The illegal cannabis market in Britain, estimated at £2.6 billion annually, poses a significant challenge for authorities amidst growing interest in its use for pain relief.
Despite being classified as a class-B illegal substance, the Institute of Economic Affairs’ market estimate reveals a substantial black market.
Every year, around three million people in Britain engage with this illegal market, with 600,000 using it for self-treatment, as per Mamedica’s medical clinic reports.
Pharmaceutical companies are increasingly recognizing the potential of cannabis in treating health conditions resistant to conventional drugs, Mamedica’s analysis shows.
According to recent findings cited by Mamedica, nearly eight million chronic pain sufferers in the UK have not found relief after trying up to three different medications, fueling interest in medicinal cannabis.
The global market for medical cannabis stands at $13 billion and is projected to soar to over $57 billion by 2028.
Mamedica points out that despite the recognized therapeutic benefits of cannabis, limitations within the UK’s public health services restrict general practitioners, 73% of whom are willing to prescribe cannabis, from doing so.
Jon Robson, Mamedica’s chief executive, argues that increasing awareness and access to legal, regulated medical cannabis is vital for moving consumers away from the black market, indicating potential growth in this area.
Since the legalization of medical cannabis in the UK in 2018, progress has been slow, with only 1,000 patients getting licensed prescriptions compared to 20,000 via private channels.
Robson highlights the importance of customer experience in the growth of the medical cannabis industry, emphasizing challenges in quality, cost, service, and supply chain.
He summarizes, “The complex landscape of cannabis in the UK shows a tension between traditional legal constraints and evolving views on its medical benefits, alongside the need for better accessibility and understanding of cannabis-based treatments.”
