The UK is the first driver of recent progress in Europe’s medical hashish market, with gross sales of medical hashish larger than anticipated resulting from ‘unusually excessive’ consumption volumes on a per-patient foundation.
By the tip of 2024, for instance, 62,960 sufferers are forecasted to be utilizing medical hashish within the UK, producing €240 million (£205 million) in gross sales, which means the typical medical hashish affected person within the UK will eat €3,811-worth (£3,261) of medical hashish per 12 months, or €318-worth (£272) per thirty days.
Evaluate this to Germany, with the biggest medical hashish market and affected person inhabitants in Europe, the place the typical medical hashish affected person will eat €1,563 (£1,342) of medical hashish per 12 months, or €130 (£112) per thirty days.
Common costs paid per gram of dried medical hashish flower or millilitre of oil are decrease within the UK than in Germany, so the first issue contributing to this staggering 144% distinction in spend is an excellent bigger divergence in consumption volumes.
These findings have been printed immediately in a brand new report from UK-based hashish information and intelligence firm, Prohibition Companions.
Why So Excessive?
Talking in regards to the potential causes for the excessive consumption charges within the UK in comparison with different European international locations, Lawrence Purkiss, Senior Analyst at Prohibition Companions, mentioned: “The comparatively excessive per-patient consumption charges within the UK are no less than partly a consequence of the truth that the market is solely personal and self-paid. The monetary incentives throughout the system are geared in direction of excessive prescription volumes, not like in Germany the place no less than 50% of sufferers have their medical hashish prices reimbursed below public healthcare.”
Stephen Murphy, co-founder and CEO of Prohibition Companions, added: “The findings within the ninth Version of The European Hashish Report spotlight an intriguing development: sufferers within the UK are consuming greater than their counterparts in different European markets. Because the legalisation of medical hashish in 2018, personal firms have aimed to reinforce choices and accessibility for sufferers. Nevertheless, resulting from provide chain restrictions and prices, sufferers usually go for quantity over frequency. This underscores the necessity for continued efforts to streamline rules and enhance affordability to make sure sufferers’ wants are adequately met.”
UK Market & Affected person Explosion
Development within the complete variety of medical hashish sufferers within the UK can also be forecast to soar over the subsequent 4 years. By 2028, the variety of medical hashish sufferers within the UK is predicted to extend by 124% to roughly 141,000 sufferers (up from approx. 63,000 by the tip of 2024).
By comparability, in Germany the expansion price is simply 24%, with roughly 346,000 medical hashish sufferers anticipated by 2028 (up from approx. 278,000 by the tip of 2024).
Collectively, Germany and the UK will account for 77% of all medical hashish gross sales and sufferers in Europe by 2028 (Germany 50%, UK 27%).
Non-public Clinics Driving Development
Though medical hashish was legalised within the UK in November 2018 and is technically accessible on prescription by the Nationwide Well being Service (NHS), affected person entry to medical hashish within the UK is sort of completely facilitated by personal clinics.
These clinics are provided by giant medical hashish distributors like Curaleaf Laboratories. Of the expansion in gross sales and affected person inhabitants within the UK, Jonathan Hodgson, CEO of Curaleaf Laboratories, mentioned: “The start of 2024 has already proven an amazing stage of progress, with a report variety of UK personal clinics now offering medical hashish remedy for decrease appointment prices than ever earlier than. Extra formulations and dosage types have entered the market, corresponding to pastilles and liquid vape cartridges, broadening the remedy choices accessible for specialists to prescribe for sufferers.”
These medical hashish findings have been printed immediately in a brand new report – The European Hashish Report: ninth Version – by UK-based hashish information and intelligence agency, Prohibition Companions. A model of the report is now accessible to obtain without spending a dime by way of the Prohibition Companions web site.
ABOUT PROHIBITION PARTNERS
Prohibition Companions is an information, media and tech firm working within the fast-growing authorized hashish business. We offer the business with specialist info and information analytics.
For extra remark, extra details about the report or visualisations of knowledge, please contact Mike Hoban – michael@prohibitionpartners.com
