Tilray, Jazz Pharmaceuticals, Inc., Aurora Cannabis Inc. are dominating the Europe Medical Cannabis Market in 2021

Europe Medical Cannabis Market is expected to grow with a CAGR of 29.5% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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The Europe medical cannabis market is a highly fragmented market, which includes huge number of key players. The market has witnessed increasing strategic developments owing to favourable market scenario.  

The major players dealing in Europe Medical cannabis market are introducing strong range of products provider along with launching new products and adopting strategic initiatives such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.  

For instance:

  • In February 2022, Sanity Group GmbH, a business segment of Sanity Medical, formed an agreement with telemedicine platform Telaleaf to strengthen telemedicine in cannabis therapy in Germany. The agreement ensures the knowledge about medical cannabis to doctors’ patients and the healthcare system to allow better access and treatment quality.
  • In December 2019, Tilray announced its merger with Privateer Holdings, Inc., which invests in the legal cannabis industry. This helped the company to grow in the coming years.

Tilray is the dominating player in Europe Medical cannabis market. The other key players existing in the market are Jazz Pharmaceuticals, Inc., Aurora Cannabis Inc. are Medipharm Labs, Althea Company Pty Ltd, PharmaHemp, Elixinol Global Limited, CANOPY GROWTH CORPORATION, ECOGEN BIOSCIENCES, Little Green Pharma, GRASS & CO., CANNARAY, Sanity Group GmbH., VIVO Cannabis Inc., HEXO Corp., and Marrican Inc, among others.

Tilray

Tilray is headquartered in the New York, U.S. and was founded in the year 2013. The company focuses on cannabis research, cultivation, processing, and distribution. The various business segments of the company include cannabis business, distribution business, beverage alcohol business, wellness business out of which cannabis business is the market-focused business category. 

For instance,

  • In May 2020, Tilray announced that it had received GMP certification in accordance with European Union standards which allows the facility to manufacture medical cannabis extracts in-house and can export finished medical cannabis products. This helped the company to expand its business.
  • In January 2020, Tilray announced that it had entered into an agreement with Canndoc ltd. to export a wholesale shipment of up to 2.5 tonnes of medical cannabis from Portugal to Israel. This helped the company to gain the market.

 The company has a presence across North America, Europe, South America, Asia-Pacific and Middle East and Africa. The company has various subsidiaries that are Tilray Canada (Canada), Tilray Europe (Europe), Tirlary Australia & New Zealand (Australia), Manitoba Harvest (USA), High Park Company (Canada), among others.

Jazz Pharmaceuticals, Inc.

Jazz Pharmaceuticals, Inc. is headquartered in Dublin, Ireland and was founded in the year 2003. The company is focused on developing life-changing medicines for people with serious diseases who often have limited or no options. The company operates in various product segments such as neuroscience therapeutic area and oncology therapeutic area in which neuroscience therapeutic area is a market-focused category.

  • In August 2021, Jazz Pharmaceuticals plc and its subsidiary GW Pharmaceuticals received approval from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for the use of Epidyolex (cannabidiol). Epidyolex (cannabidiol) is used to cure seizures associated with tuberous sclerosis complex. The approval received resulted in post-market approval in the U.K. and represented the fourth approved indication of cannabis-based medicine in the UK for GW stating the GW's commitment to the UK and regulatory approved cannabis-based medicines.

The company has a presence across North America, Europe. In addition, the company has various  subsidiaries that are, GW Pharmaceuticals (U.K.), Celator Pharmaceuticals Inc. (The U.S.), Gentium SpA (Italy), Cavion LLC (U.K.), GW Research Ltd (U.K.), among others.

Europe Medical Cannabis Market

Aurora Cannabis Inc.

Aurora Cannabis Inc. is headquartered in Alberta, Canada and was founded in the year 2014. The company focuses on providing a wide range of premium quality cannabis and hemp products and services, develops innovative technologies, promotes cannabis consumer health and wellness. The various product categories of the company include dried flower, cannabis oil, capsules, edibles, vapes, concentrates, topicals, accessories in which dried flower, cannabis oil, capsules, edibles, vapes, topicals are the market focused category.

For instance,

  • In March 2022, Aurora Cannabis Inc. acquired Terra Farma Inc. The acquisition is expected to strategically strengthen Aurora Cannabis Inc.'s position in the Canadian and European market by placing the Thrive team in charge of Aurora's Canadian recreational portfolio to focus on premium products, including dried flowers, pre-rolls, vapor products, and concentrates.

The company has a presence across North America, Europe, South America, Asia-Pacific, Middle East and Africa. In addition, the company also generates its revenue from various subsidiaries including Aurora Deutschland GmbH (Germany), Cannimed (Canada), Reliva, LLC (U.S.), Aurora Europe GmbH (Germany), Pedanios GmbH (Germany), among others.