Sales of medical cannabis in the UK are greater than expected, with ‘unusually high’ consumption per patient.

The UK is the primary driver of new growth in Europe’s medical cannabis market.

A new report from Prohibition Partners, a UK-based cannabis data and intelligence company, has the details:

• Over 60,000 UK-based patients are expected to be using medical cannabis by the end of 2024. with the average patient consuming £272 worth per month. 
• Germany currently has the largest medical cannabis market and patient numbers in Europe.  Average consumption there is £112 per month and numbers are lower again in Italy and Poland. 
• Average prices of dried medical cannabis flower or oil are lower in the UK than in Germany making the difference in spend even more staggering.

Medical cannabis was legalised in the UK in November 2018.  It is technically available on prescription through the National Health Service (NHS), but medical cannabis in the UK is almost exclusively facilitated by private clinics.  This partly accounts for the higher usage levels in the UK, as Lawrence Purkiss, Senior Analyst at Prohibition Partners explains: “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. The financial incentives within the system are geared towards high prescription volumes, unlike in Germany where at least 50% of patients have their medical cannabis costs reimbursed under public healthcare.”

CEO and co-founder of Prohibition Partners, Stephen Murphy, added: “The findings in the 9th Edition of The European Cannabis Report highlight an intriguing trend: patients in the UK are consuming more than their counterparts in other European markets. Since the legalisation of medical cannabis in 2018, private companies have aimed to enhance options and accessibility for patients. However, due to supply chain restrictions and costs, patients often opt for volume over frequency. This underscores the need for continued efforts to streamline regulations and improve affordability to ensure patients’ needs are adequately met.”

UK getting higher and higher.

• The report predicts that the number of medical cannabis patients in the UK will soar over the next 4 years. 
• It's expected that there will be 141,000 patients by 2028, an increase of 124% from the already high numbers in 2024.  
• In Germany the expected growth rate is just 24%, although their decriminalization of recreational cannabis is probably affecting these figures. 
• By 2028, it's expected that 77% of all medical cannabis sales in Europe will be in Germany (50%) and the UK (27%).

The private clinics in the UK are supplied by large medical cannabis distributors like Curaleaf Laboratories. Jonathan Hodgson, CEO of Curaleaf Laboratories, reports: “The beginning of 2024 has already shown a tremendous level of growth, with a record number of UK private clinics now providing medical cannabis treatment for lower appointment costs than ever before. More formulations and dosage forms have entered the market, such as pastilles and liquid vape cartridges, broadening the treatment options available for specialists to prescribe for patients.”

A version of The European Cannabis Report: 9th Edition is now available to download for free via the Prohibition Partners website.

Article sourced from: https://businessofcannabis.com/uks-medical-cannabis-boom-patients-demand-and-consumption-surge-to-all-time-highs-with-a-record-number-of-private-clinics/

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