Portugal Eyes Leadership Role in Global Medical Cannabis Market

LOS ANGELES- Portugal is positioning itself as a significant player in the medical cannabis industry, leveraging its favorable climate and regulatory framework to boost production and exports. In 2023, the country exported nearly 12,000 kilograms of cannabis-based medical products, marking a substantial increase from the previous year.

The Portuguese government has authorized over 60 companies to cultivate, manufacture, or distribute medical cannabis products, with an additional 170 applications pending approval.

This growth is driven by global demand for medical cannabis used in treating conditions such as chronic pain, epilepsy, and side effects from cancer therapies.

Despite being a leading exporter, domestic consumption of medical cannabis in Portugal remains limited. In 2023, only about 1,000 packages were prescribed within the country, indicating a cautious approach among healthcare professionals and patients.

The global medical cannabis market is projected to grow significantly, with estimates reaching over $65 billion by 2030.

Portugal’s strategic location and established regulatory environment position it to capitalize on this expanding market, aiming to become a central hub for medical cannabis production and distribution in Europe.