Australia has one of the biggest federally governed marijuana markets outside the US, but experts still dub this as a nascent market. The county saw over 30,000 approvals for medical cannabis last year, and the health authorities assume that the number will swell to 70,000 in 2020. It is estimated that even if there is no massive increase in the present rate of prescriptions, around 70,000 such prescriptions will be written in Australia by the end of this year.
The country mainly relies on imports in the last few years as domestic producers are unable to meet the nation’s demand. It is important to note that Australia was the #1 destination for Canadian exports of cannabis products last year. Around 3700 liters of cannabis oil was exported to Australia for scientific and medical use and 200 kgs of dried cannabis.
The Therapeutic Goods Administration or TGA in Australia is responsible for approving applications related to medical cannabis products. The month of July 2020 was the busiest month for them. The Special Access Scheme or SAS allows the health practitioners to access the therapeutic products that are not listed in the ARTG or Australian Registrar of Therapeutic Goods.
The medical cannabis applications are generally approved through the SAS. The approvals have increased remarkably over the months. In July 2019, the number of approvals stood at a little more than 2200, but in July 2020, the figures have reached 5564. However, what is not clear from the available statistics are the different types of medical cannabis products that have been approved by the authorities. Despite these figures, it is essential to keep in mind that the thousands of applications that are now being approved by TGA every month only cover the tip of demand for medical cannabis in Australia. A recent survey has revealed a startling fact that only around 4% of the total population of Australia obtained cannabis with a prescription to use it for medical purposes.
