General Overview of Current Legal Industries

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It is evident more than ever that Medical Cannabis is in the forefront of global consciousness thanks to a unified front. There are a number of regulated markets that are pioneers in this emerging and compassionate industry like that of Canada, certain areas of Europe (Austria, Czech Republic, Finland, Germany, Italy, The Netherlands, Portugal & Spain), Israel, the U.S.A and of course – of late, Australia.

Israel

Is considered a leader of the globe in research with Medical Cannabis and has a well-developed cannabis sector and copious research programs. In fact, THC (the psychoactive component) was first isolated by Israeli scientists in 1964 at the Weizmann Institute. Ahead of the times in the 1990s Israel permitted utilising medical cannabis for cancer patients and those with pain-related illnesses such as Parkinson’s, multiple sclerosis, Crohn's Disease, other chronic pain and post-traumatic stress disorder. The country and its united effort continues to push boundaries today. Australia, and certain regions of the globe, should take a leaf from this book.

U.S.A

There are 29 states that are legal for Medical Cannabis in the US. As a country – they are in an interesting position, as there are state laws that legalise medical cannabis – however, on a federal level, Cannabis is still considered a schedule 1 drug that is determined to have a high potential for abuse and no accepted medical use. This contradictory system breeds misfortune, and as a result will limit any potential for Australia to engage or rely on in the near future until this changes. A February 2017 poll in the US found national support for medical cannabis at 93%.

Canada

We can look towards Canada and consider it a successful model whereby patients are able to easily access their medicine at affordable prices under its current regulation – Marijuana for Medical Purposes Regulations (MMPR). Health Authorities in Canada estimate that the total number of patients using medical cannabis is likely to grow to 450,000 by 2024.

Europe

Much like Australia, there are certain countries are beginning to realise the benefits of Medical Cannabis and are enacting their own laws to regulate a market. One could consider this region in its infancy stage of development. There is a huge population in this area and when it is developed Delta believes it will hold a significant importance to the cannabis sector, and in guiding our market too. It is also common knowledge that the Netherlands has been leading in this region – also sustaining other surrounding countries, too.