The UK is driving the European medical cannabis market with expected patient numbers rising to 62,960 by the end of 2024, generating €240 million in sales due to high per-patient consumption rates, significantly outpacing Germany where the market is partly supported by public healthcare reimbursement. The total number of UK patients is projected to increase by 124% to about 141,000 by 2028.
The UK is the main driver of the European medical cannabis market growth, with sales higher than expected due to “unusually high” consumption volumes per patient.
By the end of 2024, for instance, 62,960 patients are expected to use medical cannabis in the UK, generating €240 million (£205 million) in sales. This means the average patient will spend €3,811 (£3,261) on medical cannabis per year, or €318 (£272) per month.
For comparison, in Germany, where the medical cannabis market and patient population are the largest in Europe, the average patient will spend €1,563 (£1,342) on medical cannabis per year, or €130 (£112) per month.
The average prices paid per gram of dried medical cannabis flower or per milliliter of oil are lower in the UK than in Germany, so the main factor contributing to this staggering 144% difference in spending is an even larger divergence in consumption volumes.
These findings were published in a new report by Prohibition Partners, a British data and cannabis intelligence firm.
For more news like this, along with all the latest in legalization, research, and lifestyle, download our free cannabis news app.
Lawrence Purkiss, a senior analyst at Prohibition Partners, commented on the potential reasons for high consumption rates in the UK compared to other European countries: “The comparatively high per-patient consumption rates in the UK are, at least in part, a consequence of the fact that the market is entirely private and self-paid. Financial incentives within the system are oriented towards high prescription volumes, unlike in Germany where at least 50% of patients have their medical cannabis costs reimbursed as part of public healthcare.”
Stephen Murphy, cofounder and CEO of Prohibition Partners, added: “The findings of the 9th edition of the European Cannabis Report highlight an intriguing trend: UK patients consume more than their counterparts in other European markets. Since the legalization of medical cannabis in 2018, private companies have sought to improve options and accessibility for patients. However, due to supply chain restrictions and costs, patients often opt for volume over frequency. This underscores the need to continue efforts to streamline regulations and improve financial accessibility to ensure patients’ needs are adequately met.”
The total number of medical cannabis patients in the UK is also expected to skyrocket over the next four years. By 2028, the number of medical cannabis patients in the UK is expected to increase by 124% to about 141,000 patients (from about 63,000 at the end of 2024).
In comparison, in Germany, the growth rate is only 24%, with about 346,000 medical cannabis patients expected by 2028 (from about 278,000 at the end of 2024).
Together, Germany and the UK will account for 77% of all medical cannabis sales and patients in Europe by 2028 (Germany 50%, UK 27%).
Although medical cannabis was legalized in the UK in November 2018 and is technically available by prescription through the National Health Service (NHS), patient access to medical cannabis in the UK is almost exclusively facilitated by private dispensaries.
These clinics are supplied by major medical cannabis distributors like Curaleaf Laboratories. Jonathan Hodgson, CEO of Curaleaf Laboratories, stated about the growth in sales and patient population in the UK: “The beginning of 2024 has already shown a tremendous level of growth, with a record number of British private dispensaries now providing medical cannabis treatment at lower consultation costs than ever before. More formulations and dosage forms have appeared on the market, such as lozenges and liquid vaporization cartridges, expanding the treatment options that specialists can prescribe to patients.”
These findings on medical cannabis were published in a new report – The European Cannabis Report: 9th Edition – by Prohibition Partners. A version of the report can be downloaded for free on the Prohibition Partners website.
Prohibition Partners is a data, media, and technology company operating in the legal cannabis industry and is based in the UK. It provides the industry with specialized information and data analytics.
For any additional comments, more information about the report, or data visualization, please contact Mike Hoban – michael@prohibitionpartners.com.
—
(Featured image by MART PRODUCTION via Pexels)
DISCLAIMER: This article was written by a third-party contributor and does not reflect the opinion of Hemp.im, its management, staff, or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the company may believe that its expectations are based on reasonable assumptions, the actual results that the company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Newsweed, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Berlin is launching a pilot project in the Friedrichshain-Kreuzberg and Neukölln districts to study the…
The Czech Constitutional Court overturned a previous ruling accusing Robert Veverka, former editor of Legalizace,…
U.N. High Commissioner for Human Rights Volker Türk has declared the war on drugs a…
Pennsylvania lawmakers have proposed a plan to legalize recreational cannabis by 2025. Projections estimate up…
The DEA just held its first procedural hearing on cannabis reclassification, although the focus was…
The Superior Court of Justice in Brazil has legalized the cultivation, processing, and sale of…