Our Q3 2019 report is the most comprehensive review of the marketplace to date, the product of two-and-a-half years constantly and cumulatively tracking data. We have found that the number of new products available has jumped by 40% in just 6 months, with Australian doctors now having a choice of 76 products to prescribe from.
The good news for patients is that while the product prices have stabilised, the greater availability of cheaper products has resulted in overall lower monthly costs for the patient. One obstacle to costs coming down even further remains – the lack of federal government subsidy, via the Pharmaceutical Benefit Scheme. Driving regulations also remain a factor for both doctors and patients due to Australia’s no-tolerance stance towards being tested for THC.
Patient growth continues at break-neck speed, but is still far from reaching its full potential, leaving a huge opportunity for product innovation, diversification and addressable patient outreach.