Prohibition Partners reports….. New data just released from the National Association of Statutory Health Insurance Funds (GKV) shows continued year on year growth of the German medicinal cannabis market, despite signs that growth may have slowed down in the last few months. However, cannabis flower now makes up less than half of total sales, as sales of full-spectrum extracts and magistral preparations with Dronabinol increase.
The GKV, whose members cover the public insurance of 90% of the population, has just released its data on the number and type of cannabis medication sales for Q2 of 2020. As we reported earlier, the market saw a bumper sales month in March, likely owing to stock-piling efforts in the face of the COVID-19 lockdown. Following this, we now see a return to pre-COVID-19 levels of sales, with overall sales 40% higher than H1 of 2019.
The likely reasons for growth include the increasing numbers of doctors and patients willing to leverage cannabinoid medications for a range of conditions, including pain and multiple sclerosis. This trend is likely to continue into the near future as more patients become educated on the benefits of cannabis medications and as their use becomes further normalised. On top of this, medical practitioners can rely on an increasingly secure supply of medications as well as a more established consensus on the medical benefits of cannabinoids.