See the industries leading the medical cannabis market in Brazil

The medical cannabis market is present in Brazilian pharmacies through RDC 327/2019, which regulates the commercialization of plant-derived medications. In 2024, products derived from Cannabis sativa are projected to end the year as the group with the highest percentage growth among psychotropic markets.
 

According to Close Up International Brazil, by September 2024, the medical cannabis market reached R$ 345 million in sales, with a growth of over 65% - well above the 7.7% recorded by the antidepressant group, the second on the list. Sales in pharmacies represent over 60% of this total (R$ 208.32 million).

Exponential Growth of the Cannabis Market

Comparing with sales from previous years (MAT of September considering the last 12 months), the medical cannabis market recorded a 60% growth compared to 2023, when the total value was R$ 129.48 million. In 2021, the value was only R$ 21.51 million, representing an increase of 113%.

According to Joaquim Castro, economist and CEO of Clínica Gravital, the significant growth on a small initial base is natural and efficient, given the potential of the market for cannabis products sold in pharmacies.

Present in the cannabis market for about a year, Herbarium sees the growth as healthy. "This category will gain body and strength, growing more and more, always offering doctors and patients more treatment options," comments Dalton Kawasaki, product manager of the company's cannabis line.

See the six leading companies in the pharmaceutical cannabis market presented by Close-UP International:

1st Prati-Donaduzzi
- Sales: R$108.49 million 
- Growth: 26.5%
- Market Share: 52.1%
- Points of Sale: 20,161

2nd Mantecorp Saúde
- Sales: R$31.73 million 
- Growth: 256%
- Market Share: 15.2%
- Points of Sale: 5,720

3rd GreenCare 
- Sales: R$ 28.47 million
- Growth: 77.1%
- Market Share: 13.7%
- Points of Sale: 5,448

4th Biolab
- Sales: R$ 15.83 million 
- Growth: 113.6%
- Market Share: 7.6%
- Points of Sale: 834

5th Ease Labs
- Sales: R$ 12.75 million 
- Growth: 366.9%
- Market Share: 6.1%
- Points of Sale: 3,95

6th Herbarium
- Sales: R$ 4.09 million 
- Growth: 1,382.4%
- Market Share: 2%
- Points of Sale: 2,851

Is It Time to Invest in the cannabis market?

Castro believes that the pharmaceutical market has room for new players in the cannabis sector. “This number used to be 100% (referring to the leading company holding 52.1% of the market). It is gradually stabilizing," he comments. The market is expanding with new cannabis-derived products, and extracts already account for 33.5% of shelves, while isolates account for 66.5%.

Castro also recalls that Prati was the first company to invest in the pharmaceutical market for cannabis products in Brazil, arriving at least six months before the second competitor. Today, according to the National Health Surveillance Agency (Anvisa), more than 20 companies are present in RDC 327.   

Among the top 10 cannabis products sold in pharmacies, there is no manufacturer duplication, indicating room for new entrants. Dalton Kawasaki revealed plans to launch a complete line of phytopharmaceuticals.

According to José Almeida, CEO of Cannten Ltda (ranked 13th), companies in the sector should focus on organic growth, guided by compliance and adherence to the regulations governing the Brazilian pharmaceutical market.

Opportunities and Challenges in the Cannabis Market

Despite the opportunities, the pharmaceutical cannabis market in Brazil may follow the trend of other countries, with product offerings growing faster than demand. According to Joaquim Castro, companies that focus on producing first and selling later are falling by the wayside, hence the importance of a "careful" planning, he emphasizes

The economist also states that the growth of the cannabis market is directly linked to regulatory evolution. “If there are advances in regulation, enabling greater freedom and security for consumers and entrepreneurs, it is revealing that the market will experience significant growth,” he affirms. 

The report contacted Prati-Donaduzzi and, according to the press office, the company prefers not to comment on market data.