Berlin, Germany – 16 October, 2024 – Following the adoption of the CanG and the associated MedCanG Act, the German medical cannabis market is witnessing significant growth, with German medical cannabis sales expected to reach €420 million in 2024, rising to over €1 billion by 2028.
Published today in The German Cannabis Report by Prohibition Partners, this projection is fueled by several factors, including the removal of cannabis from Germany’s schedule of narcotic drugs thereby easing the previous bottlenecks associated with its handling, distributing, dispensing and prescription. This, in part, is fueling patient population growth, prescription rates and the rise of medical cannabis telemedicine operators.
Additionally, the BfArM (The Federal Institute for Drugs and Medical Devices) has removed the tender process for domestic medical cannabis cultivation, allowing new cultivators to apply for a licence to cultivate in the country, opening the market to larger competition.
A Growing Patient Population
Doctors in Germany have the freedom to prescribe medical cannabis for any condition they deem may significantly help their patients. Additionally, recent policy changes, such as removing cannabis from the narcotics list, are expected to further improve patient access.
The volume of medical cannabis sold in pharmacies increased by about 30% in Q3 2023 compared with Q3 2022. The number of patients further increased significantly following the implementation of the new cannabis laws in April 2024.
Reimbursement
Germany has an established reimbursement framework for medical cannabis treatments by statutory health insurers. This public support accounted for approximately half of the market until 2023.
In July 2024, Germany’s Federal Joint Committee (G-BA) approved proposals to streamline the reimbursement process, which will likely further ease access to several patients as medical cannabis becomes more affordable.
Domestic Cultivation & Imports
The removal of the tender process has opened the cultivation market to competition. This will likely lead to an increase in domestic production, which could eventually reduce Germany’s reliance on imports. However, following the adoption of the CanG Act, medical cannabis imports saw a considerable increase of 44% with Q2 2024 medical cannabis imports reaching an all-time quarterly high of 11,706 kilograms compared with Q1 2024 at 8,143 kg.
Alex Khourdaji, senior analyst at Prohibition Partners and co-author of the report, commented: “Germany’s cannabis market is currently at a pivotal point. The CanG Act has set in motion a series of transformative changes, creating both opportunities and challenges for businesses and consumers alike. The success of these reforms will depend on ongoing adaptation and a commitment to finding a balance between public health, social responsibility, and economic growth.”
Vladimir Kofcegarski, Chief Sales Officer at PHCANN International, one of the report’s sponsors and sponsor of the upcoming Business of Cannabis: Executive Summit in Berlin, said: “Germany’s recent legislation marks a new era in the cannabis industry in Europe. This is a pivotal opportunity for innovation, economic growth and responsible regulation for all of us in the industry. With Germany as the main driver of cannabis sector de-stigmatisation in Europe, we now have the tools and responsibility to build foundations that will foster sustainable practices and standards.”
About Prohibition Partners
Prohibition Partners is a data, media and tech company operating in the fast-growing legal cannabis industry. We provide the industry with specialist information, data analytics and digital commerce solutions.
For additional comment, more information about the report or visualisations of data, please contact Mike Hoban – michael@prohibitionpartners.com
The post Medical Cannabis Sales in Germany Expected to Reach €420 Million in 2024 appeared first on Cannabis Health News.
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Published today in The German Cannabis Report by Prohibition Partners, this projection is fueled by several factors, including the removal of cannabis from Germany’s schedule of narcotic drugs thereby easing the previous bottlenecks associated with its handling, distributing, dispensing and prescription. This, in part, is fueling patient population growth, prescription rates and the rise of medical cannabis telemedicine operators.
Additionally, the BfArM (The Federal Institute for Drugs and Medical Devices) has removed the tender process for domestic medical cannabis cultivation, allowing new cultivators to apply for a licence to cultivate in the country, opening the market to larger competition.
A Growing Patient Population
Doctors in Germany have the freedom to prescribe medical cannabis for any condition they deem may significantly help their patients. Additionally, recent policy changes, such as removing cannabis from the narcotics list, are expected to further improve patient access.
The volume of medical cannabis sold in pharmacies increased by about 30% in Q3 2023 compared with Q3 2022. The number of patients further increased significantly following the implementation of the new cannabis laws in April 2024.
Reimbursement
Germany has an established reimbursement framework for medical cannabis treatments by statutory health insurers. This public support accounted for approximately half of the market until 2023.
In July 2024, Germany’s Federal Joint Committee (G-BA) approved proposals to streamline the reimbursement process, which will likely further ease access to several patients as medical cannabis becomes more affordable.
Domestic Cultivation & Imports
The removal of the tender process has opened the cultivation market to competition. This will likely lead to an increase in domestic production, which could eventually reduce Germany’s reliance on imports. However, following the adoption of the CanG Act, medical cannabis imports saw a considerable increase of 44% with Q2 2024 medical cannabis imports reaching an all-time quarterly high of 11,706 kilograms compared with Q1 2024 at 8,143 kg.
Alex Khourdaji, senior analyst at Prohibition Partners and co-author of the report, commented: “Germany’s cannabis market is currently at a pivotal point. The CanG Act has set in motion a series of transformative changes, creating both opportunities and challenges for businesses and consumers alike. The success of these reforms will depend on ongoing adaptation and a commitment to finding a balance between public health, social responsibility, and economic growth.”
Vladimir Kofcegarski, Chief Sales Officer at PHCANN International, one of the report’s sponsors and sponsor of the upcoming Business of Cannabis: Executive Summit in Berlin, said: “Germany’s recent legislation marks a new era in the cannabis industry in Europe. This is a pivotal opportunity for innovation, economic growth and responsible regulation for all of us in the industry. With Germany as the main driver of cannabis sector de-stigmatisation in Europe, we now have the tools and responsibility to build foundations that will foster sustainable practices and standards.”
About Prohibition Partners
Prohibition Partners is a data, media and tech company operating in the fast-growing legal cannabis industry. We provide the industry with specialist information, data analytics and digital commerce solutions.
For additional comment, more information about the report or visualisations of data, please contact Mike Hoban – michael@prohibitionpartners.com
The post Medical Cannabis Sales in Germany Expected to Reach €420 Million in 2024 appeared first on Cannabis Health News.
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