Cannabinoid Therapy Market Business Analysis, Scope, Size, Share, Growth, Trends, Demand, Overview, Forecast to 2027

Posted on 2021-05-03 by Future Market Insights, Inc in Healthcare, Sports // 0 Comments

A cannabinoid is a class of chemical compounds that change the neurotransmitter release in the brain by acting on cannabinoid receptors in the cells. Cannabinoids are derived from plants and are also referred to as the phytocannabinoids.

Majority of the cannabinoids available for cannabinoid therapy are cannabis-driven, but there are several different plants from which cannabinoids can be derived as well. Approximately 70 plant compounds are identified for cannabinoids. Majority of these cannabinoids exhibit pharmacological activity and also at times, psychoactive effects.

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According to the study by Mechoulam and Hanus (2000), delta-9-tetrahydrocannabinol is the most intensively researched cannabinoid and exhibits the greatest psychoactivity among all the available cannabinoids. Cannabinoid therapy includes the use of these chemical compounds for various cancer cases, neuropathic disorders, spasticity conditions and is used for sedation as well.

Legalization of the consumption of cannabis has increased the production and research related to cannabinoids. In the U.S., the District of Columbia and nine other states permit the use of recreational marijuana. Canada legalized the consumption of recreational marijuana in 2018. Cannabinoid therapy is being extensively used for sedation and treating nausea conditions in unfavorable environment.

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Cannabinoid Therapy Market: Drivers

The growing popularity of cannabis among the youth and legalization of recreational cannabis globally are the major factors responsible for driving the cannabinoid therapy market. Increasing incidences of multiple sclerosis spasticity, anorexia nervosa related to HIV/AIDS, nausea, and cancer are also contributing to the demand for cannabinoid therapy during the forecast period. The first FDA-approved cannabis drug has been launched and several cannabinoid therapies are on the receiving end of FDA approval. This factor might also drive the cannabinoid therapy market during the forecast period.

Legal issues and cannabis-related abuse might hinder the market growth of cannabinoid therapy. Certain side effects related to the use of cannabinoids like, hallucinations, lung problems, impaired mental functioning, blood pressure problems, etc. might also hinder the market for cannabinoid therapy during the forecast period.

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Cannabinoid Therapy Market: Segmentation

Tentatively, the global cannabinoid therapy market can be segmented on the basis of Cephalometric X-ray type, technology, product type, end users, and geography.

Based on therapy type, the global cannabinoid therapy market is segmented as:

Tetrahydrocannabinol (THC)
Cannabidiol (CBD)
Cannabinol (CBN)
Others

Based on product type, the global cannabinoid therapy market is segmented as:

Oils
Capsules
Isolates
E-liquids
Topicals
Others

Based on applications, the global cannabinoid therapy market is segmented as:

Cannabinoid therapy for cancer
Cannabinoid therapy for spasticity
Cannabinoid therapy for neuropathic disorders
Others

Based on end users, the global cannabinoid therapy market is segmented as:

Hospitals
Cancer Centers
Military Healthcare Settings
Rehabilitation Centers
Others

Based on geography, the global cannabinoid therapy market is segmented as:

North America
Latin America
Europe
Japan
CIS & Russia
APEJ
Middle East & Africa

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Cannabinoid Therapy Market: Overview

Epidiolex, which is manufactured by the United Kingdom-based company called GW Pharmaceuticals is the first ever marijuana-based medication that got approved by the US FDA (Food and Drug Administration) and has become available for sale in all the 50 states in 2018.

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