- Market analysts place high hopes on the potential of the United Kingdom market
- Growing demand from patients and patient families brought the country’s medical cannabis program to a tipping point
- RYAH is committed to providing valuable insight and transforming patient care through big data and artificial intelligence
After three years of medical cannabis being legal in the United Kingdom, the country has a total of only three patients with a prescription in the entire public system, noted a recent blog from RYAH Group (CSE: RYAH). The article noted that many more patients receive cannabis-derived medications, including flower and cannabis oil, through a growing number of private clinics (https://ibn.fm/mWT2d).
The blog provided an overview of the market, observing that “market analysts continue to place high hopes on the potential of the UK market. Yet, in its current form, there remains significant room for improvement to the UK system. With little to no access through the public system and the radically expensive costs associated with privately supplied medical cannabis, many patients are desperate for prescriptions,” RYAH observed. “With growing calls from patients and patient families, the UK’s medical cannabis program is at a tipping point once again.
The article pointed out that access to medical cannabis is restrictive in the country, with patients obtaining initial prescriptions through a specialist consultant rather than their general practitioners. Regulations also require patients to try at least two non-cannabis treatments before being eligible for a prescription, which can potentially mean months, if not years, of trial and error before a patient may qualify, the company reported.
However, “the most challenging condition within the UK’s medical cannabis policies is the requirement for published evidence,” the blog states. “Medical cannabis may only be prescribed if there is published scientific support for its therapeutic benefits. Most people familiar with cannabis research will appreciate the complications caused by this policy. Patient access around the world suffers because there is a lack of research.”
The country is ready for change, RYAH reports. “In 2020, Prohibition Partners suggested the UK market could reach £2.31 billion ($3.13 billion US) by 2024. Statista offered an updated estimate in 2021, predicting the market would hit $1.29 billion US by 2024. At the current pace, these numbers seem unattainable. But change is coming.
“The UK public is firmly behind medical cannabis, with more than three-quarters supportive of legal access,” the article continued. “With the growing public outcry following continued reports that the government is refusing access to this valuable therapy, change is in the air.”
The leading data technology company in plant-based medicine, RYAH is committed to providing valuable insight and transforming patient care through big data and artificial intelligence. The company is working to unearth breakthrough discoveries that will reshape the understanding of plant-based medicines.
For more information, visit the company’s website at www.RYAHGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to RYAH are available in the company’s newsroom at https://ibn.fm/RYAH
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