The Growth of Medical Marijuana in Australia spells good news for patients With the current levels of interest in the growth potential for the medical marijuana industry, the biggest beneficiaries are of course patients. Impact of COVID-19 The medical marijuana industry is one of the few that remains largely unshaken by the current pandemic. Affordability and bureaucratic hurdles are the biggest challenges faced by consumers in legal access to medical marijuana in Australia. Price wars on products At present, monthly user rates for medical marijuana in Australia is growing at an average of 8%. Medical marijuana was rescheduled for therapeutic use in Australia in 2016 and since then, the industry has seen triple-digit growth.
Medical marijuana was rescheduled for therapeutic use in Australia in 2016 and since then, the industry has seen triple-digit growth. It is now projected to be the biggest growth market for medical marijuana in the world with many international investors lining up to be part of the process.
New legislation passed by the Senate earlier this month improved access to global markets for local producers of hemp and medicinal cannabis. But it is an upcoming proposal that has exciting prospects for internal growth and consumer accessibility. This proposal, expected to be made effective in February next year, could see the reclassification of Cannabidiol...
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