The number of items prescribed in the UK’s private medical cannabis market has doubled each year since 2021, as the market continues its rapid expansion.
According to the latest figures from the NHS Business Services Authority (NHSBSA), published in response to an FOI request, the number of items for private prescribing of unlicensed cannabis-based medicines rose from 6137 in September 2021, to 22,431 in September 2023.
Pharmacies are not required to send this information to the NHS straight away, resulting in a significant lag in accurate data.
This can see figures updated well over a year after they were initially reported and explains why October 2023’s figures are well below September’s and could explain the 14% decline in September.
Despite these discrepancies, the figures paint a clear picture of a thriving and expanding market, with a compound annual growth rate of 84%.
Data has also been provided on the specifics of each product prescribed in a separate FOI request, which can be viewed in full hear.
These new stats come as CLEAR Cannabis Law Reform has published the third edition of its ‘How to Regulate Cannabis in Britain Report’.
Published on September 27, 2024, the third edition comes over 10 years after the second version of the report was made public in 2013, which was developed in conjunction with the Independent Drug Monitoring Unit (IDMU) study ‘Taxing the UK Cannabis Market’ (TUKCM).
The IDMU was asked to revise what remains the largest and most comprehensive study ever published on the subject, but said that all data collection programs on which its initial report was based have been terminated, and as such it would be impossible to replicate.
As such, the latest version of the report is predicated on data from 2011, but its authors have informed Business of Cannabis that aside from a drop in younger users using illicit substances, there has been little meaningful change since then.
However, the core principles of CLEAR’s comprehensive proposals remain unchanged, calling for the establishment of a ‘Cannabis Inspectorate’ to oversee the cultivation, distribution and sale of cannabis throughout the country, and ensuring each part of the supply chain is meeting safety standards.
This would include a head office, 10 analysis laboratories, 10 bonded warehouses, 10 regional offices, 100 local offices and 2060 staff, with an annual budget of £200 million.
While this may sound like a significant expense, the report argues that through legalising and taxing cannabis by £1 per gram, the Treasury would receive net annual income of between £3.3bn and £9.5bn.
The report outlines a proposed control regime that suggests moving from prohibition to a regulated and taxed market.
Key components of this regime include implementing excise duties based on cannabis potency, issuing domestic production licenses for personal use, and establishing a framework for licensed commercial production and distribution, akin to existing alcohol and tobacco regulations.
With between 1.5m and 2.7m people estimated to consume cannbais at least once a month, and 10m people thought to have consumed it in the last year, the projected cost savings of legalisation to the criminal justice system range from £293m to £646m, with an average saving of £512m.
However, new compliance costs are estimated to be between £157m and £317m averaging £214m.
The post UK Private Medical Cannabis Market Sees Exponential Growth, Doubling Yearly Since 2021 appeared first on Business of Cannabis.
Continue reading...
According to the latest figures from the NHS Business Services Authority (NHSBSA), published in response to an FOI request, the number of items for private prescribing of unlicensed cannabis-based medicines rose from 6137 in September 2021, to 22,431 in September 2023.
Pharmacies are not required to send this information to the NHS straight away, resulting in a significant lag in accurate data.
This can see figures updated well over a year after they were initially reported and explains why October 2023’s figures are well below September’s and could explain the 14% decline in September.
Despite these discrepancies, the figures paint a clear picture of a thriving and expanding market, with a compound annual growth rate of 84%.
| Date | Number of items for private prescribing of unlicensed cannabis-based medicines | Month-on-Month Change |
| Sep-21 | 6,137 | 15% |
| Oct-21 | 6,037 | -2% |
| Nov-21 | 6,527 | 8% |
| Dec-21 | 6,157 | -6% |
| Jan-22 | 6,657 | 8% |
| Feb-22 | 6,564 | -1% |
| Mar-22 | 8,305 | 27% |
| Apr-22 | 7,749 | -7% |
| May-22 | 9,380 | 21% |
| Jun-22 | 9,501 | 1% |
| Jul-22 | 10,354 | 9% |
| Aug-22 | 11,778 | 14% |
| Sep-22 | 11,936 | 1% |
| Oct-22 | 12,568 | 5% |
| Nov-22 | 15,040 | 20% |
| Dec-22 | 14,409 | -4% |
| Jan-23 | 15,117 | 5% |
| Feb-23 | 14,862 | -2% |
| Mar-23 | 17,814 | 20% |
| Apr-23 | 16,579 | -7% |
| May-23 | 20,026 | 21% |
| Jun-23 | 21,949 | 10% |
| Jul-23 | 23,736 | 8% |
| Aug-23 | 26,137 | 10% |
| Sep-23 | 22,431 | -14% |
| Oct-23 | 3,357 | -85% |
Data has also been provided on the specifics of each product prescribed in a separate FOI request, which can be viewed in full hear.
How to Regulate Cannabis in Britain
These new stats come as CLEAR Cannabis Law Reform has published the third edition of its ‘How to Regulate Cannabis in Britain Report’.
Published on September 27, 2024, the third edition comes over 10 years after the second version of the report was made public in 2013, which was developed in conjunction with the Independent Drug Monitoring Unit (IDMU) study ‘Taxing the UK Cannabis Market’ (TUKCM).
The IDMU was asked to revise what remains the largest and most comprehensive study ever published on the subject, but said that all data collection programs on which its initial report was based have been terminated, and as such it would be impossible to replicate.
As such, the latest version of the report is predicated on data from 2011, but its authors have informed Business of Cannabis that aside from a drop in younger users using illicit substances, there has been little meaningful change since then.
However, the core principles of CLEAR’s comprehensive proposals remain unchanged, calling for the establishment of a ‘Cannabis Inspectorate’ to oversee the cultivation, distribution and sale of cannabis throughout the country, and ensuring each part of the supply chain is meeting safety standards.
This would include a head office, 10 analysis laboratories, 10 bonded warehouses, 10 regional offices, 100 local offices and 2060 staff, with an annual budget of £200 million.
While this may sound like a significant expense, the report argues that through legalising and taxing cannabis by £1 per gram, the Treasury would receive net annual income of between £3.3bn and £9.5bn.
The report outlines a proposed control regime that suggests moving from prohibition to a regulated and taxed market.
Key components of this regime include implementing excise duties based on cannabis potency, issuing domestic production licenses for personal use, and establishing a framework for licensed commercial production and distribution, akin to existing alcohol and tobacco regulations.
With between 1.5m and 2.7m people estimated to consume cannbais at least once a month, and 10m people thought to have consumed it in the last year, the projected cost savings of legalisation to the criminal justice system range from £293m to £646m, with an average saving of £512m.
However, new compliance costs are estimated to be between £157m and £317m averaging £214m.
The post UK Private Medical Cannabis Market Sees Exponential Growth, Doubling Yearly Since 2021 appeared first on Business of Cannabis.
Continue reading...
