Canada’s medical cannabis program is evidently thriving as more than 10 thousand patients join the program every month.
Ever since the federal government announced that they will be legalizing recreational marijuana, the Canadian medical cannabis program is starting to see a large influx of patients.
According to a data survey conducted by Health Canada and the information collected under the Access to Cannabis for Medical Purposes Regulations, Canada has more than 300,000 patients as of April 2018.
When compared to the number of patients in April of the year before (174,503), this increase is very drastic and it nearly doubles the total number of program participants.
Will there be a shortage in the medical market?
Adding such a large number of patients to the already big medical market is a very big risk, especially with the upcoming legalization of recreational cannabis.
Having double the amount of patients means that the program will also have to produce for double the demand of the year before, and that’s not a problem right now as many licensed producers have increased their production capacity in the last two years.
However, this may not be enough as many experts now agree that the shortage of cannabis in Canada is imminent.
Aaron Salz from the Stoic Advisory consulting firm says that medical cannabis growth is slowing down because LPs are reallocating efforts and investments.
“Companies are now focused on building brands, inventory for the adult-use market, and even retail in some cases. That’s redirected past efforts of acquiring patients and medical market share,” he said.
Many leading figures in the industry have pointed out that the medical market will not, and cannot suffer in no case, no matter what the situation is on the recreational market.
So far all the buzz this year has been focused on the federal government passing Bill C-45, but the medical market may be at its weakest point just weeks before the recreational market opens, even though the number of patients is still steadily growing.