Freshleaf Analytics, an Australian medicinal cannabis data and research company, has published a Patient, Product & Pricing Report of the Australian market.
The report was conducted during the first quarter of 2019, and provides industry insights on patient numbers, dosing, cost of products and consumption rates.
Key stats from the report include:
- Products in market increase substantially, up over 500% year on year
- Pricing continues to fall, but CBD has hit a floor
- Patient monthly spend up 11.5%, driven by increased dosages
- 15,000-20,000 new patients to enter the market in 2019
Average price per milligram of cannabinoids has dropped 26% over the last six months to $0.26/mg, with cheapest prices in the mid-teens.
Dr Sanjay Nijhawan, Medical Director of Cannabis Access Clinics said, “We see more and more patients come through our clinics and in many cases see benefits from medicinal cannabis as an adjunct therapy. As approval times shorten we expect large numbers of patients to enter the market this year”.
While Carol Ireland, CEO of Epilepsy Action Australia is still concerned about the cost to patient, “it is helpful to see more transparency on the state of the Australian medicinal cannabis industry. We recognise that for many patients, particularly those suffering from Epilepsy, much needs to be done to reduce costs and improve access”.
Freshleaf is a division of Biologics Research Institute of Australia, who also owns Cannabis Access Clinics, giving them direct access to patient data.