The rise and rise of Australia’s $350 million medicinal cannabis business

But local producers are struggling in the 'hyper-competitive' and 'frustrating' market, says Little Green Pharma's Paul Long.

Just how much is the Australian medicinal cannabis market worth?

The estimates put it at more than $350 million.

It is a small slice of a bigger pie: the global trade, according to one analysis, was valued at $33.5 billion in 2022 — the harvest of what has been dubbed ‘the green rush‘.

There are currently 48 Australian companies with a licence to cultivate and produce cannabis, and of these, 27 also hold a manufacturing licence.

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