Issue 1

05.07.2017

Regulations & Politics

Market Focus

The European Cannabis Blog

GERMANY LEADS THE EUROPEAN MEDICAL CANNABIS MARKET

January 19th, 2017 saw a major development in Germany’s relationship with cannabis. German parliament unanimously voted to make it legal for doctors to prescribe cannabis-based treatments for ‘seriously ill’ patients.

 

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The European Cannabis Report

Europe’s cannabis market is a green field environment for entrepreneurs and investors alike. Currently, the global charge is being led by North America. The size of the legal market in the U.S reached $7bn in 2016 and is predicted to grow to over $50bn within the next 10 years.

Europe’s recreational cannabis economy (although mostly illegal at this point) has an estimated value of €18bn. Taking is figure into consideration – and using the success of the current Canadian market as a pre-cursor – it’s not unreasonable to predict that a legal cannabis market in Europe would be one of the fastest-growing and most lucrative economies in the world.