get a clear, correct image of what is taking place now.
“It’s the initial report that estimates for the year 2018 how considerably was sold in every relevant nation, the varieties of solutions, how these have been distributed and exactly where they have been made,” Pascual mentioned.
Only 3 nations in Europe – Germany, Italy and the Netherlands – had meaningful sales of healthcare cannabis that year, according to the report.
Year-more than-year sales doubled in Europe from 2017 to 2018, underpinned by sturdy demand in Germany and Italy, although the quantity of MMJ prescriptions decreased in the Netherlands in that time.
Other nations in the European Union took methods in the correct path, either advancing legislation or introducing (or enhancing) regulations.
Tracking the regulatory progress of these markets is crucial because it requires years to create a functional healthcare cannabis market – and some markets get snagged more than poor, or slow-moving, regulations.
“The quantity of nations with some healthcare cannabis legislation and their population numbers need to be interpreted with caution,” Pascual mentioned. “To have a total image, providers and investors interested in the European market place need to also contemplate how considerably it is basically becoming sold and how restrictive regulations are.”
“Significant time may pass from the moment a nation approves particular healthcare cannabis legislation and a true market place emerges.”
Examples supplied of this have been the Czech Republic, Croatia and North Macedonia, which nevertheless have insignificant markets years following their applications started to be implemented.
The report, which is readily available as a free of charge download, finds instant possibilities consist of:
- Export to Germany, which will rely on imports for the foreseeable future to meet its domestic demand.
- Setting up cultivation or production facilities in the nations that enable it or are preparing for it, like Cyprus, Denmark, Greece, Malta, North Macedonia and Portugal.
This report also covers:
- International policy considerations at a United Nations and European Union level.
- The Major Markets: Germany, Italy and the Netherlands.
- Nations that created a framework with a key purpose of exporting.
- Nations that have smaller sized national applications.
- The subsequent major European nations that could tip the scales.
Pascual mentioned the report identifies bottlenecks in the most relevant nations, which need to be of interest for companies in the sector.
“It shows an overview of every nation that enables domestic cultivation,” he mentioned.