With rising legalisation and accessibility, the world of medical cannabis has experienced substantial change recently. The effect of easy access to medical cannabis on the black market is one significant trend that is now unfolding. In this article, we will look at the findings from the recent Flowzz report – “Inside Medical Cannabis 2023”. It provides insight on how both the affordability and accessibility of medical cannabis affect the current state of the black market.
Prices: medical cannabis recent report
The Flowzz research focuses on the biggest European market – Germany. Interestingly, it shows that the average cost of medical cannabis in Germany has notably decreased from roughly EUR 11.90 per gram in 2022 to under EUR 10.00 per gram in 2023. This large price drop has changed the medical cannabis business and has an important effect.
The report additionally gives a detailed breakdown of prices according to THC content. Below you can find the comparison of average and cheapest options.
Based on data from “Inside Medical Cannabis 2023” by Flowzz, available here: https://flowzz.com/report
The report shows that lower-THC strains are generally more affordable than high-THC options. However, in case of higher THC content, the difference between average price and cheapest option is the smallest.
What is more, the quantity of medical cannabis flowers offered at costs lower than those frequently found on the illegal market is very interesting. According to the survey, there are 176 varieties that cost less than 10 EUR, 89 that cost less than 8 EUR, 17 that cost less than 6 EUR, and 3 that cost less than 4 EUR. These figures show that there are many affordable options available to patients in the legal medical cannabis market.
Impact on the black market
According to the Flowzz report’s results, the availability of reasonably priced medical cannabis is having a substantial effect on the illegal market. The self-payer market, which now accounts for two-thirds of medical cannabis patients, is a significant element influencing this trend. Price is a key factor in these patients’ decision-making because they are responsible for paying for their therapy’s expenses.
Because medical cannabis is becoming more and more affordable, many patients have switched from the illegal to the legal medical cannabis markets. This trend is anticipated to continue. As legal alternatives grow safer and more attractive with lower pricing, there are less incentives for making illegal transactions. In addition, compared to the unpredictability of the illegal market, legal medical cannabis meets strict quality and safety regulations. Thus, legal options provide patients with a reliable and secure product. What is more, limiting illegal market has economic outcomes as well. It may have an impact on the revenue generated by the illegal cannabis trade. Thus, may lead to regulatory changes intended to stop related criminal activity as governments and regulatory bodies respond to changing market dynamics.
Medical cannabis market worth observations
The Flowzz research offers insightful information about how easy access to reasonably priced medical cannabis affects the illegal market. The trend of patients moving from the illicit market to the legal market is anticipated to grow. It is caused by the prices in the legal medical cannabis market, which continue to fall. This change has broader consequences for the cannabis industry and regulatory frameworks in addition to being advantageous to patients by giving them safer and more economical options.
As other regions manage the difficult crossing of legal and illegal cannabis markets, the changing medical cannabis scene in Germany is an important case study that offers insights and observations. It will be vital for policymakers, regulators, and industry players to constantly watch these trends as the medical cannabis market continues to expand and adapt in order to guarantee a well-regulated and secure market for patients. More insightful details about medical cannabis market in Germany are available here: https://flowzz.com/report