Medical Marijuana Imports In Germany Increase 51% YoY Following Reform, Cannabis Clubs Still Face Bureaucratic Challenges
Germany’s Federal Institute for Drugs and Medical Devices (BfArM) recently issued a report on the medial marijuana import figures for the second quarter of the year. According to the data, Germany imported 11,706 kg of dried cannabis flower into the country for medical or scientific purposes, writes Business of Cannabis.
Compared to the first quarter of the year, when 8,134 kg were imported, the second quarter figures represent a 44% increase. Furthermore, the fourth quarter of 2023 had the highest level of imports of any quarter since medical marijuana was legalized seven years ago This year’s second-quarter imports are 38% higher than those of the fourth quarter.
Since cannabis is no longer considered a narcotic, medical marijuana has become more accessible. In fact, one of the biggest breakthroughs under the law is that medical marijuana is essentially regulated like ibuprofen. Following this cannabis reform, demand for medical cannabis significantly grew. On a year-over-year basis, the import increased 51%. The number of patients also grew 400% from March to June 2024.
The German medical marijuana market is said to hold huge potential. It is projected to reach a valuation of approximately €1.7 billion ($1.86 billion) by 2025. BfArM hasn’t disclosed data on how much was sold in pharmacies though Germany has had oversupply issues previously.
According to a recent report from the medical marijuana company Bloomwell Group GmbH on Germany’s private medical marijuana market, the price of medical marijuana flower initially rose slightly following its reclassification as a non-narcotic. However, costs quickly stabilized and then dropped in June. More importantly, patients are now paying an average of half the price for …