Facts

Medical Cannabis In Europe

The European cannabis market will be worth €403.4 million by the end of 2021 and will grow at a compound annual growth rate (CAGR) of 67.4% from 2021 to reach €3.2 billion by 2025.

  • The EU medical markets are growing at rapid pace – and price levels are significantly higher than in other markets
  • More and more countries introduce regulatory frameworks to allow medical cannabis and different product formats (flowers, extracts, dronabinol, …) – often times the costs are covered by health insurance
  • In addition, the opening of recreational markets has been initiated in some smaller countries (e.g., Luxemburg but also Spain) and it is expected that the larger countries (e.g., Germany) will follow soon – there is a robust majority in most countries pushing for legalization

Projected growth of European cannabis market

Sales in Millions of USD

CAGR

56%

Projected sales of medical cannabis in Europe

Sales in Millions of USD

Germany

major market segments

  • In general, the European medical cannabis markets may be divided into four distinct segments: dried flowers, extracts, dronabinol, and finished products
  • Some countries have already implemented a regulatory framework that allows doctors to prescribe products from each segment (e.g., Germany) – other only allow some segments or specific prodicts (e.g., Austria)
  • In principle, dried flowers tends to be the dominating segments (>40%) in all European medical cannabis markets – but also in the rather mature ones in the US and Canada
Dried Flower
Dronabinol
Sativex
Extracts

Germany

Dried Flowers

Quantity of dried flower imported to Germany

(in kg)