Green Growth: Germany’s Medical Cannabis Industry Thrives with €50.9 Million Q1 Reimbursements

<a href="" class="st_tag internal_tag " rel="tag" title="Posts tagged with Medical cannabis">Medical Cannabis</a> <a href="" class="st_tag internal_tag " rel="tag" title="Posts tagged with Expansion">Expansion</a> in <a href="" class="st_tag internal_tag " rel="tag" title="Posts tagged with Germany">Germany</a>

Medical Cannabis Expansion: Germany Sees €50.9 Million in Q1 Reimbursements

The first quarter of 2023 witnessed a significant in insurance reimbursements for medical cannabinoid products in Germany, reaffirming the continuous of Europe’s largest ’s sector – now ranking among the world’s most expansive.

The latest from the German National Association of Statutory Insurance Funds (GKV-Spitzenverband) indicates that reimbursements reached approximately €50.9 million ($55.6 million) from January to March.

Comparing this with the same period the previous year, there’s a noticeable 6.5% uptick. However, it’s important to note a slight downturn in comparison to the final quarter of 2022.

Within this timeframe, nearly 99,000 prescriptions were filled, reflecting the increasing acceptance and utilization of medical cannabis.

Breaking down the numbers, the sales attributed to the dried-flower segment amounted to €21.1 million.

Simultaneously, finished pharmaceutical products, which encompass items like Sativex and Epidolex, registered sales totaling €13.1 million.

Drawing a parallel, Canada’s regulated market reported medical cannabis sales of 98 million Canadian dollars ($72 million) during the same quarter, according to data from Statistics Canada.

However, it’s crucial to highlight that Germany’s reimbursement data excludes sales through private prescriptions, which cover out of their own pockets.

Consequently, the actual medical cannabis sales in Germany surpassed the reported €55.6 million figure, although the exact value remains indeterminate.

Malvin Felix
I'm Malvin, a cannabis news enthusiast who finds joy in staying updated about the latest industry trends. My passion led me to become a dedicated writer, entrepreneur, and investor in the cannabis space. Through my writing, I aim to educate and spark discussions, while my entrepreneurial ventures and strategic investments reflect my commitment to driving positive change in the industry.

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