• Intelligence · Australia
Australia, measured.
Australia imported a record 81 tonnes of cannabis flower in 2025, grew another 55 at home — and supplied a quarter less to patients than six months earlier. This page measures every layer: trade, production, stock, demand, potency, access and price.
Flower imports · tonnes · ODC
100
80
60
40
20
0
7.2t
2021 · 7.2t
24.9t
2022 · 24.9t
44.6t
2023 · 44.6t
77.4t
2024 · 77.4t
81.1t
2025 · 81.1t
2021
2022
2023
2024
2025
• The snapshot
One market, five signals.
Australia added record supply on every front in 2025 and supplied less of it to patients than the year before. These five numbers are the whole argument.
81 t
imported in 2025
+4.8% YoY
55 t
grown domestically
+30% YoY
2.65M
units supplied
H2 2025, −28.6%
24.1%
average THC in flower
H2 2025, from 21.5% in 2021
854
flower product lines
from 97 in 2021
• Supply
Record imports, record harvest, record inventory.
1
Thailand took a quarter of the import market in one year
1.1t to 20.7t — roughly five times the market’s entire net growth. Share-taking, not expansion.
2
Canada gave it up
62.1t to 49.1t, and 80% of imports down to 61%, as oversupply at home met a buyer’s market here.
3
Cultivation grew into the contraction — and stock built
55.3t grown, up 30%, while closing inventory reached 50.8t: roughly a year of national demand.
Who supplies Australia
Share of flower imports by origin. Hover any band for the figure.
100%
80%
60%
40%
20%
0%
2021 · Other · 19.4%
2021 · Canada · 80.6%
2022 · Other · 14.9%
2022 · Canada · 85.1%
2023 · Other · 11.9%
2023 · Colombia · 3.4%
2023 · South Africa · 4.3%
2023 · Canada · 80.5%
2024 · Other · 11.9%
2024 · South Africa · 6.5%
2024 · Thailand · 1.4%
2024 · Canada · 80.2%
2025 · Other · 3.9%
2025 · Colombia · 2.5%
2025 · New Zealand · 2.7%
2025 · South Africa · 4.8%
2025 · Thailand · 25.5%
2025 · Canada · 60.5%
2021
2022
2023
2024
2025
CanadaThailandSouth AfricaNew ZealandColombiaOther
Origin splits for 2021–2023 are partial; unattributed volume sits in Other.
Grown at home, and stockpiled
Tonnes of flower, calendar years. Hover any bar for the figure.
60
50
40
30
20
10
0
16.7
2021 · Domestic production · 16.7t
17.7
2021 · Domestic stock · 17.7t
24.9
2022 · Domestic production · 24.9t
15.4
2022 · Domestic stock · 15.4t
27.1
2023 · Domestic production · 27.1t
14.8
2023 · Domestic stock · 14.8t
23.3
2023 · Imported stock · 23.3t
42.4
2024 · Domestic production · 42.4t
22
2024 · Domestic stock · 22t
18.1
2024 · Imported stock · 18.1t
55.3
2025 · Domestic production · 55.3t
29.4
2025 · Domestic stock · 29.4t
21.4
2025 · Imported stock · 21.4t
2021
2022
2023
2024
2025
Domestic productionDomestic stockImported stock
Imported stock reporting begins 2023. Production is a flow; stock is a year-end level.
Australia added 136.4t of new flower supply in 2025 against roughly 57t supplied to patients and 6.8t exported.
Just under half of new supply found an end use as flower. The rest is inventory — and inventory is what sets wholesale prices for the next four to six quarters.
• Demand
Eight periods of growth, then the first contraction.
1
−28.6% in one half
3.72M units to 2.65M — and dried flower tonnage fell about 29% with it.
2
Broad, not selective
Flower −33%, oral liquids −21%, vapes −20%. Pastilles grew 9%.
3
Flower is past its peak share
78.6% of units at the H2 2024 high, 72.0% now.
Units supplied by dosage form
Millions of units, half-years. Hover any band for the format and figure.
4M
3M
2M
1M
0M
H2 2021 · Other · 0M units
H2 2021 · Pastille · 0M units
H2 2021 · Oral liquid · 0.2M units
H2 2021 · Flower · 0.3M units
H1 2022 · Other · 0M units
H1 2022 · Vape · 0.1M units
H1 2022 · Oral liquid · 0.2M units
H1 2022 · Flower · 0.5M units
H2 2022 · Other · 0M units
H2 2022 · Vape · 0.1M units
H2 2022 · Oral liquid · 0.4M units
H2 2022 · Flower · 1.1M units
H1 2023 · Other · 0M units
H1 2023 · Vape · 0.1M units
H1 2023 · Oral liquid · 0.3M units
H1 2023 · Flower · 1.2M units
H2 2023 · Other · 0M units
H2 2023 · Vape · 0.1M units
H2 2023 · Oral liquid · 0.3M units
H2 2023 · Flower · 1.6M units
H1 2024 · Other · 0M units
H1 2024 · Pastille · 0M units
H1 2024 · Vape · 0.2M units
H1 2024 · Oral liquid · 0.4M units
H1 2024 · Flower · 2.2M units
H2 2024 · Other · 0M units
H2 2024 · Pastille · 0.1M units
H2 2024 · Vape · 0.2M units
H2 2024 · Oral liquid · 0.5M units
H2 2024 · Flower · 2.9M units
H1 2025 · Other · 0M units
H1 2025 · Pastille · 0.2M units
H1 2025 · Vape · 0.2M units
H1 2025 · Oral liquid · 0.4M units
H1 2025 · Flower · 2.9M units
H2 2025 · Other · 0M units
H2 2025 · Pastille · 0.2M units
H2 2025 · Vape · 0.2M units
H2 2025 · Oral liquid · 0.3M units
H2 2025 · Flower · 1.9M units
H2 2021
H1 2022
H2 2022
H1 2023
H2 2023
H1 2024
H2 2024
H1 2025
H2 2025
FlowerOral liquidVapePastilleOther
Sponsor self-reported supply under SAS and Authorised Prescriber pathways — not patients, prescriptions or pharmacy sell-through.
