European medical marijuana sales are predicted to grow 19.0% from $3,414.26 million in 2022 to $9,703.38 million in 2028.
The European medical marijuana market grows after legalization in Germany, France, and the UK
The legalization of medical marijuana in Europe is fueling this trend. The UK, France, and Germany are the cannabis therapy pioneers. France is conducting a trial program, Germany has a well-established medical marijuana market, and the UK has tightened patient access laws. These initiatives demonstrate how medical marijuana use is evolving in the EU.
Germany, the UK, France, Italy, Spain, and the Rest make up the European medical marijuana market. Germany now has the largest market share, and it is expected to grow as a result of local funding for life science research.
Two types of extracts dominate the market: dry and extract. The use of extracts is growing in popularity. The market is dominated by pain management, which addresses Tourette’s syndrome, Alzheimer’s disease, cancer, and other ailments.
Retail Pharmacies Take the Lead as Europe’s Medical Cannabis Market Booms
Distribution networks are dominated by retail pharmacies. E-commerce is followed by other channels. In Europe, Germany leads the medical marijuana market.
The companies driving the market growth include Aphria, Inc., Canopy Growth Corporation, GW Pharmaceuticals, Panaxia Pharmaceutical Industries Ltd., and VIVO Cannabis Inc. Their initiatives validate the market’s potential and draw attention to the ongoing advancements and investments in medicinal marijuana.
The comprehensive analysis clarifies market dynamics, segmentation, and important companies influencing the medical marijuana industry as it develops and becomes more well-known. As more people become aware of cannabis’ medicinal benefits, the European medical marijuana market is growing and becoming more interesting.
