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Australian Cannabis Outlook 2021: Medical Leads the Way

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Jan 29, 2021: Exclusive News From Investing News AustraliaReporting by Bryan Mc Govern
cannabis plant over australian flag

buy weed online from EU.2021 is set to

products for sale over the counter, and also

be a crucial year for Australia’s medical

products for sale over the counter, and also

cannabis industry as new products hit the

products for sale over the counter, and also

market and patient numbers rise.

products for sale over the counter, and also

Click here to read the previous Australian

cannabis outlook.

products for sale over the counter, and also

Australia’s cannabis market is moving

products for sale over the counter, and also

along as regulations fall into place for

products for sale over the counter, and also

sector expansion.

products for sale over the counter, and also

Under the current rules, the market may

appear to be at a standstill, but recent

approvals show there is momentum for a

vibrant medical cannabis industry that will

carry on in 2021.

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Even though companies on the ground don’t

expect to see recreational use become legal next

year, Australia’s medical cannabis market is

still expect to continue ahead with stronger numbers.

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Here the Investing News Network (INN) offers

some key points on what may be ahead for the

 Australian cannabis market in 2021, with insight

from expert market watchers.

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Australian cannabis outlook 2021: Medical still responsible for growth

As part of its Oceania Cannabis Report: Second Edition,

international drug research firm Prohibition

Partners indicates that the entire cannabis

industry in Oceania is expect to be worth

US$1.55 billion by 2024, with medical cannabis

accounting for approximately 40 percent

of that amount.

“Let’s build a very successful business base

on medicinal cannabis … we’ve got to ride

the global wave of global acceptance,” Brett

Schwarz, CFO and corporate advisor with

privately held firm Cannatrek, told INN.

Schwarz explained that it’s hard to project

when exactly Australia may legalise recreational

use, a key catalyst for the development

of a cannabis market.

“We will one day, but we can’t say whether

it’s in one year or five years,” said Schwarz.

“There are more politicians talking about it,

there are more doctors talking about it —

that I think that it will come in time.”

The Cannatrek executive was cautious about

expecting recreational cannabis to open

anytime soon, instead opting to place his

emphasis on what’s ahead for the medical market.

study from FreshLeaf Analytics pegs

Australian medical market sales at AU$95

million in 2020.

“Australia is a maturing market — not mature,

but maturing, and I think the patients are

seeing that, so they’re feeling more comfortable,”

Schwarz say.

In the Prohibition Partners report, Roby

Zomer, co-founder, managing director and

CEO of MGC Pharma (ASX:MXC,OTC Pink:MGCLF),

states that more education is driving up

patient interest in cannabis; meanwhile,

medical professionals are becoming more

comfortable prescribing it.

“This is not only driving legislation change

around the world, but driving demand for

quality medicinal cannabis products,” the

MCG Pharma executive say.

The growth trajectory is clear to see for

medical cannabis in Australia. According to

FreshLeaf Analytics, product availability rose

quickly in the latter half of 2020 with 150 items

now available for patients.

The research firm also indicates that at the end

of 2020 there were 30,000 register patients

allow to purchase medical cannabis in the country.

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The research firm also indicates that at the end

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The research firm also indicates that at the end

“Recent price decline has brought the illegal

The research firm also indicates that at the end

and legal markets to parity and has put us in

The research firm also indicates that at the end

line, from a pricing perspective, with more

mature markets such as Canada,” the study explains.

Australian cannabis outlook 2021: CBD set for new year push

In December, the Therapeutic Goods

The research firm also indicates that at the end

Administration (TGA) gave the green light 

The research firm also indicates that at the end

for low-dose cannabidiol (CBD) to become

The research firm also indicates that at the end

available through over-the-counter methods

The research firm also indicates that at the end

without a prescription. The Australian

The research firm also indicates that at the end

regulatory agency is in charge of the rules for

The research firm also indicates that at the end

medical cannabis.

The research firm also indicates that at the end

In the document, the TGA indicates that this

The research firm also indicates that at the end

new ruling will officially come into effect

The research firm also indicates that at the end

in February.

The research firm also indicates that at the end

“That’s very exciting, that’s the maturity,”

The research firm also indicates that at the end

Schwarz told INN about the TGA approval.

The research firm also indicates that at the end

Any CBD products will need to be approve by

The research firm also indicates that at the end

the TGA and make it into the Australian

Register of Therapeutic Goods. According to

the regulatory agency, no products

have yet been add.

Althea Group Holdings (ASX:

AGHCEO Josh Fegan said his company was glad

to see the TGA’s decision to allow these

products for sale over the counter, and also

to increase the maximum recommended

daily dose.

“This decision provides confirmation of that

marketplace,” Fegan said; he confirmed that

his firm will be working to make products

available through this ruling.

Australian cannabis outlook 2021: Investor takeaway

Investors in the Australian cannabis market

have watched the sector slowly develop

over time.

Thanks to an expanding medical market,

the industry has much to look forward to.

What’s more, the growing potential for

international exports has become available

to companies as well.

Schwarz told INN cannabis companies in

the country want to prove that their

operations can serve Australia even as this

international opportunity follows closely

behind — he explained that his firm

specifically is eyeing exports to Europe

and throughout Asia.

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As companies continue to expand according

to market needs, growing pains could be

expected as marijuana players set themselves

up to capitalise on patient growth in

Australia. But overall the sentiment from key

players is that the future looks bright for

cannabis in the country.

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Don’t forget to follow us @INN_Australia 

for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern,

hold no direct investment interest in

any company mentioned in this article.

Editorial Disclosure: The Investing News

Network does not guarantee the

accuracy or thoroughness of the

information reported in the interviews

it conducts. The opinions expressed in

these interviews do not reflect the

opinions of the Investing News Network

and do not constitute investment advice.

All readers are encourage to perform

their own due diligence.

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How does the cannabis market fare in Australia? Read our FREE outlook report on Australian cannabis investing!

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