The channel it runs through
The ten largest Australian medical cannabis websites by tracked visits, May 2026.
1
Alternaleaf
331,912
2
UMeds
186,783
3
Candor Medical
154,550
4
Doctors on Demand
138,620
5
honahlee
74,236
6
MyLeaf
70,706
7
Dispensed
53,289
8
Leaf Doctors
47,459
9
Rays Wellness
44,679
10
easykind
39,700
Web traffic is a demand and interest proxy — not market share, patients, prescriptions or revenue. SimilarWeb estimates, ±10–15%, single month.
• Price
Canada cut its Australian price 41% — and won volume back.
1
The steepest fall of any major destination
CA$1,991/kg in H1 2025 to CA$1,179 in H1 2026, while volume rose 29.7t to 36.9t.
2
The German premium widened, it did not close
1.69× Australia’s price in H1 2025, 2.42× in H1 2026. Both fell; Australia’s fell nearly three times faster.
3
Australia now prices with the reprocessing hubs
Portugal, Czechia and Malta buy raw material to repackage. Australia buys finished product for patients — at the same money.
What each destination pays Canada for flower
Declared export value, Canadian dollars per kilogram. Germany as the benchmark, Australia, and the three European reprocessing hubs. Hover any bar for the figure.
Germany
Germany · H1 2025 · CA$3,362/kg
CA$3,362Germany · H1 2026 · CA$2,857/kg
CA$2,857Malta
Malta · H1 2025 · CA$4,166/kg
CA$4,166Malta · H1 2026 · CA$1,880/kg
CA$1,880Portugal
Portugal · H1 2025 · CA$1,806/kg
CA$1,806Portugal · H1 2026 · CA$1,490/kg
CA$1,490Czechia
Czechia · H1 2025 · CA$2,333/kg
CA$2,333Czechia · H1 2026 · CA$1,336/kg
CA$1,336Australia
Australia · H1 2025 · CA$1,991/kg
CA$1,991Australia · H1 2026 · CA$1,179/kg
CA$1,179H1 2025H1 2026
Declared export values, Statistics Canada HS 1211.90.10, processed by Cannamonitor. Canadian dollars per kilogram. Shipment-level Incoterms are not visible, so these are directional price signals rather than like-for-like transaction prices.
And potency makes the real fall steeper
Australian flower potency rose from 21.5% to 24.1% THC. Adjusted for what a buyer actually receives, the fall is closer to 47% than 41%.
CA$1.18/g
Australian landed price
H1 2026, from CA$1.99/g a year earlier
CA$0.49
per 100mg of THC
against CA$1.30 into Germany — a 2.65× gap
−47%
per milligram of THC
the fall once the potency rise is taken out
2.42×
German premium
up from 1.69× — the gap is widening
Retail has already halved once. The minimum listed price of flower fell 57%, from A$11.90/g to A$5.00/g between January 2022 and January 2024, on Honahlee data. The landed-cost fall since then has not yet finished working through to the shelf.
• Access
One pathway now carries 89% of the market.
1
SAS has collapsed as a channel
62.5% of units in H2 2021, 11.4% today. Authorised Prescriber is the market.
2
That concentration is the structural risk
Everything runs on unapproved products through two pathways. Only two cannabis medicines are fully approved on the ARTG.
3
It is exactly what the TGA is reviewing
82% of consultation respondents opposed restricting SAS and AP access — which tells you what the sector thinks is at stake.
Special Access Scheme share of units supplied
Percent. Authorised Prescriber overtook SAS in H1 2022 and never gave the share back.
70
60
50
40
30
20
10
0
62.5%
H2 2021 · 62.5% of units
47%
H1 2022 · 47% of units
17.5%
H2 2022 · 17.5% of units
10.5%
H1 2023 · 10.5% of units
9.2%
H2 2023 · 9.2% of units
8.5%
H1 2024 · 8.5% of units
10.5%
H2 2024 · 10.5% of units
12.2%
H1 2025 · 12.2% of units
11.4%
H2 2025 · 11.4% of units
H2 2021
H1 2022
H2 2022
H1 2023
H2 2023
H1 2024
H2 2024
H1 2025
H2 2025
SAS approvals are granted per patient; Authorised Prescriber status lets a practitioner supply a class of patients without individual approvals.
• Product
Under pressure, the market traded up.
1
The centre moved a full band
20–25% THC was half the market in 2021 and a quarter now. 25–30% is the new core at 52% of units.
2
The contraction hit the bottom
Low-potency flower lost roughly two thirds of its volume in six months. The 30%+ band lost about 14%.
3
The reported category field disagrees — and it is wrong
Category 5 appears to fall from 86.6% to 79.6% while measured potency held. Sponsors paste the category definition into the profile field.
Flower supply by THC band
Percent of flower units. Weighted average potency rose from 21.5% to 24.1% across the series. Hover any band for the figure.
