UK Leads European Medical Cannabis Market with Higher Consumption Rates and Growing Patient Population
The United Kingdom is emerging as a major player in Europe’s medical cannabis market, surpassing initial projections with sales driven by “unusually high” consumption rates per patient.
According to a new report from Prohibition Partners, a UK-based cannabis data and intelligence company, the UK is expected to have 62,960 medical cannabis patients by the end of 2024, generating €240 million (£205 million) in sales. This means that the average medical cannabis patient in the UK will consume €3,811-worth (£3,261) of medical cannabis per year, or €318-worth (£272) per month.
In comparison, Germany, which currently has the largest medical cannabis market and patient population in Europe, is expected to have an average medical cannabis patient consuming €1,563 (£1,342) of medical cannabis per year, or €130 (£112) per month.
The report also highlights that the average prices paid for medical cannabis in the UK are lower than in Germany, making consumption volumes the primary factor in the significant 144% difference in spend between the two countries.
Lawrence Purkiss, Senior Analyst at Prohibition Partners, explains that this high consumption rate in the UK is likely due to the fact that the market is entirely private and self-paid. He adds that unlike in Germany, where at least 50% of patients have their medical cannabis costs reimbursed under public healthcare, the financial incentives in the UK’s private system encourage high prescription volumes.
Stephen Murphy, co-founder and CEO of Prohibition Partners, notes that the findings in the report highlight a concerning trend: patients in the UK are consuming more than their counterparts in other European countries. He stresses the need for continued efforts to streamline regulations and improve affordability to ensure patients’ needs are met.
The report also predicts a significant growth in the total number of medical cannabis patients in the UK, with an expected increase of 124% by 2028. This will bring the total number of patients to approximately 141,000, compared to Germany’s anticipated 346,000 patients by the same year. Together, Germany and the UK are projected to account for 77% of all medical cannabis sales and patients in Europe by 2028, with Germany taking up 50% and the UK, 27%.
The growth in the UK’s medical cannabis market is largely driven by private clinics, as patient access to medical cannabis is almost exclusively facilitated by these clinics. They are supplied by large medical cannabis distributors such as Curaleaf Laboratories. Jonathan Hodgson, CEO of Curaleaf Laboratories, says that the beginning of 2024 has already seen a significant level of growth, with a record number of UK private clinics now providing medical cannabis treatment at lower costs. He adds that the availability of more formulations and dosage forms, such as pastilles and liquid vape cartridges, has broadened the treatment options available for specialists to prescribe for patients.
The report, titled “The European Cannabis Report: 9th Edition,” is now available for free download on the Prohibition Partners website. Prohibition Partners is a data, media, and technology company focused on the fast-growing legal cannabis industry. For more information, please contact Mike Hoban at michael@prohibitionpartners.com.
