Cannabis industry: regulation and commercialization in Latin America

Introduction

The growth of the consumer market and the regulatory advances of Cannabis worldwide, predict an attractive opportunity for the pharmaceutical industry in the use and commercialization of this substance that will be latent in the coming years.

In 2022 alone, the Cannabis market is estimated to reach a value of $45 billion, according to "The Global Cannabis Report 3rd Edition" published by Prohibition Partners, an industry consultancy.

On the other hand, it is worth noting that several Latin American countries are currently legislating in relation to this industry in order to make its regulation more flexible, allowing various commercial activities, as well as its use not only for medicinal and scientific purposes, but also for recreational purposes.

In response to this important disruption of the global market, the law firm ECIJA presents this report in order to provide information on the regulatory framework applicable to the Cannabis industry in Argentina, Chile, Costa Rica, Ecuador, El Salvador, Spain, Guatemala, Honduras, Mexico, Panama and Dominican Republic. To this end, information will be provided on which products are regulated, what uses and activities are permitted and prohibited, what requirements exist in relation to their commercialization and advertising, as well as what judicial decisions have been issued in each of these countries.

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