European Market Overview
The legalized European medical cannabis market is estimated to be worth between 30 billion euros and 50 billion euros in the coming years, and Hoshi aims to become one of the market leaders in the EU leveraging our years of regulatory and industry experience from the North American cannabis market.
In just six months the European cannabis industry has grown more than it has in the past six years. Currently, patient numbers are below 100,000 across the EU, but this number is expected to grow to over 30 million in the next ten years as medical cannabinoid therapy has the ability to treat well over 52 conditions. Medical cannabis is currently authorized as a medicine in 18 European countries.
Hoshi is developing partnerships and making direct investments in to countries where there is an existing or emerging federal legal cannabis market. Hoshi’s international strategy is currently focused on the medical cannabis markets in stable economic and political jurisdictions that have developed or are developing effective regulations and enforcement mechanisms that limit licensed production and control importation and distribution.
Hoshi believes that our current and expanding European portfolio focus on key international markets, that we believe our management team's are able to thrive based off our experience in Canada's highly regulated cannabis market. Hoshi’s team will export its industry leading knowledge and practices to its global operations as these markets continue to grow and mature.
With a population of 742 million and a yearly healthcare spend of 2.3 trillion, Europe has the potential to be the largest and most valuable medical cannabis market in the world. The European Cannabis Report (2018) and the Bank of Montreal Report (2018) suggests that the value of the European market could reach that of 55 billion by 2028.