Below is the part of a weekly series of benchmarks provided by the team at Cannabis Benchmarks®.
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This week’s Canada Cannabis Spot Index report examines the state of the Canadian medical cannabis market since recreational legalization.
Despite the financials of major licensed producers showing a continued focus on the medical sector, trends across most of the country show it largely contracting. The number of registered medical clients/patients has fallen dramatically since September 2019. Meanwhile, shipments of product ordered online from LPs by registered clients have been trending downward since October 2018, though they saw a spike in March as clients stocked up ahead of COVID-related lockdowns.
In general, declines in registered clients have occurred to a greater degree in provinces that have seen the establishment of a significant amount of physical recreational storefronts, such as Alberta. A strong retail footprint facilitates convenient access to the recreational market and can result in patients allowing their registrations to lapse.
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Source: Canada Cannabis Spot Index, Cannabis Benchmarks
