The price of medical cannabis drops by 50% in Germany

The German medical cannabis market has undergone major changes since the cannabis law came into force (CanG) on April 1, 2024. This legislation, which reclassified cannabis as non-narcotic, has led to many changes in the market dynamics and accessibility of medical cannabis.

Bloomwell Group, a medical cannabis company based in Frankfurt, Germany, has published a report on the state of the medical cannabis flower market in Germany since the implementation of the CanG.

Lower prices and greater accessibility

One of the most notable impacts of the CanG was the reduction in the cost of medical cannabis. Initially, prices for medical cannabis flower rose slightly following the reclassification, but quickly stabilized and then fell significantly by June 2024. Patients are now paying around half of what they were at the start of 2023.

The Bloomwell Group report reveals that over 50% of prescribed medical cannabis flower is now classified as «cheap» or «very cheap», with the average price per gram falling below 9 euros. Some strains that cost 10 euros per gram in early 2023 are now available for just 5 euros per gram.

The diversity of cannabis varieties available to patients has also increased. In June 2024 alone, pharmacies distributed 237 different varieties of medical cannabis flowers via the Bloomwell digital platform, Europe's largest centralized platform connecting patients to doctors and pharmacies. This vast selection enables patients and doctors to find the varieties best suited to individual medical needs, improving the overall effectiveness of treatment.

The steady supply of medical cannabis was ensured by imports from over 20 countries, mainly Canada. This steady influx was crucial in responding to the dramatic rise in the number of new medical cannabis patients after April 1, 2024. Bloomwell Group data show a 400 % increase in prescriptions between March 2024 and June 2024.

In Germany, patients and doctors can choose between irradiated cannabis flowers (treated to eliminate potential microbial contaminants) and non-irradiated cannabis flowers. A slight majority of patients prefer non-irradiated flowers. Since the beginning of the year, the ratio between irradiated and non-irradiated flowers has remained relatively balanced, allowing the various patient preferences to be catered for.

Medical cannabis flowers prescribed in Germany have an average THC content of just over 20%.

A broader European context

The reclassification of medical cannabis and the ensuing market evolution have made Germany a potential leader in the global medical cannabis industry.

Niklas Kouparanis, CEO and co-founder of the Bloomwell Group, predicts that Germany will become the the world's leading medical cannabis market. This optimistic outlook is underpinned by the growing number of patients, the wide variety of varieties available and the significant reduction in costs.

Dr Julian Wichmann, co-founder of the Bloomwell Group, highlights the mainstream acceptance of medical cannabis, noting its effectiveness in treating common ailments such as sleep disorders and migraines. Since its approval in 2017, medical cannabis has proven useful for relieving symptoms with little or no side effects. The reclassification and increased availability of medical cannabis make it a more viable and less stigmatized treatment option for millions of patients.

While Germany is undergoing a period of transformation in its medical cannabis market, the wider European context remains complex. Visit cannabis remains the most commonly used illicit drug in Europe, with some 22.8 million adults having used cannabis in the past year. The diversity of cannabis-based products, including edibles and concentrates, complicates the assessment of potential harmful effects and underlines the need for ongoing research and regulatory attention.