EuroLife Brands Inc (CSE:EURO) (OTCMKTS:CANVF), the cannabis analytics company, has launched its first international cannabis education offering for the German market, the biggest international medical cannabis market outside of North America.
In a statement, said Shawn Moniz, chief executive officer of EuroLife Brands commented: “Germany is the first of many European markets in which we will be expanding our platforms, as that market, with a population of over 80 million is a key catalyst for our strategic revenue growth in 2020.”
“We planned for the inclusion of additional language sets in the Cannvas suite of platforms with the goal of expanding into key markets and look forward to adding many more languages as we continue to deliver evidence-based cannabis education to the world,” he added.
READ: EuroLife Brands says newly appointed advisory board chairman leading extensive European investor roadshow
Globally accessible at Cannvas.de, EuroLife said the German platform mirrors Cannvas.Me and offers the same physician-backed and educator-approved cannabis articles and learning modules for all audiences curious to learn the potential benefits of health care through cannabis.
The platform also uses the same machine-learning algorithms and artificial intelligence (AI) to contextualize and adapt to its users and deliver timely and relevant information based on user behaviours and interests.
German market set to blossom
According to the Brightfield Group, a leading predictive analytics and market research firm, Germany’s medical cannabis market totaled $73 million in 2018 but is expected to blossom to $2.7 billion by 2023.
Brightfield forecast Germany’s CBD market to be Europe’s biggest with nearly $605 million in sales, an exponential increase from Germany’s estimated CBD sales of approximately $38 million in 2018.
With over 365,000 physicians, 2,200 hospitals and thousands of clinics, Germany is becoming a leading European Union member in the emerging international cannabis industry.
Patient numbers are growing at a brisk rate and cannabis product uptake has been robust across the country, which is lacking product information, education and knowledge.
EuroLife has recognized this as an opportunity to make a positive impact for patients and establish first-mover advantage into this significant cannabis marketplace.
Brightfield Group estimates Europe’s overall legal medical cannabis sales in 2018 totaled approximately $316 million, however the market is projected to grow by a sizzling compound annual growth rate (CAGR) of 83% and reach nearly $8 billion by 2023.
Earlier in September, EuroLife announced that its newly appointed advisory board chairman, Derek Ivany, will be leading an extensive European investor roadshow scheduled for commencement in late September.
The company said the specific focus on the upcoming investor tour will be placed on contact points in Germany, UK, Austria, Frankfurt, Switzerland, Greece and Portugal amongst retail, institutional, and family office investors.
Contact the author at [email protected]