100%
80%
60%
40%
20%
0%
H2 2021 · 30%+ · 7.2%
H2 2021 · 25–30% · 16.8%
H2 2021 · 20–25% · 51.6%
H2 2021 · 15–20% · 21.7%
H2 2021 · <15% · 2.7%
H1 2022 · 30%+ · 5%
H1 2022 · 25–30% · 24.4%
H1 2022 · 20–25% · 47.4%
H1 2022 · 15–20% · 20.1%
H1 2022 · <15% · 3%
H2 2022 · 30%+ · 2.2%
H2 2022 · 25–30% · 33.2%
H2 2022 · 20–25% · 38.4%
H2 2022 · 15–20% · 23.7%
H2 2022 · <15% · 2.5%
H1 2023 · 30%+ · 3.8%
H1 2023 · 25–30% · 37.4%
H1 2023 · 20–25% · 46%
H1 2023 · 15–20% · 10.6%
H1 2023 · <15% · 2.2%
H2 2023 · 30%+ · 6.5%
H2 2023 · 25–30% · 39.4%
H2 2023 · 20–25% · 46.4%
H2 2023 · 15–20% · 6.7%
H2 2023 · <15% · 1.1%
H1 2024 · 30%+ · 7.5%
H1 2024 · 25–30% · 43.8%
H1 2024 · 20–25% · 41%
H1 2024 · 15–20% · 5.3%
H1 2024 · <15% · 2.3%
H2 2024 · 30%+ · 7.9%
H2 2024 · 25–30% · 50.6%
H2 2024 · 20–25% · 30.3%
H2 2024 · 15–20% · 9.9%
H2 2024 · <15% · 1.3%
H1 2025 · 30%+ · 7%
H1 2025 · 25–30% · 48.5%
H1 2025 · 20–25% · 30.6%
H1 2025 · 15–20% · 9.5%
H1 2025 · <15% · 4.4%
H2 2025 · 30%+ · 8.3%
H2 2025 · 25–30% · 51.9%
H2 2025 · 20–25% · 26.7%
H2 2025 · 15–20% · 10.3%
H2 2025 · <15% · 2.8%
H2 2021
H1 2022
H2 2022
H1 2023
H2 2023
H1 2024
H2 2024
H1 2025
H2 2025
<15%15–20%20–25%25–30%30%+
Parsed from sponsor-reported names and profiles; 97–99% of flower units in every period. Label claims, not lab assays.
Two formats, one axis
Flower and vape THC on a single 0–100% scale. Almost nothing sits between them.
Dried flower24.1% avg THC
79% of units sit between 20% and 30% THC
Vape / inhalation78.2% avg THC
92% of units sit between 70% and 90% THC
0%25%50%75%100% THC
| Every format is getting stronger | 2024 | 2025 |
|---|---|---|
| Flower — 10g packs, share of units | 83.9% | 66.8% |
| Flower — 11–20g packs | 15.1% | 31.5% |
| Oral liquid — 150mg/mL+ formulations | 7.5% | 24.9% |
| Oral liquid — CBD-only share of units | 29.4% | 39.4% |
| Pastille — 20mg+ THC per piece | 4.8% | 29.4% |
| Vape — THC-led share of units | ~90% | 93% |
Volume fell and intensity rose in every format at once — the signature of a market consolidating purchases under price pressure.
• Regulation
The risk has moved from enforcement to scheduling.
Australia’s market grew on unapproved products supplied through SAS-B and Authorised Prescriber pathways — a ~5,455% five-year rise to over one million patients, on products almost none of which are on the ARTG. That growth triggered a coordinated tightening across the TGA, AHPRA and the states. The August 2025 consultation drew 790 submissions; the TGA moved to stakeholder workshops in February 2026 and a scheduling discussion paper to the ACMS in March, and has given no assurance that high-potency THC will stay out of Schedule 9.
Momentum (−100 to +100)-55
Risk score80
Pass likelihood %70
Process completion %65
Status: Under ReviewDirection: RestrictiveLayer: Enforcement / practiceEvidence: Official primaryNext milestone: 2026-08-31
Six pressure points, ranked by what they would actually do to the market. The bar across the top of each card is its severity.
Milestones
2025
AHPRA expands rapid-response unit targeting prescribing outliers
Restrictive
Jul 2025
Crackdown on high-volume prescribing (one doctor reportedly wrote ~17,000 scripts)
Restrictive
Aug 2025
TGA opens consultation on the safety and regulatory oversight of unapproved products
Review
Sep 2025
Queensland nine-point action plan; TGA advertising infringement notices
Restrictive
Oct 2025
751 submissions under review; RACGP reports a 5,455% five-year usage rise
Mixed
Nov 2025
AHPRA bans Dr Justin Welsh for life; TGA fines ACPharm Queensland A$99,000
Restrictive
Dec 2025
Tasmania passes interstate prescriptions bill
Mixed
Jan 2026
Medicinal cannabis named among 12 TGA priority compliance areas for 2026-27
Restrictive
Feb 2026
DVA framework effective; consultation analysis published (790 submissions)
Restrictive
Mar 2026
TGA gives no assurance on scheduling; Cann Group reports a 30% revenue fall
Restrictive
Aug 2026
TGA commences Federal Court proceedings over unlawful advertising
Restrictive
• Operators
Consolidation is following the surplus.
Little Green Pharma absorbed Cannatrek and bought Health House inside six months. Bioxyne renamed itself BLS Pharmaceuticals. Cannim went into administration. Hover, tap or tab any name for the detail.
