Germany’s Cannabis Vape Market Likely To Expand Rapidly
An Israeli firm has obtained a first-of-its-kind license from the German regulatory authorities for extracts for inhalation.
The German market remains one of the most interesting in Europe in terms of product approvals and entry. As of last month, an Israeli company, Panaxia, along with its German partner Neuraxpharm, obtained a first of its kind regulatory license from German authorities for the marketing and distribution of medicinal cannabis extracts for inhalation.
The vape market so far is in its infancy so far – namely because of not only approvals but cost. So far, the largest vaped cannabinoid in the country is flower – usually with a medical vape made in Germany.
With the importation of extracts for inhalation, the vape market is likely to expand rapidly – starting with the introduction of Kanabo’s vape pod and associated vape capsules.
How fast they will find acceptance, however, is a discussion that may languish simply because most medical vape products are not affordable to the average patient without specific health insurance approval first.
That said, for existing medical cannabis patients, this alternative may become an alternative their insurers will pick up – especially for those who are fed up with the hassle of vaping flower.
Alternative Product Forms on The German Market
While flos has been the most prevalent new form of the drug for the last five years or so, there are indications that the German medical market is opening to other kinds of medical cannabinoids. Dronabinol is a big part of the market here – about 1/3 of the same – including the liquid kind. Now there will be other forms of cannabinoids that doctors can choose from.
This may increase the interest of doctors in prescribing the drug – especially given medical preference for “dosing.”
What this is also likely to do is create another expensive cannabis drug that insurers are reluctant to cover – and will be more expensive than the average cannabis patient can afford.
Right now, the average cost of cannabis to a patient is still running about 1,000 euro per month if they cannot obtain health insurance approvals upfront. This is a cost that is added to by the cost of a doctor’s prescription.
Change in other words is coming again to the German cannabis market – but the biggest barrier of all to access – cost and doctor prescription, remains unsolved.
Be sure to attend the International Cannabis Business Conference when the conference returns to Berlin in August.