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German Medical Cannabis Imports doubled in the 1st Quarter of 2021 (vs to 1st Q of 2020)

German medical cannabis imports

According to recently published data, the German medical cannabis market shows a growth of imports by 83% in the 1st quarter of 2021, almost doubled compared to the corresponding quarter of 2020, a figure that indicates a dynamically growing market.

Total imports in the 1st quarter of 2021 decreased to 3,259 kg compared to 3,468 kg in the 4th quarter of 2020. However, if we compare the recent imports with those in the 1st quarter of 2020 (1,776 kg), we will find that imports almost doubled.

The decrease between the two consecutive quarters (4th quarter 2020 and 1st quarter 2021) is due to the fact that the German Federal Institute for Drugs & Medical Devices (BfArM) issues a license for a maximum amount of imported flowers at the beginning of each year.

The Institute then states the demanded quantities to the German medical cannabis companies, which plan their imports they will make every quarter. Also, the importing companies prefer to import smaller quantities at the beginning of the year and increase them significantly during the rest of the year.

Based on the analysis of Prohibition Partners, it is estimated that the absorption of medical cannabis is about 0.15% of Germany’s population, which is much lower than the US percentages. Τhis is due to the fact that the barriers to purchase medical cannabis in Germany are probably higher. More specifically, medical prescriptions cover shorter periods, doctors prescribe fewer prescriptions for medical cannabis and pharmacies maintain a smaller stock of medicinal cannabis products.

VK PREMIUM offers an enhanced palette of advisory services to facilitate medical cannabis investments in Greece.

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