Tetrahydrocannabinol (THC) and cannabidiol (CBD) derived from cannabis became legal for medicinal use in Brazil in 2015 under certain conditions approved by the Brazilian Health Regulatory Agency (ANVISA). However, it wasn’t until March 2020 that the South American nation issued its first domestic medical cannabis production license.
“A survey by pharmaceutical company Ease Labs revealed that the medicinal cannabis market in Brazil could reach R$15 billion by 2034. The projection was released by the Sechat portal and takes into account the possible progress in the relaxation of the rules that regulate the sector, especially the revision of RDC 327/2019, under discussion at Anvisa.” reported Cannabis Medicinal in its original coverage of the Brazilian medical cannabis market (translated from Portuguese to English).
“The medical cannabis market is already experiencing rapid growth. In 2024, sales of products in this segment increased by 65%, according to data from Close-Up International. It is estimated that there are currently around 55,000 prescribing physicians in Brazil, and this number is expected to keep pace with the growth in demand, which could exceed 2 million patients by 2030.” the outlet also reported.
If Brazil’s emerging legal medical cannabis industry does achieve the projected market value by 2034, an additional 64,000 hectares of cannabis will need to be planted. That effort would create an estimated 15,000 new jobs, capture 1.1 million tons of CO₂ from the environment, and provide a nearly five-fold return on investment.
“Business analysis company Kaya Mind estimates that the Brazilian market is expected to reach $380 million Canadian dollars ($282 million) in 2025.” stated MJBizDaily in its coverage of Brazil’s emerging cannabis industry in February 2024.
“The medical cannabis market in Brazil is undergoing a transformation. In 2024, the sector generated R$853 million and served 672,000 patients in more than 80% of Brazilian municipalities.” Sechat reported earlier this year (translated from Portuguese to English).
“Of these, 315,000 use products imported via Anvisa’s RDC 660, 208,000 use medicines registered under RDC 327, and 147,000 are served through associations.” the outlet also stated.