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The reasons why the medical cannabis market in Australia will grow to $ 1.5 billion by 2025.

16.04.2020

A significant increase in the hemp market is the expected result of regulatory changes that have entered into force in the “ kangaroo and koala country ” in recent years. Based on the legislative support of a rapidly developing market , analysts make forecasts according to which Australia’s hemp market will overcome the $ 1.5 billion barrier by 2025, making it the largest legal cannabis market in Oceania .

The pages of the profile electronic publication of Ukrainian hemp breeders have repeatedly emphasized the attention of our readers to the fact that governments of economically developed countries cannot afford to thoughtlessly amend the regulatory framework that regulates the possibilities for using the therapeutic properties of hemp plants for medical use . EU countries in which patients use the plant as widely as possible for medical purposes either support national producers of hemp raw materials ( Netherlands , Italy ), orcreate conditions under which local hemp growers , for example in Germany , will be able to compete with the market leaders for medical hemp from America ( Canada ) or Asia ( China , Israel ). Australian government officials act on a similar principle , who not only provide the ability to use the therapeutic properties of hemp for medical purposes on the territory of the “ continent country ” to patients who need it , but also create conditions under which Australian hemp growers legally grow the required volumes of hemp raw materials rich beznarkoticheskimi cannabinoids , and above all pharmaceutical companies it is " the country of kangaroos and koala " will be out of it Manuf inject drugs . Especially significant is the fact that government officials are not in words but in deeds create conditions for increasing the export potential of the Australian pharmaceutical products , made on the basis of the therapeutic properties of cannabis .

Forecasts of analytical and consulting companies , specializing in the study of the dynamics of the Australian hemp market are unanimous that in the medium term will be observed not only by its rapid growth , but also a shift towards the use of the therapeutic properties of cannabis plants . Experts unanimously claim a significant increase in the market component related to the use of plants for medical purposes . If at the moment the volume of this market segment is estimated at $ 40 million, then by next year this figure will increase to $ 170 million, and in 2023 will reach $ 1 billion. What was the incentive for such a rapid development of Australian hemp breeding and what conclusions from the experience of our colleagues from the “ green continent ” can Ukrainian businessmen draw .

Australia Medical Cannabis Market Growth

 Historical retrospective

Technical hemp was one of the first areas of modern hemp breeding , which was legalized in Australia , in the light of its wide potential for use in various groups of goods - from textiles and products for the zoo business to food and cosmetics . Some Australian territories legalized the possibility of cultivating and processing industrial hemp industrial crops back in 1998, while most provinces took up this trend only a decade later.

2016 was a turning point for the hemp market in Australia . Earlier this year, the Parliament of the country regulated the ability to use the therapeutic properties of cannabis in medical purposes , and by the end of 2016 was possible to use pharmaceutical preparations , made on the basis of the therapeutic properties of cannabis .

The reasons for the impetus to the rapid growth of the market

However, it was precisely the year 2019 that became significant for significant changes in the situation on the hemp market of the “ fifth continent ”. In early 2019, the Government abolished the regulations , prohibiting the export of leaves and inflorescences of medical cannabis , as well as pharmaceuticals , are produced on the basis of the therapeutic properties of plants (patches, sprays, tablets and drugs, etc.) and in August 2019 the state officials for the first time announced their intention to provide comprehensive support for the development of national projects aimed at developing the sector associated with the use of therapeutic properties of hemp in medicine other purposes . I would especially like to emphasize that since August 2019, six large industrial associations have already been registered in the country , implementing individual initiatives in the field of hemp for medical purposes , which officially received the status of a “main project ” in Australian government documents .

Commentary experts of the Association "Ukrainian industrial hemp"

Currently, Australian hemp products can be divided into four main categories: 

goods from industrial hemp ( food , cosmetics , pet supplies , etc. );

products, which include drug-free cannabinoids ( food , cosmetics , pet supplies , etc. );

biologically active and feed additives , the formulation of which includes drug-free cannabinoids ;

- drugs made on the basis of the therapeutic properties of hemp .

A significant increase in the hemp market is the expected result of regulatory changes that have entered into force in the “ kangaroo and koala country ” in recent years. Based on the legislative support of a rapidly developing market , analysts make forecasts according to which Australia’s hemp market will overcome the $ 1.5 billion barrier by 2025, making it the largest legal cannabis market in Oceania .

Обучение в рамках "Конопляного Университета"
15.09.2020

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