The Germany Cannabis Report

In March 2017, Germany officially legalised medical cannabis, marking a major milestone in the newly emerging European cannabis market. Boasting the largest economy in Europe, with a GDP of nearly USD$4 trillion and a total healthcare expenditure of over USD$400 billion, the reform was both a signal of intent and a sign of the times, as attitudes to cannabis began to shift across Europe. In the wake of legalisation, the state accept-ed around 1,000 applications for medical cannabis. However, by March 2018, the number of applications had risen to 13,000, with over 60% of requests for reimbursement being approved. By the end of the year, that figure had risen to an estimated 60,000. The German market has no doubt grown at a rate that is unprecedented in Europe, which sent shockwaves throughout other European states. In fact, many analysts and industry experts predicted that regional neighbours were likely to follow in their footsteps, experiencing similar levels of growth. Major change has followed across the continent but Germany remains one of the most open, promising and exciting markets in the region. The development of the German industry is not without its pitfalls. Patients still face hurdles in accessing cannabis -products and companies are still vying to supply the market. Production licences were granted in the early part of 2019, allowing cannabis cultivators to produce do-mestic cannabis to supply the regional market and opening up the commercial market further. Germany is emerging as a regional industry leader as investors and operators competefor a foothold in the burgeoning European market; data, insights and intelligence are vi-tal components to help advance the cannabis industry. All of which will be presented at The Institutional Capital & Cannabis Conference on the 24th of February 2020, in Frankfurt, which we would like to invite you to.