Asia’s Growing Interest in Cannabis: A New Frontier in Medical Science

Asia, a region known for its stringent drug laws, is gradually warming up to the potential benefits of cannabis, particularly for medical applications. Countries like South Korea, Japan, and Malaysia are leading the way in this shift, paving the way for the legalization of medical cannabinoids. This article explores the changing landscape of cannabis in Asia, the driving forces behind this shift, and the potential implications for the regional market.

South Korea: A Pioneer in Medical Cannabis

South Korea made headlines in 2018 when it became the first East Asian country to legalize medical cannabis. The move was seen as a significant shift in a region known for its strict drug policies. The law allows for the import and distribution of certain cannabis-based drugs for patients with conditions like epilepsy, HIV/AIDS, and cancer, provided they have a prescription from a doctor.

Japan: Following in Korea’s Footsteps

Japan, another country known for its strict drug laws, has also shown signs of softening its stance on cannabis. In 2020, the country approved a draft law similar to Korea’s, allowing certain pharmaceutically derived medical cannabinoid medicines while bolstering criminal penalties for unauthorized use. This move is seen as a significant step towards the acceptance of medical cannabis in Japan.

Malaysia: On the Verge of a Breakthrough

Malaysia, a country where drug trafficking can carry the death penalty, is also considering legalizing medical cannabis. In 2018, a case involving a man who was sentenced to death for distributing cannabis oil to patients sparked a national debate on the issue. Since then, the government has been conducting research into the potential benefits of medical cannabis, signaling a potential shift in policy.

The Driving Forces Behind the Shift

Several factors are driving this shift in policy across Asia. These include:

• The global trend towards the legalization of cannabis, particularly in North America and Europe.
• The potential economic benefits of a legal cannabis industry, including job creation and tax revenue.
• The growing body of research supporting the medical benefits of cannabis, particularly for conditions like epilepsy, chronic pain, and multiple sclerosis.

The Potential Market for Cannabis in Asia

The potential market for cannabis in Asia is vast. According to a report by Prohibition Partners, the Asian medical cannabis market could be worth up to $5.8 billion by 2024. This growth is expected to be driven by medical uses, with potential expansion into recreational uses in the future.

Conclusion

While the shift towards the acceptance of medical cannabis in Asia is still in its early stages, the potential implications are significant. As more countries in the region begin to recognize the potential benefits of cannabis, both for medical applications and for the economy, the market for cannabis in Asia is expected to grow exponentially. However, it is crucial that this growth is accompanied by robust regulation and education to ensure that cannabis is used responsibly and safely.

By C.N.W

Keywords: Asia, Cannabis, Medical Cannabis, South Korea, Japan, Malaysia, Legalization, Cannabinoids, Market Growth

Sources:

• Prohibition Partners. (2019). The Asian Cannabis Report.
• Reuters. (2018). South Korea becomes first East Asian country to legalize medical marijuana.
• The Japan Times. (2020). Japan approves draft revision of law to allow cannabis-derived drugs.
• The Star. (2018). Malaysia mulling over medical marijuana legalization.