Pharmaceutical Cannabis - Germany

Germany is foreseen to witness a revenue of US$125.60m in the Pharmaceutical Cannabis market by 2024.
The market is anticipated to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 4.78%, leading to a market volume of US$158.60m by 2029.
When compared globally, the United States is expected to generate the highest revenue, reaching US$913.10m in 2024.
In terms of per capita figures, US$2.53k in revenue is generated per person in 2024.
Germany's evolving regulatory framework is shaping a dynamic pharmaceutical cannabis market, attracting both domestic and international players seeking strategic partnerships and market access.

Definition:
The Pharmaceutical Cannabis market encompasses products derived from the cannabis plant specifically used for medical purposes. These products may include dried flowers, oils, tinctures, capsules, and topicals. Depending on the regulations in each country or state, these products are available through medical dispensaries, pharmacies, and/or online platforms. They may be consumed in various ways such as smoking, vaporizing, ingesting, or applying topically.

Structure:
The Pharmaceutical Cannabis market encompasses formulated, processed, or synthetic cannabis sold as a finished product. These products, such as Sativex, Epidiolex, and Dronabinol, have undergone full medical trials and hold a medical marketing authorization. The market also includes cannabinoid-based API (Active Pharmaceutical Ingredient), which is registered as an API in a medicinal product with marketing authorization in one or more regions. These APIs can be manipulated and/or compounded by a magistral pharmacy to produce a cannabinoid-based medicine. The Pharmaceutical Cannabis market includes various forms of cannabis such as flowers, oils, capsules, and topicals.

Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by patients (B2C), healthcare facilities (B2B), and governments (B2G).

Cannabinoid-based medicine holding marketing authorisation containing THC
Cannabinoid-based medicine holding marketing authorisation containing CBD

Cannabinoid-based medicine not holding marketing authorisation containing THC
Cannabinoid-based medicine not holding marketing authorisation containing CBD

The Pharmaceutical Cannabis market in Germany has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Germany are increasingly turning to pharmaceutical cannabis products due to the growing acceptance of medical cannabis as a treatment option. Patients are seeking alternative and natural remedies for various medical conditions, driving the demand for pharmaceutical cannabis products.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in Germany is the increasing number of pharmaceutical companies entering the market and obtaining licenses to produce and distribute medical cannabis products. This trend is fueled by the changing regulatory landscape and the legalization of medical cannabis in the country.

Local special circumstances: Germany has a well-established healthcare system with a strong emphasis on research and development. This has created a conducive environment for pharmaceutical companies to conduct clinical trials and research on the medical benefits of cannabis. Additionally, the country's large population and high prevalence of certain medical conditions have contributed to the growing demand for pharmaceutical cannabis products.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Germany is also influenced by macroeconomic factors such as government regulations, healthcare policies, and insurance coverage. The government's support for medical cannabis research and legalization has played a significant role in shaping the market dynamics. Furthermore, the increasing awareness and acceptance of medical cannabis among healthcare professionals and patients have contributed to the market growth.

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.