Cultivation
ODC-licensed growers
Little Green PharmaiLittle Green PharmaASX:LGP · A$42.4M FY2026 · rolling up the marketFirst Australian company to grow medicinal cannabis locally, and now the sector's consolidator: it absorbed Cannatrek (Federal Court cleared 26 May 2026, implemented June) and bought distributor Health House for A$1.25M. FY26 revenue A$42.4M (+15.2%) but a A$1.41M net loss against FY25's A$3.32M profit — because Australian revenue fell 14% to A$26.4M while Europe rose 137% to about A$16M.HQPerth, WARoleGrower · Manufacturer · DistributorGMPYesOwnsCannatrek · Health HouseEurope overtook Australia at the Q4 FY26 run-rate — management now calls it the primary growth driverCannatrekiCannatrekNow part of LGP · A$75.5M FY2025Vertically integrated cultivator and manufacturer, merged into Little Green Pharma in June 2026 after 96.15% shareholder approval. Reached an in-principle TGA agreement in May 2026 over historical advertising breaches; the civil penalty was sized into the merger economics with roughly A$6.5M of additional capital at completion.HQMelbourne, VICRoleGrower · ManufacturerStatusMerged into ASX:LGP, Jun 2026Turned an A$9M loss into A$3.2M NPAT on a 31% operating cost cut before the mergerANTGiAustralian Natural Therapeutics GroupPrivate · EU-GMP · export platformPremium cultivator built for export. Signed a UK supply partnership with Curaleaf in Nov 2025, routing product through Curaleaf's UK EU-GMP facility, and took A$1.38M of NSW Government investment in Dec 2025. The Brisbane facility acquisition quadruples capacity.HQByron Bay, NSWStaff76RoleGrower · ManufacturerGMPEU-GMPThe clearest test of whether EU-GMP accreditation converts Australian cultivation into an export businessECS BotanicsiECS BotanicsASX:ECS · A$19.4M FY2025Australia's only certified-organic cultivator, manufacturing to PIC/S GMP. Pivoting from B2B to B2C, now 71% of Q3 FY26 revenue, and inflected to profitability in H1 FY2026 after an A$2.8M FY2025 loss.HQMurrabit West, VICStaff31RoleGrowerGMPPIC/SA named industry voice pressing for imported product to be tested to Australian standardsCann GroupiCann GroupASX:CAN · A$4.5M H1 FY2026, −30%First Australian company to hold a cultivation licence. H1 FY2026 revenue fell 30% to A$4.5M on subdued prescriber activity during the TGA review — the clearest evidence anywhere that regulatory uncertainty alone suppresses demand. FY2025 net loss A$14.5M, improved 57% on a cost-out programme.HQBundoora, VICRoleGrower · ManufacturerGMPYesThe canary — its revenue line is the market's read-through on prescriber confidenceCannaponicsiCannaponicsPrivate · raising to finish GMPCleared its A$1.215M minimum from 579 investors on OnMarket in May 2026, targeting A$1.5–5M to fund commercial-scale cultivation and GMP completion on a 165-acre WA site with A$38M invested to date, a A$2M government grant and an approved 4MW solar farm.HQWestern AustraliaRoleGrowerGMPIn progressMedigrowthiMedigrowthPrivate · VictoriaLicensed cultivator and manufacturer supplying the SAS-B/AP channel.HQVictoriaRoleGrowerGMPPartialMedTEC PharmaiMedTEC PharmaPrivate · outdoor cultivationODC-licensed cultivator founded by a third-generation Riverland citrus grower, running an ultra-secure outdoor facility in the South Australian Riverland.HQRiverland, SARoleGrowerOne of very few outdoor grows in the licensed channelEastern HighlandsiEastern Highlands Cannabis (EHC)Private · VictoriaVictorian cultivator supplying the TGA-regulated channel.RoleGrowerAustrannaiAustrannaPrivate · ODC-licensedCultivator and manufacturer inside the TGA channel.RoleGrower · ManufacturerMedcan AustraliaiMedcan AustraliaSubsidiary · vertically integratedCultivator, manufacturer and distributor running the Medcan brand plus Greensaver Distribution and Dogg Lbs.RoleGrower · Distributor
Manufacturing & distribution
GMP manufacturers, importers and brands
BLS PharmaceuticalsiBLS Pharmaceuticals (formerly Bioxyne)ASX:BXN · A$65–75M FY26 guidanceGMP contract manufacturer and flower packer through Breathe Life Sciences (Brisbane) — the picks-and-shovels supplier to Australian brands. Renamed from Bioxyne and trading as BLS Pharmaceuticals since 24 June 2026 after a 1-for-10 consolidation. H1 FY26 revenue A$31.3M, adjusted EBITDA A$8.3M (+137%, 26.5% margin).HQSydney, NSWRoleManufacturer · DistributorGMPYesRenamedBioxyne → BLS, Jun 2026Signed its first LATAM supply deal (Remidose, Costa Rica) in May 2026 — 3 Dr Watson flower SKUsMontuiMontuPrivate · A$385M FY2025 revenueAustralia's dominant platform: Alternaleaf telehealth plus wholly owned distributor Leafio. Revenue scaled from A$103k in FY2020 to A$385M in FY2025 on roughly A$4M of external funding. After-tax profit A$16.4M, down 31% as patient acquisition costs and competition rose.HQEast Melbourne, VICStaff450RoleDistributor · ClinicFederal Court of Victoria hearing over alleged advertising breaches begins 22 Oct 2026 — 7 sitting daysVitura HealthiVitura HealthASX:VIT · A$124M FY2025 revenueVertically integrated digital health business running one of Australia's largest integrated cannabis ecosystems — clinic, telehealth and distribution — and rare in the sector for being GAAP-profitable.HQMelbourne, VICRoleDistributor · ClinicThe only listed operator at Montu's end of the marketHealth HouseiHealth HouseAcquired by LGP · A$1.25MImport, wholesale and