National marijuana healthcare in Germany opens the door for may residents to take advantage of the medical benefits of cannabis and also businesses to take advantage of the revenue it could generate. Aurora Cannabis out of Canada has put itself in a good position to take advantage of any medical marijuana rush in the very well populated European country.
From Germany to Canada, and from Australia to Mexico, the benefits of marijuana are being recognized all over the globe and this trend is just getting started.
One of most significant developments so far this year is the legalization of medical marijuana in Germany.
Expect 1+ Million Patients in Germany in the Coming Years
Germany is the largest country (by population) in the European Union and it represents a massive opportunity for marijuana companies. According to the most recent United Nations estimates, the current population of Germany is more than 80.6 million, which is twice the size of California.
Germany is the first county in the world to cover the cost of medical cannabis, for any therapeutic application approved by a physician, through its national health insurance system.
These factors make the German medical marijuana market a very attractive opportunity. Dr. Franjo Grotenhermen, a leading cannabis physician and managing director of the International Association for Cannabinoid Medicines, expects the number of medical marijuana patients in Germany to approach one million in the coming years.
Aurora Firms its Position in Germany
Canadian licensed medical marijuana producers have benefited from the rapidly growing German medical marijuana market since Germany does not allow for domestic cultivation.
One company capitalizing on this opportunity is Aurora Cannabis (ACB.V) (ACBFF), which acquired Pedanios GmbH in May. Pedanios has been importing, exporting, and distributing medical cannabis into and within the EU since December 2015.
Today, Pedanios GmbH announced a major development after it passed the first stage of the tender application process to become a licensed medical cannabis producer in Germany.