This is why MGC has the advantage21 Mar 2021 22:43
There are now 20 countries in Europe that have approved the use of medical cannabis and the market is expected to reach US$3.9bn per annum by 2025, according to a report by BDS Analytics and ArcView.
Europe has twice the population of North America and a mature European market is expected to exceed that of the US and Canada. At present, European sales are estimated to be around US$600m per annum. The bulk of these sales are coming from Germany, where almost 6 tons of cannabis were imported in 2019. The majority of imported product is still coming from Canada, highlighting the lack of quality European supply.
In the UK, a nascent but rapidly growing market for medical cannabis prescriptions is emerging, yet to date, there is no domestic supply given that GW Pharmaceuticals consumes all its own UK production for its licenced products globally.