Ethopharm is a key resource for products and services in the healthcare and Nutraceutical sectors – discover their rise in the European medical cannabis market.
Ethopharm is a key resource for products and services in the medical and retail cannabis sectors. Their e-trade marketplace offers a wide range of services that benefit operators at any stage in the supply chain. Here, we introduce our partners who not only provide an insight into the European medical cannabis market, but also the global cannabis market.
Ethopharm Industry Services have three focus points within their company:
- Ethnocert: provides details regarding compliance and certification programs that assist you with EU-GMP Certification, genetic registration and product import approval;
- Ethnotrade: a platform designed to help customers buy and sell, medical and recreational products, hemp products, vaporisers, cultivation equipment and related services in the marketplace; and
- Ethnocare: professional medical education and medical product resource for healthcare professionals. Find the latest studies and reports in one convenient place.
The European medical cannabis market
According to research carried out by the Prohibition Partners, the overall European cannabis market is estimated to be worth €123bn by 2028 medical sales are predicted to be worth €55bn and retail sales are expected to be larger at €68bn in sales by 2028 with the rapid growth reported, both markets are very attractive to outside stakeholders and early entry is key for securing a dominant market share but operators entering the European cannabis market need to ensure their products are compliant with EU legislation or face being caught out. The cannabis industry in Europe consists of two markets, medical and retail. Currently, the European retail market is made up of CBD products with low levels of THC sold mainly as food supplements.
Compliance key to market access
The regulatory path to date has not been smooth and has not worked in improving access to high quality medical and retail products for those who need access medically, or wish to use them to supplement their lifestyle. If anything, the current regulatory pathway that some member states are taking in trying to close the market down, only pushes consumers further into the grey market to deal with what may be less scrupulous producers and sellers willing to take the risks and with no qualms about selling contaminated products.
Regulators need to consider that the best way to protect European consumers is to ensure a market that provides access to a range of well defined, safe cannabis based products, available in normal medical and retail channels through responsible importers, pharmacists and retailers who hold their suppliers to the highest standards.
Given it will be the biggest cannabis market for some time, it is key for operators to understand EU regulations. Ethopharm works with producers to ensure products are compliant, and brands to ensure they are competitive.