The Business Year gears up for latest research on Latin American medical cannabis sector

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The Business Year (TBY), a global media group that has been providing investors, businesses, and governments with first-hand insights into the world’s most dynamic markets for over a decade, has been at the forefront of documenting the transformative journey of the medical cannabis industry in Latin America in recent years, and is gearing up for its fourth special report on the subject.


With a dedicated focus on the region, TBY has released three insightful special reports: Medical Cannabis Colombia (2019), Medical Cannabis Latin America & Caribbean (2020), and Medical Cannabis Latin America 2022 (2022). These reports have provided invaluable insights into the burgeoning medical cannabis market, its regulatory landscape, and its potential for growth.


TBY’s first groundbreaking report, Medical Cannabis Colombia, on which research began in 2018, shed light on Colombia’s emergence as a key player in the global medical cannabis industry through exclusive interviews as well as in-depth analysis. It explored the country’s favorable climate, rich agricultural heritage, and progressive regulatory framework, which has attracted numerous international investors and positioned Colombia as a major exporter of medical cannabis products.


Medical Cannabis Latin America & Caribbean, released in 2020, expanded the scope to encompass the broader region, emphasizing the significant potential for medical cannabis markets in countries such as Mexico, Ecuador, and Brazil. For this report, TBY sat down with industry leaders, local entrepreneurs, regulatory administrators, government legislators, legal advisors, medical researchers, and global investors to paint a picture of the opportunities and challenges in Latin America and the Caribbean’s wider medical cannabis landscape.


Building upon its comprehensive coverage, TBY’s most recent report, Medical Cannabis Latin America 2022, delved deeper into the industry’s evolution in the region. The report featured exclusive interviews with industry leaders, policymakers, and experts, providing valuable insights into market trends, investment opportunities, and regulatory frameworks across Latin America. It highlighted recent developments, including the diversification of revenue streams via products such as dry flowers, and reported on estimates that the sector could be worth USD840 million in Latin America by 2024.


In recent news, Colombia continues to make strides in the medical cannabis sector. The country’s regulatory agencies have been actively working to streamline processes and attract further foreign investment, leading to a surge in cultivation licenses and export authorizations.


Peru has also emerged as a key player in the region’s medical cannabis landscape. In 2022, the country passed legislation to legalize the production, commercialization, and research of medical cannabis products. The move has opened up new opportunities for domestic and international players to tap into Peru’s vast market potential.


Elsewhere, Panama, known for its strategic geographic location, has made significant progress in leveraging medical cannabis for tourism and export diversification. The country aims to position itself as a regional hub for medical cannabis research and development, attracting international investors and creating employment opportunities.


Much of the region also continues to follow Uruguay, a trailblazer in cannabis legalization. The country’s regulated market, which allows for the cultivation, sale, and consumption of cannabis, serves as a progressive example for other nations.


As the Latin American medical cannabis industry continues to grow and evolve, TBY remains committed to providing up-to-date and authoritative coverage of this dynamic sector. Through its in-depth reports, exclusive interviews, and comprehensive analysis, TBY has solidified its position as a pioneer in documenting the transformative journey of the medical cannabis industry in Latin America.


Research on TBY’s latest special report on medical cannabis will begin in 3Q2023 and publish in 2024. TBY invites businesses across the Latin American medical cannabis landscape to get in touch with its Regional Director for Latin America, Federica Fermo, if they would like to participate. You can get your digital copy of Medical Cannabis Latin America 2022 at 50% off now at using the code “medcan50tby” at checkout.

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