Household spending on legal cannabis in the second quarter of 2020 outpaced the illicit market for the first time ever. The total cannabis market in Canada, including medical and recreational cannabis products, is expected to generate up to $7 billion in sales in 2020 with $to $4 billion in the legal recreational market. Medical cannabis is anticipated generate and additional $0.7 billion to $1.7 billion in sales. (more here)

Medical marijuana emerged as the largest marijuana type segment in 2016 and is estimated to be valued at USD 100.03 billion by 2025 (Grand View Research). A surge in demand for medical cannabis for various treatments will lead to implementation of stringent government regulations for cannabis testing that will propel the market growth. (more here)

Last month saw Europe’s largest medical cannabis registry go live. The ‘Project Twenty21’ registry aims to assess the efficacy of medical cannabis by monitoring the health outcomes of 20,000 patients who will be prescribed the medicine. The registry will make up Europe’s largest body of evidence on the safety of these medicines. (more here)

The Colombian Intersectoral Commission for Strategic Projects (Comisión Intersectorial de Proyectos Estratégicos – CIIPE) led by the Minister for Medical Cannabis, has identified Cannabis as a “Project of National Strategic Interest” (Proyectos de Interés Nacional Estratégicos – PINE). PINE projects receive immediate support from the Colombian government in recognition of their economic contribution and importance to the nation. Specifically, this reflects complete government structural and policy support for industry progress, and a commitment to streamlined government decision-making and removal of red tape impediments. Other PINE supported industries include oil and gas, mining and coffee production. Colombian cannabis production is here to stay. (more here)