Encouraged by the positive reception of its first medical cannabis product in Australia, Danish company Stenocare is gearing up to introduce another innovative product to the Australian market. Founded in 2017, Stenocare has been a pioneer in the medical cannabis sector, becoming the first Danish company to receive all necessary permits for cultivating, importing, and trading medical cannabis oils under Denmark’s pilot program.

The company’s foray into the Australian market began in the second half of 2022 with its balanced 12.5-12.5 oil product, containing equal parts of THC (tetrahydrocannabinol) and CBD (cannabidiol). This product has seen a remarkable sales performance, surpassing expectations and paving the way for the introduction of their second product, a balanced 25-25 oil, expected to be available in the first quarter of 2024.

Stenocare’s CEO, Thomas Skovlund Schnegelsberg, highlights the company’s commitment to scaling their business and catering to a broader range of patient needs with this new product. Australia, with a market value of USD $51 million in 2021 and expected to grow to USD $540 million by 2030, is seen as a major player in the global medical cannabis market, comparable to Europe’s largest market, Germany.

With its expanding product line and strategic market positioning, Stenocare is poised to make significant strides in the medical cannabis industry, both in Australia and globally. For more detailed information, visit the original article on Hemp Gazette.