distribution platform. Bought by Little Green Pharma for A$1.25M from Melodiol Global Health, completing June 2026 — a cut-price outcome for an asset Zelira had tried and failed to buy in 2022 and Creso/Melodiol held thereafter.HQPerth, WARoleDistributorStatusAcquired by ASX:LGP, Jun 2026The clearest single marker of distressed consolidation in Australian distributionAltheaiAlthea GroupASX:AGH · A$30.4M FY2024Melbourne-HQ distributor pivoting toward the US cannabis beverage market via Peak Processing. FY2024 carried an A$32M net loss through restructuring.HQMelbourne, VICRoleDistributorGMPYesNovachemiNovachemPrivate · GMP packager and wholesalerSpecialist pharmaceutical importer, GMP packager and distributor combining a ~59k-SKU lab-reagents catalogue with an ODC-approved medicinal cannabis wholesale arm.HQMelbourne, VICRoleDistributorProposed the ARCTG register with mandatory GMP by January 2027Epsilon HealthcareiEpsilon HealthcareASX:EPN · EU-GMP CDMOASX-listed CDMO with EU-GMP certified manufacturing across Australia and New Zealand, plus the Medleaf brand. Q4 FY2025 revenue A$5.99M, up 317.7% YoY.RoleManufacturer · CDMOGMPEU-GMPIDT AustraliaiIDT AustraliaASX:IDT · pharmaceutical CDMOPharmaceutical contract manufacturer with an EU-GMP/TGA-licensed facility and meaningful medical cannabis manufacturing exposure.RoleManufacturer · CDMOGMPEU-GMPCannimiCannimIn administrationMulti-country distributor and manufacturer. Creditors approved committees in May 2026 for Olvera Advisors' litigation-funding deal pursuing more than A$13M of recovery claims, including alleged insolvent trading, uncommercial transactions and unfair preferences.HQSydney, NSWRoleDistributorStatusAdministrationThe sector's largest failure to date — and the litigation is still runningAnspeciAnspecPrivate · specialty wholesaleSpecialty pharmaceutical and compounding wholesaler with a medical cannabis line, across Australia and NZ.RoleDistributorNamed in the industry push for imported product to be testedEntouraiEntouraPrivate · manufacturer and brandMid-tier manufacturer and brand inside the SAS-B/AP framework.RoleManufacturerGMPPartialCanngeaiCanngeaPrivate · manufacturerManufacturer and distributor operating inside the TGA channel.RoleManufacturerGMPPartialCannticiCannticPrivate · brandBrand and distributor inside the TGA channel.RoleDistributorECC PharmiECC PharmPrivate · distributorDistributor inside the Australian channel.RoleDistributorGMPPartial
Telemedicine & clinics
Where the prescriptions are written
AlternaleafiAlternaleafMontu subsidiary · >150,000 patients/yrAustralia's largest telehealth clinic by patient count and the leading site by tracked traffic (~331,900 visits, May 2026). Operates in Australia and the UK with a 120+ AHPRA-registered clinician network. CHOICE documented a 3.5-minute doctor consult in May 2026.HQMelbourne, VICRoleClinicTraffic331,912 visits, May 2026Named with Montu and founder Christopher Strauch in the Federal Court advertising case, from 22 Oct 2026UMedsiUMedsTelemedicine + pharmacySecond-largest Australian site by tracked traffic, pairing telehealth with pharmacy fulfilment — the vertically integrated model becoming the sector norm.RoleClinic · PharmacyTraffic186,783 visits, May 2026Candor MedicaliCandor MedicalTelemedicine clinicThird-largest Australian site by tracked traffic.RoleClinicTraffic154,550 visits, May 2026Doctors on DemandiDoctors on DemandTelemedicine clinicGeneral telehealth operator with a medical cannabis line; fourth by tracked traffic.RoleClinicTraffic138,620 visits, May 2026MyLeafiMyLeafTelemedicine clinicMid-tier telehealth clinic.RoleClinicTraffic70,706 visits, May 2026DispensediDispensedPharmacy · AU/UK/NZDispensing pharmacy operating across all three English-speaking markets Cannamonitor tracks; its Australian footprint is its largest.RolePharmacyTraffic53,289 visits, May 2026Fined A$118,800 across six TGA advertising infringement notices, Sep 2025Leaf DoctorsiLeaf DoctorsTelemedicine clinicMid-tier telehealth clinic.RoleClinicTraffic47,459 visits, May 2026Rays WellnessiRays WellnessPharmacy · clinic networkSpecialist clinic and pharmacy network inside the SAS-B/AP framework.RolePharmacyTraffic44,679 visits, May 2026easykindieasykindTelemedicine clinicTelehealth clinic.RoleClinicTraffic39,700 visits, May 2026Mood State MedicaliMood State MedicalDevice · first ARTG vapeSecured ARTG inclusion (ID 526764) for an ambulatory heated nebuliser in May 2026 — the first vape device admitted under the TGA's revised framework, in a market where almost everything else is supplied unapproved.RoleDevice · ClinicARTG526764The only cannabis-adjacent device to clear the ARTG under the new vaping ruleshonahleeihonahleePrice-comparison portalDemand-routing comparison portal rather than a clinic — a distinctively Australian layer above the clinics. Its flower price series is the longest-running public Australian retail benchmark.RolePortalTraffic74,236 visits, May 2026Source of the A$11.90 → A$5.00/g minimum-price seriesAura TherapeuticsiAura TherapeuticsPrivate · telemedicine and clinicSpecialist telemedicine-and-clinic operator under the Special Access Scheme.RoleClinic
Pharma & R&D
The registration pathway, such as it is
