The UK is poised to become Europe’s second largest medical cannabis market, according to a new report, with a boost in patient numbers expected by the end of 2023.
Industry analysts have predicted that 2023 will see a significant increase in the number of patients accessing medicinal cannabis legally in the UK.
According to a new report by Prohibition Partners, the country is set to become the second largest European market by the end of year, as patient numbers and demand continue to grow.
In estimates seen by Cannabis Health, analysts predict that patient numbers will hit over 47,000 by the end of the year.
While there is no official data on the exact number of patients currently prescribed cannabis in the UK, experts believe the figure to be around 25,000-30,000, with more than 20 clinics prescribing the treatment privately.
According to figures released by NHS Business Service Authority (NHSBSA) in January 2023, a total of 89,239 prescriptions for unlicensed cannabis medicines were issued between November 2018- July 2022, fewer than five of which were through the NHS.
Further data, provided to Prohibition Partners following an FOI request, detailing the number of unlicensed medical cannabis items being prescribed in England, shows a huge increase year-on-year since 2019.
Based on these figures, analysts calculate that the annual number of products prescribed during 2022 amounts to around 76,600, a 90% increase from the year before.
The report, which examines the outlook of the European medical cannabis industry, says demand continues to rise across the continent with sales projected to reach over €550 million by the end of 2023.
It identifies the UK and Germany as the two countries representing the ‘overwhelming majority’ of demand and expected to receive the majority of the new supply.
Is Germany heading towards an oversupply of products?
Germany still remains well ahead of the UK, with patient numbers predicted to reach over 230,000 this year.
Despite these rising patient numbers, data on medical cannabis imports from the German Federal Institute for Drugs and Medical Devices (BfArM), suggests that the country could be facing an ‘oversupply’ of products.
Though some imports are re-exported to other countries, demand for imports in the rest of Europe is not sufficient to account for the gap between imports and sales to pharmacies in Germany.
While doctors and patients are reported to have a ‘diverse range’ of products available to them, ‘inconsistency in labelling’ and ‘confusion’ among doctors when prescribing is ‘exacerbated by an overwhelming array’ of different products, the authors say.
Reports from 2022 have also indicated that many products do not make it to patients before their expiration date.
UK supply remains ‘inconsistent’
Meanwhile in the UK, product supply remains ‘inconsistent’, according to the report.
The authors use the database, MedbudWiki, which aims to track the availability of products in real-time, to form a picture of the current supply. Out of 202 total products, only 88 were listed as available at the time data was collected.
The report puts this inconsistency partly down to the ‘bureaucracy’ involved in the importation process, which requires prescribing doctors to write a letter of ‘anticipated demand’ in order for products to be imported in bulk.
In the letter, which is estimated to cost around £1,000 in time and administration fees (and can only be used once), the doctor must state a requirement for specific quantities of named products for their prescription purposes.
The report also examines the current cost of products in the UK. Price is crucial for UK patients, with limited access on the NHS and the majority having to fund the treatment privately.
As market demand and competition increases, the average price of products is slowly coming down.
According to the report, price per millilitre of oil (extract) fell between €2 (£1.76) and €12 per millilitre (£10.56), while flowers were in the range of €6 (£5.28) to €14 (£12.32) per gram, with most products costing between €8.40 (£7.39) and €9.60 (£8.45) per gram.
Read more and download the report here
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