Just how big is the market for low-dose CBD medication? Australia’s leading industry data source reports that 20% of patients are taking low-dose CBD.
Australians might be looking at a cleared path to cannabis medications as soon as next year.
The Australian government made an interim decision earlier this month (Sept. 9) to bring low-dose CBD medication over-the-counter.
Right now, accessing treatments Down Under means meandering through pathways to get a doctor’s prescription and approvals from the government’s Therapeutic Goods Administration (TGA), the Aussie version of the FDA. However, this government announcement means that CBD could be labelled down from a Schedule 4 to a Schedule 3 drug with implementation proposed on June 1, 2021.
So just how big is the market for low-dose CBD medication? FreshLeaf Analytics, Australia’s leading industry data source, wrote in its Q3 Patient, Product and Pricing Analysis that 20% of patients are taking low-dose CBD. There’s also the potential for the over-the-counter CBD market in Australia to…