Latest medical cannabis market launches Down Under

What’s the right revenue per square foot? What’s a realistic business outlook for cultivators? Get realistic market forecasts, state-by-state insights and benchmarks. Get the 2023 Factbook.

Medical marijuana is now legal on the island state of Tasmania, which is technically part of Australia.

The limited program launched Friday, according to the Hemp Gazette, with patients able to purchase MMJ only through pharmacies.

But the spread of new medical marijuana markets on a global scale is yet another indication the industry isn’t slowing down.

Already, Australian cannabis-related companies have been raising capital and solidifying international partnership deals with Canadian and U.S. marijuana businesses.

However, Tasmania is also an example of a strict business climate that likely won’t lend itself to much market growth. It appears the “controlled access scheme” authorized by the government is aimed mainly at treating epileptics, as opposed to a broader patient pool.

And, according to ABC, patients there who have already been using cannabis for years are reluctant to sign up because of expected lengthy wait lists.