With a possible affected person rely greater than double Canada’s, Colombia’s medical marijuana market is shortly gaining recognition as a respectable drive within the international hashish business.
The complete marketplace for sufferers with qualifying circumstances in Colombia exceeds 5.5 million individuals, in accordance to QuantilesIMS, a U.S.-based market analytics firm.
The nation, which has lengthy been recognized for its black-market drug business, has developed a complete framework to increase the business.
In addition, Colombian corporations are gaining recognition in different methods.
Khiron Life Sciences turned the first Colombian medical hashish firm on the TSX Venture Exchange when it began buying and selling Thursday beneath the image KHRN.
Analysts say it’s a milestone that may finally draw extra capital to Colombia’s medical marijuana sector.
“It means capital markets are accepting Colombia as a valid market for medical cannabis. It’s a validation that’s important for the whole of Colombia,” Alvaro Torres, Khiron Life Sciences CEO and co-founder, informed Marijuana Business Daily.
Another firm, hashish processor PharmaCielo, could see a stock trade listing in Toronto within the coming months.
“But considering we can cultivate and produce at such a low cost and the same quality (as Canada), the economics are more beneficial in Colombia,” Torres stated. “On top of that, I don’t foresee hundreds of producers here, like you see in Canada.”
How Colombia’s “accessible” MMJ market breaks down, in accordance to QuantilesIMS analysis:
- Chronic ache: 2.2 million individuals
- Opioid-based medical substitution: 500,000
- PTSD: 475,000
- Insomnia: 520,000
- Anxiety: 720,000
- Depression: 90,000
- Other: 900,000
Matt Lamers may be reached at [email protected]
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