When asked about the most important conclusions from this year’s report, Pascual immediately points at the sales figures. “On a macro level, the main take away is that sales of medical cannabis in Europe continued growing rapidly in 2019, especially thanks to German patients. Italy, which is the second-largest European market, also had double-digit growth over 2018. However, the other side of the coin is that all other European markets remain quite small in comparison.
Another conclusion is that the unstoppable exponential growth of the European markets that many companies often project in their investors’ decks isn’t necessarily based in reality. There are plenty of examples in Europe of markets where for different reasons, sales don’t always follow the exponential growth trend, like Czech Republic from 2015 until 2018, the Netherlands since 2016 or Denmark throughout 2019.
There are also more specific insights readers can find. For instance, that isolated cannabinoids represent a large portion of sales in Germany, Switzerland and Denmark, and the vast majority of sales in Austria where flower or full-spectrum extracts are not allowed. This is often overlooked.”