AvechoiAvecho BiotechnologyASX:AVE · Phase III · OTC CBDPharmaceutical R&D platform using proprietary TPM (Tocopheryl Phosphate Mixture) delivery to develop a CBD soft-gel. Its Phase III insomnia trial (n=244; 150mg, 75mg, placebo) passed interim analysis in July 2026 with a recommendation to continue. The prize is Australia's first over-the-counter CBD registration under the TGA's OTC pathway — a route that exists in almost no other market.HQMelbourne, VICRoleR&DLead assetTPM-enhanced CBD soft-gelRegistryNCT05840822Sandoz Australia licence: US$3M upfront, up to US$16M milestones, 14–19% royaltiesNexalisiNexalis Therapeutics (formerly InhaleRx)ASX:NX1 · Phase 1 completeCannabinoid drug-device developer. Completed Phase 1 dosing for IRX-616a — inhaled CBD for acute panic and anxiety episodes — in May 2026 with no serious adverse events, and is moving to Phase 2 planning. Pivoting toward a US FDA 505(b)(2) thesis.RoleR&DLead assetIRX-616a, inhaled CBDBod ScienceiBOD Science AustraliaASX:BDA · Phase IICannabinoid and natural-medicines R&D and manufacturing platform. Runs the Phase 2b CanRest insomnia trial and the MediCabilis CBD oil studied in ALS/MND.HQSydney, NSWRoleR&DArgent BioPharmaiArgent BioPharma (formerly MGC Pharmaceuticals)ASX:RGT · Phase IIDevelops CannEpil for refractory epilepsy and CogniCann for dementia behavioural symptoms — both full-spectrum botanicals also supplied through special-access schemes.RoleManufacturer · R&DGMPYesZeliraiZelira TherapeuticsPhase II · multi-assetPerth-based developer behind Zenivol (ZTL-101, insomnia, randomised crossover published), ZTL-106 (chronic pain after musculoskeletal injury) and the HOPE autism programme.HQPerth, WARoleR&DEmyriaiEmyriaPhase III · suspendedDeveloper of EMD-RX5, an ultra-pure oral CBD. The pivotal Phase 3 for psychological distress in chronic pain is currently suspended; the Phase 1 PK study against Epidyolex completed.RoleR&DRegistryACTRN12622001319763StatusTrial suspendedThe clearest example of late-stage attrition in the Australian pipelineIncannexiIncannex HealthcarePhase III · sleep apnoeaDeveloper of IHL-42X, a dronabinol and acetazolamide fixed-dose combination for obstructive sleep apnoea, and IHL-675A, a CBD and hydroxychloroquine combination for inflammatory conditions.RoleR&DLead assetIHL-42XAustralia's most advanced cannabinoid combination assetNeurotechiNeurotech InternationalPhase III · paediatric neuroDevelops NTI164, a broad-spectrum extract with roughly 0.08% THC, across autism spectrum disorder, Rett syndrome and PANS/PANDAS.RoleR&DLead assetNTI164Australia's broadest paediatric cannabinoid programmeMedlab ClinicaliMedlab ClinicalPhase III · oncology painSydney developer of NanaBis, a 1:1 THC:CBD oro-buccal spray reformulated to fully synthetic cannabinoids, in Phase III for cancer-induced bone pain.HQSydney, NSWRoleR&DRegistryNCT04808531ElixinoliElixinol WellnessASX:EXL · A$16.5M FY2025Small-cap CBD and hemp-derived wellness company selling tinctures, capsules, gummies and topicals, primarily into US direct-to-consumer channels.RoleManufacturerMater ResearchiMater ResearchAcademic R&DResearch institute running investigator-led cannabinoid studies.RoleR&D
This is a selected view, not the full set.
• Science
A broad pipeline, and almost nothing registered.
1
24 Australian-linked investigational products
Unusually broad for the market’s size — insomnia, chronic pain, paediatric neurology, sleep apnoea and oncology support.
2
Five have reached Phase III
But one is suspended and one discontinued. Late-stage attrition is the pipeline’s defining feature.
3
One prize is uniquely Australian
Avecho’s Phase III passed interim analysis in July 2026, chasing the TGA’s over-the-counter CBD pathway — a route that exists almost nowhere else.
5
Phase III
13
Phase II
3
Phase I
3
RWE / undocumented
☾
Sleep & insomnia
4 programmes
The most crowded Australian indication
Avecho TPM-CBDiTPM-enhanced cannabidiol capsuleAvecho · Phase IIIPivotal Phase III pharmaceutical CBD capsule for insomnia, using the TPM drug-delivery platform. A Sandoz Australia licensing deal is referenced in public disclosures.IndicationInsomniaClassCBD isolateRouteOralStatusIn clinical trialsZenivoliZenivol (ZTL-101)Zelira Therapeutics · Phase IIRandomised crossover study in chronic insomnia, published. Full-spectrum oromucosal formulation.IndicationChronic insomniaClassFull-spectrumRouteOromucosalCanRestiCanRest CBDBod Science · Phase IIPhase 2b CBD formulation trial in insomnia — part of Australia's proprietary-product trial cluster.IndicationInsomniaClassCBD isolateRouteOralIHL-42XiIHL-42X (dronabinol + acetazolamide)Incannex · Phase IIIFixed-dose combination including dronabinol for obstructive sleep apnoea, running in the US and Australia.IndicationObstructive sleep apnoeaClassTHC isolate (dronabinol)RouteOralAustralia's most advanced cannabinoid combination asset
✚
Pain & oncology
6 programmes
Where the commercial market already sits
