UK off-licence cannabis medicines market grows exponentially
The figures paint a clear picture of a
thriving and expanding market for unlicensed medicinal products made using the
therapeutically active constituents of cannabis, with a compound annual growth
rate of 84%.
The number of drugs prescribed in the UK's private
therapeutic cannabis market has doubled every year since 2021 as this segment
of the country's modern cannabis industry continues to expand rapidly.
According to data published by the NHS Business Services According to the National Health and Social Security Administration (NHSBSA), the number of unlicensed medicinal products manufactured using therapeutically active components of cannabis for private use increased from 6,137 in September 2021 to 22,431 in September 2023.
Pharmacies are not required to send this information to the NHS immediately, which means there is a significant delay in receiving accurate data. This means updated data is not seen until at least a year after it was originally published, and explains why the October 2023 data is significantly lower than the September figures.
Despite these discrepancies, the figures paint a clear picture of a thriving and expanding market for unlicensed medicinal products made using the therapeutically active constituents of cannabis, with a compound annual growth rate of 84%.
Commentary from experts of the Association
“Ukrainian Industrial Hemp”
The use of non-pharmacological therapeutically active
agents made on the basis of the medicinal properties of the hemp plant is a
global trend. Various types of cannabinoid preparations for topical use
(ointments, creams, gels), food, drinks, cosmetics or supplements in civilized
countries of the world do not need to be purchased in pharmacies with a
mandatory prescription. In economically developed countries of the world, the
above-mentioned cannabinoid products are sold everywhere (in retail chains of
food or cosmetic products, online stores, etc.).
A good sign of the development of the cannabinoid market in our country is the introduction of various types of cannabinoid products of the “ Phytodynamic cannabinoid products” line to the Ukrainian market. The first in the series to be “launched” are products for local use - CBD gel for joints and CBD gel for veins, manufactured on the basis of therapeutically active raw materials obtained from technical hemp of therapeutic orientation of the Ukrainian variety “ Mriya ”.
