Market Expectation for the European Medical Industry
Sales of legal medical cannabis in Europe totaled $377.7 million in 2021 compared to the US legal market which was worth $15 billion. Whilst it is clear that the EMEA market is growing, it still requires significant uptake in adoption and regulation for the market to reach the heights of its American counterparts.
The EMEA market has a lot of opportunity but that opportunity does not come without its fair share of challenges. This discussion will delve into some of those challenges which include the fragmented medical market, the cultural dissonance and stigma that exists in recreational vs medical use, and the regulations and requirements set out by individual countries.
In the midst of an economic downturn, high inflation, and increased geopolitical uncertainty in Europe, cannabis looks like a great place to diversify. Germany is becoming a key player as it continues to push for adult-use regulation. This is highly symbolic and it is creating a lot of market opportunity, as the leader in the European Union, in terms of the size of the economy, you're going to see this echo and reverberate in other countries. The pressure is on for other countries in Europe to grow with the market potential and this presentation will provide insights on how to join the green wave of adoption.