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European and Global market: Top trends for medical cannabis & CBD industry

We present the most important trends of the European & global market for medical cannabis & CBD for 2022, according to published research data:

1. Strong signs of growth in the European medical cannabis market, where the total population of respective patients will grow by more than 30% within 2022, bringing the total number of patients to 340.000.

2. In Europe, medical cannabis remains close to the existing healthcare system with courses of treatment being tightly controlled by regulators as well as the licensing of operators in the market.

3. Pilot schemes for medical cannabis are progressing across the European continent. France began their pilot scheme in 2021 as Denmark voted to extend theirs, Ireland began their new access scheme in 2022 and the trial in Luxembourg is now due for a first assessment.

4. The German medical market continues to grow steadily, with a 43% increase in sales of cannabis to pharmacies at the end of 2021, with the majority of growth coming from products sold to patients on private prescriptions.

All medical cannabis in Germany must be EU-GMP compliant which legislates for a high standard for production and the testing of medicines. It takes time to construct the capabilities to produce at this level, and longer to obtain the certification via an inspector from the European Union (EU) or a proxy from domestic regulators.

5. In England in the end of 2021 the number of unlicensed medical cannabis products dispensed for private prescription grew by 425% to an annual 23,466 products.

6. North American cannabis operators remain heavily invested in Europe, with hundreds of millions of euros worth of assets on the continent. 

7. Canada remains the largest exporter of medical cannabis to Europe but this is changing as more and more countries around the world begin exports, and Canadian producers shift cultivation to Europe. Operators in at least 15 European countries are now cultivating medical cannabis for commercial purposes.

8. Product shortages continue to plague countries like Italy, Malta and Poland mostly due to efficient regulations and approvals processes.

9. In the European countries the predominant primary condition for which medical cannabis patients are prescribed medical cannabis is for severe pain related conditions including e.g. chronic pain and neuropathic pain.

10. CBD products are becoming more legitimized, as of February 2022, the European Commission has listed at least 12 valid applications for CBD as Novel Foods, with more expected in the very near future which will lead to the first legally protected ingestible products on the continent.

The CBD market remains fragmented and will remain so for some time. If regulations such as the Novel Foods Act are enforced, this could trigger the closure of many smaller producers and the beginning of a long-awaited consolidation.

Source: Prohibition Partners

VK PREMIUM offers a comprehensive range of consulting services to facilitate cannabis investments in Greece, including strategy and design, product portfolio in line with current and future market trends, licensing, grants using investment law, construction and design according to EU GMP & GACP standards and distribution strategies in foreign markets.

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