NanaBisiNanaBis (oro-buccal THC:CBD)Medlab Clinical · Phase IIIPhase III monotherapy in cancer-induced bone pain. 1:1 THC:CBD oro-buccal spray, reformulated to fully synthetic cannabinoids.IndicationCancer-induced bone painRegistryNCT04808531RouteOromucosalThe only Australian Phase III in oncology-supportive careEMD-RX5iEMD-RX5 (ultra-pure CBD)Emyria · Phase III — suspendedPivotal Phase 3 for psychological distress in chronic pain is currently suspended; the Phase 1 PK study versus Epidyolex completed. Previously positioned as Phase 3-ready for TGA and FDA registration.IndicationPsychological distress in chronic painRegistryACTRN12622001319763StatusSUSPENDEDThe clearest example of late-stage attrition in the Australian pipelineLGP Classic 10:10iLGP Classic 10:10Little Green Pharma · real-world evidenceBalanced full-spectrum oil (10mg/mL THC : 10mg/mL CBD) studied in the QUEST initiative — one of the largest real-world chronic-pain and fibromyalgia programmes in Australia.IndicationChronic pain; fibromyalgiaDesignReal-world / interventionalZTL-106iZTL-106 (THC:CBD oral oil)Zelira Therapeutics · Phase IIPhase 2a randomised, double-blind, placebo-controlled study in chronic pain following knee or hip injury. 1:1 THC:CBD in MCT oil with a proprietary terpene blend.IndicationMusculoskeletal chronic painRegistryANZCTR 383368RouteOralACNV201/202iACNV201 / ACNV202 capsulesDosaCann / Neuren · Phase IIStandardised hard-shell THC:CBD capsules studied in chronic pain and diabetic peripheral neuropathy.IndicationChronic pain; diabetic neuropathyRouteOralXativaiXativa (sublingual CBD wafer)iX Biopharma · Phase IISublingual CBD wafer on the WaferiX platform, with pharmacokinetic and chronic-pain data.IndicationChronic pain; PKRouteSublingual
◍
Neurology & paediatrics
6 programmes
The registration-grade end of the pipeline
NTI164iNTI164Neurotech · Phase IIIBroad-spectrum extract with extremely low THC (~0.08%), progressing across paediatric neurodevelopmental indications — autism spectrum disorder, Rett syndrome and PANS/PANDAS.IndicationPaediatric neurodevelopmental disordersClassFull-spectrum, ~0.08% THCRouteOralAustralia's broadest paediatric cannabinoid programmeCannEpiliCannEpilArgent BioPharma · Phase IIHigh-CBD, low-THC full-spectrum botanical in drug-resistant epilepsy, also distributed via special-access schemes.IndicationRefractory epilepsyClassCBD-dominantRouteOralCogniCanniCogniCannArgent BioPharma · Phase IITHC:CBD (~3:2) oromucosal spray studied with the University of Notre Dame Australia in the behavioural symptoms of dementia.IndicationDementia / Alzheimer'sRouteOromucosalHOPEiHOPE (Zelira autism programme)Zelira · developmentCBD-rich botanical line for autism spectrum disorder, marketed in some unregistered-access channels while clinical evidence is built. Trial stage not clearly documented.IndicationAutism spectrum disorderClassCBD-dominantMediCabilisiMediCabilis (CBD 5% oil)Bod Science · Phase II50mg/mL CBD with under 2mg/mL THC, studied in an ALS/MND randomised controlled trial at Gold Coast Health.IndicationALS / motor neurone diseaseRouteOralSatipharm GelPelliSatipharm GelPell CBD beadlets (PTL101)MMJ Group · Phase IIGelPell CBD beadlet capsule studied in epilepsy, originating with PhytoTech Therapeutics.IndicationEpilepsyRouteOral
✷
Inflammation, metabolic & other
5 programmes
Combination and repurposing plays
IHL-675AiIHL-675A (CBD + hydroxychloroquine)Incannex · Phase IFixed-dose combination of CBD and hydroxychloroquine for inflammatory conditions, with rheumatoid arthritis as the lead indication. Phase 1 completed in Australia.IndicationInflammatory conditionsRouteOralAtorvo+iAtorvo+Phase IFixed-dose atorvastatin plus CBD aimed at improving statin tolerability and cardiovascular outcomes. First patent granted; Phase 1 open-label PK study in 24 healthy adults completed June 2026 in Melbourne.IndicationStatin tolerabilityRouteOralFirst patent grantedAnanda Hemp extractiAnanda Hemp full-spectrum extractEcofibre · Phase IIFull-spectrum hemp extract studied in hand osteoarthritis and rheumatoid arthritis.IndicationOsteoarthritis; rheumatoid arthritisRouteOralKalytera CBDiKalytera CBD (oral cannabidiol)Kalytera Therapeutics · Phase IIOral cannabidiol for prevention of acute graft-versus-host disease after stem-cell transplant, with trial sites in Israel and Australia.IndicationAcute GVHD preventionRouteOralS1-221iS1-221Phase IDefined CBD:THC:CBN oral oil in a Phase I single-dose safety study in healthy participants.IndicationEarly phase, healthy volunteersRouteOral
Two Australian-linked programmes are recorded as discontinued: Zygel (ZYN002) in Fragile X syndrome, which missed its primary endpoint, and Botanix’s BTX-1503/1308 dermatology line.
The data behind this page
This page is a summary. Decide is the source.
Everything above is one market, drawn from seven data layers. In Decide, those same layers cover 120+ markets — and they cross-link, so a company links to its deals, its earnings, its country and the news that moves it. Click any layer to see inside it.
Every layer cross-links — an operator links to its deals, its earnings, its country and the news that moves it. Choose a layer below to see inside it.
Layer 01 · Australia profile
Countries
Every market on one page — volume, patients, imports, sources and every linked asset, so the country view is the entry point to everything else.
Layer 02 · 6 live Australian series
Market datasets
Six Australian datasets kept on the source cadence: TGA supply by dosage form, ODC imports and exports, domestic production and stock, telemedicine platform traffic, landed-price corridors, and the regulatory tracker.
Layer 03 · 48 Australian operators
Companies
Cultivators, manufacturers and distributors, telemedicine clinics and pharma R&D — 48 operators across four groups, cross-linked to their deals, earnings, facilities and the news that moves them.
