MJBizMag September 2020 - 61

Insurance-Covered Cannabis Products in Germany
* These categories vary slightly from what is reported by German agencies, so there might be some variation from reported values.
Source: GKV-Spitzenverband
Copyright 2020 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved.
These figures appear in euros and refer to the second quarter of 2019 through first quarter of 2020. At press time, the exchange rate was $1.19 USD.
overseas producers will continue to supply
at least part of the German market.
Marijuana Business Daily estimates the
ISRAEL
Israel is home to one of the
biggest centrally regulated
total retail value of all medical cannabis
products sold in Germany in 2019 was at
least $185.4 million (170 million euros).
That includes private prescriptions that
patients paid for out of pocket.
And there's no sign demand
is slowing in 2020. Insurance
reimbursements for medical cannabis
continued to reach fresh quarterly
records early in the year. In the JanuaryMarch
period, total reimbursement
of cannabis and marijuana-derived
medicines reached 38.9 million euros,
the German National Association of
Statutory Health Insurance Funds
(GKV-Spitzenverband) reported. That
was 6% higher than the final quarter of
2019. (See chart " Insurance-Covered
Cannabis Products in Germany. " )
medical marijuana markets in the world.
But, as is the case in many countries,
the government body charged with
overseeing the nascent industry releases
almost no data on a regular basis.
That creates challenges for businesses
and investors keen to invest in the
industry. No data from the Israeli
government means a variety of market
indicators must be pieced together
from bits of information provided by
corporations and the government. Those
indicators include:
* The market's size.
* The number and types of licenses
held by companies.
* The quantity of cannabis produced
and stored.
* Monthly sales data.
However, with more than 70,000
patients, Israel easily represents one of
the best revenue-generating investment
opportunities in the world.
As noted above, Israel recently passed
Germany as the world's largest importer
of medical cannabis flower. In addition,
the Israeli government recently approved
medical cannabis exports. But whether
overseas shipments will occur remains
to be seen. This is not the first time the
country has " approved " cannabis exports.
ITALY
Italy is the second-largest
medical cannabis market
in Europe by volume of flower and
other full-spectrum products sold as
magistral preparations.
Patients in Italy bought 861 kilograms
of medical cannabis in 2019, a 50%
increase from the 578 kilograms sold in
September 2020 | mjbizdaily.com 61

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MJBizMag September 2020

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