How can Australia take on the world’s cannabis market? Will we lead or follow when it comes to medicinal marijuana products?
Since Australia’s legalisation of Medical Cannabis in 2016. We have created over 25 medicinal cannabis companies that produce CBD and THC oil. South Korea, Thailand, Europe and other countries buy Australian medicinal cannabis.
In 2019, Australian Cannabis product choices had a 40% increase that is creating more competitive prices for medical patients. The average daily spending is between $11 to $14 a day for Cannabis patients.
Australia is not one to back down from a business opportunity that has the international marketing giddy with excitement. As each year a new country is legalising the medicinal use of Cannabis in their country, Australian companies are scaling up using three phases:
Phase 1) Acquire licensing and setting up local Australian commercial Cannabis facilities
Phase 2) Produce and deliver medical-grade Cannabis products to Australian pharmacies
Research shows that around 250,000 Australian patients are waiting to gain access to medical Marijuana. Initially, Cannabis is being used for more severe illnesses, but in the near-future, CBD and THC oils will be used to treat a wide range of ailments and diseases.
#Australia’s medical cannabis market could surpass 15,000 patient application approvals by the end of this year, with industry revenues totaling roughly 36 million Australian dollars ($25 million). https://t.co/tAbnaot6TR
The Australian Cannabis market is poised to reach $2 billion by 2025 and have an industry value of $55 billion. But the real green gold mine lays in Asia’s untapped market as each country slowly legalises the medical use of Cannabis.
THC Global - A Great Cannabis Example
Companies like THC Global (ASX: THC) has been planning to take on the international Cannabis market with locally grown Australian Cannabis for years.
The main hurdles for Australian Cannabis companies in the medicinal Marijuana industry are licensing, regulatory approvals, the development of the facility and importing talent with the “know-how” that Australia is missing.
TGA GMP Manufacturing Licence granted for Southport Facility. @THCLtdAus now have complete pathway to revenue from medicinal cannabis medicines production in 2020. Internationally recognised GMP Licence authorises manufacture, packaging & laboratory testing of medicinal cannabis pic.twitter.com/nnENnE9uDj
THC Global is proud to say that have completed their first batch of “farm to pharmacy” medicinal Marijuana products — coming in with competitive pricing and premium-grade locally grown Australian Cannabis.
Australian medicinal Cannabis companies like THC Global are aiming to service the global market and turn Australia into more than a premium wine and mineral exporter.
“THC Global has ready-to-go production assets within Australia capable of servicing over 250,000 patients in addition to the global export market, making THC Global a leader in the Australian medicinal cannabis industry, and in prime position to be a global exporter of Australian medicinal cannabis medicines,” said Ken Charteris, chief executive officer of THC Global.
Disclaimer: Cannabis Place may contain information regarding cannabis & other drugs; it is designed for 18+ audiences in regions where cannabis has been decriminalised. This topic may represent illegal activity in certain regions. We do not encourage illegal activity. We understand that readers in locations where cannabis has been legalised may read these articles. Medical Cannabis in Australia is regulated by the Therapeutic Goods Administration and details about Cannabis as a scheduled drug can be found on their website. Please consult with your doctor to find out if Cannabis is right for you. Click here for our full disclaimer