Layer 04 · M&A · earnings · trials
Trackers
Three filtered views of one graph: M&A and funding, earnings and financials, and science and clinical trials — 21 Australian investigational programmes across four indication clusters.
Layer 05 · TGA · ODC · AHPRA
News & Regulatory
Regulator releases, consultations and enforcement actions — TGA, ODC, AHPRA and the DVA, alongside the Australian trade press, tracked and filterable by country, company and theme.
Layer 06 · 6 Australian datapacks
Insights
The analyst library: the Australia Market Datapack, the potency-cap debate, the 2025 contraction and the telemedicine panel — analysis with the working shown.
Layer 07 · Australia’s month
The Monthly Brief
The recap layer that sits on top of all of the above: what changed, ranked by consequence.
• How we build it
Why these numbers hold up.
Our Australia medical cannabis market data isn’t estimated — we consolidate it from primary records. This page is built from 7,405 sponsor-reported product lines across nine half-year TGA releases, reconciled line by line against the source workbook, plus ODC trade and production figures and Statistics Canada export records.
1Primary sources
Official records first — TGA FOI 26-3221 (sponsor six-monthly supply returns), Office of Drug Control (imports, exports, production, stock) and Statistics Canada customs (HS 1211.90.10). Where no official series exists — telemedicine traffic, retail and wholesale pricing — the numbers are Cannamonitor’s own compilation from primary sources. Compiled, not modelled.
2Cross-validation
Each layer is checked against the others. The 28.6% fall in units is confirmed by a 29% fall in dried-flower tonnage — a pack-size effect would have moved one and not the other. Potency is parsed independently of the reported category and reconciled against pack size. All 7,405 product lines match the source workbook one-to-one on sheet and row.
3We correct our own record
The TGA’s own category field says Category 5 (THC >98%) fell from 86.6% to 79.6% of units in H2 2025. Our parsed potency series says high-THC flower held better than any other band. The category field is the one that is wrong — sponsors paste the category definition into the profile field instead of the measured content. We publish the measured series and say so.
7,405
product lines
9
half-year periods
97–99%
potency coverage
Primary
TGA · ODC · customs
120+
markets in Decide
Sources: Therapeutic Goods Administration FOI 26-3221 (sponsor supply, H2 2021 – H2 2025, 7,405 product lines) · Office of Drug Control (imports, exports, domestic production and closing stock, calendar years) · Statistics Canada customs, HS 1211.90.10 (corridor pricing, H1 2025 – H1 2026) · AHPRA and TGA regulatory records · Cannamonitor compilation for telemedicine traffic and retail pricing · Cannamonitor Investigational Products database · Cannamonitor Australian Operator Map. Where our figures differ from other published numbers we say why: the TGA cites 6.59M units in the latest year against our 6.36M for calendar 2025 (different windows); Canada’s 80% import share is the 2024 position, not 2025’s 61%; and imports are ~59% of new supply on 2025 figures, not the commonly repeated two-thirds.
Method and limits. TGA figures are units supplied by sponsors under SAS and Authorised Prescriber pathways — not patients, prescriptions or pharmacy sell-through. ODC trade and production figures are calendar years; TGA supply is half-years. Potency is parsed from sponsor label claims, not independent assays, at 97–99% coverage of flower units. Flower tonnage before 2023 is omitted because pack-size coverage is too thin. Telemedicine traffic is a SimilarWeb estimate (±10–15%) for a single month and is a demand proxy, not patients or revenue. Landed prices are declared invoice values and should be read as directional signals.
• Free datapack
The Australia Market Datapack.
Eight pages: trade and production, landed cost, demand by format, and a page each on flower, oils, vapes and pastilles — with the physical volume series that isn’t public anywhere. Free, for a work email.
One email with the datapack attached — no drip sequence. We store your details to send it and to keep you on the Cannamonitor list; unsubscribe any time.
• Objections
Common questions.
Is this dispensing data?
No. The TGA series counts units supplied by sponsors under the Special Access Scheme and Authorised Prescriber pathways, self-reported in mandatory six-monthly returns. It is not patients, not prescriptions and not pharmacy sell-through. We say 'supplied' throughout for that reason.
Did the Australian market really shrink?
Yes, and it shows in physical volume as well as unit counts. Units fell 28.6% in H2 2025 and dried flower tonnage fell about 29% over the same half. A pack-size effect would have moved one and not the other.
Could late sponsor reports revise the contraction away?
Partly. The FOI reflects reports received by the release date, so H2 2025 could be restated upward. The scale of the fall — more than a quarter, across every format except pastilles — is larger than any restatement we have seen in this series.
Why is Thai flower suddenly a quarter of imports?
Australia accepts CUMCS-certified material, not only EU-GMP, so the eligible supply pool is wider than in Germany. Thailand went from 1.1 t to 20.7 t in one year, against Canada's fall from 62.1 t to 49.1 t.
What is the difference between SAS and AP?
Both are pathways for supplying unapproved products. SAS approvals are granted per patient; Authorised Prescriber status lets a practitioner supply a class of patients without individual approvals. SAS carried 62.5% of units in H2 2021 and 11.4% in H2 2025.
Where does the potency data come from?
We parse THC and CBD from sponsor-reported product names and cannabinoid profiles across all 7,405 product lines, with 97–99% coverage of flower units in every period. These are label claims, not independent assays — but they are the only public record of the potency of what was actually supplied in any major market.
Is Australian flower cheap by international standards?
It is the cheapest of any major import market. The same Canadian flower lands in Germany at roughly 2.2× the Australian price, because Australia accepts a wider range of certifications and because roughly a year of demand is already sitting in domestic inventory.
How much cannabis does Australia actually grow?
55.3 tonnes of flower in 2025, up 30% year on year — the strongest cultivation year on record. Roughly 12% of it was exported.