Acumen Research and Consulting, a global provider of market research studies, recently added a forthcoming report titled “Cannabis Pharmaceutical Market – Global Industry Analysis, Market Size, Opportunities and Forecast 2021 – 2030” gives insights about the rapidly progressing Cannabis Pharma Market
LOS ANGELES, April 13, 2021 (GLOBE NEWSWIRE) — The rapidly progressing transformation of cannabis from herbal preparations to prescription drugs is contributing to the market growth.
The increasing use of cannabis-based pharmaceuticals for multiple indications including chronic pain, epilepsy, inflammation, sleep disorders, schizophrenia, anorexia, and symptoms of multiple sclerosis is driving the market growth. Additionally, some of the pharmaceutical drugs based on cannabis include Sativex (GW Pharmaceuticals), Epidiolex, Dronabinol/Marinol (Unimed Pharmaceuticals), Nabilone/Cesamet (Valeant Pharmaceuticals International), Dexanabinol (Solvay Pharmaceuticals), CT-3 (ajulemic acid) (Indevus Pharmaceuticals), Cannabinor (formerly PRS-211,375) (Pharmos), HU 308 (Pharmos), HU 331(Cayman Chemical), Rimonabant/Acomplia (Sanofi-Aventis), and Taranabant / MK-0364 (Merck).
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The global cannabis pharmaceutical market is segmented on the basis of product type, application, distribution channel, and geography. Based on product type, the market is segmented on the basis of solids, dissolvable/powders, oil, and ointments & creams. The cannabis pharmaceuticals find application across cancer, arthritis, migraine, epilepsy, and others. Based on the distribution channel, the market is bifurcated into hospital pharmacies, online pharmacies, and retail pharmacies. Based on geography, the market is bifurcated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The aforementioned regions are also further bifurcated into major countries of the respective region
Ointments or creams
Medicated ointment or balms work by consolidating cannabis with other skin-soothening ingredients, which is scoured into your skin to help soothe muscle torment. There are many ointments that are accessible in different flavors like cedar wood and orange, or lavender and bergamot. They utilize a blend of molding fixings and cannabis concentrate to relieve both dry skin and muscle hurts.
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Market By Product: Oil
CBD is removed from marijuana plants as either an oil or powder. These can be blended into creams or gels. They can be placed into capsules and taken orally, or scoured on your skin. The numerous sclerosis drug nabiximols is showered as a fluid into your mouth. How CBD ought to be utilized relies to a great extent upon what it’s being utilized for. Unlike with PCP prior to utilizing CBD oil. It hasn’t been affirmed by the U.S. Food and Drug Administration (FDA) for any clinical uses, and it can have results.
Market By Product: Dissolvable powders
Dissolvable cannabinoid powders have an unending number of uses, making it perhaps the most adaptable cannabis-imbued items accessible available today. Given their water dissolvability and the way that they are completely enacted, they become more bioavailable when devoured. This implies that buyers will encounter the impacts quicker, longer, and all the more effectively.
Market By Product: Solid
CBD isolate is a translucent solid or powder involving unadulterated CBD. It is not quite the same as full-range CBD items, which can legitimately contain up to 0.3%Trusted Source THC. This amount may appear on a medication test; however, it won’t cause a high.
To deliver CBD solid, makers utilize different cycles to extricate every one of the mixtures and different substances from the cannabis plant, including THC. The process leaves unadulterated CBD in crystal form.
Manufacturers may then granulate the crystals into a powder to make the item simpler to devour. CBD separate doesn’t have a particular smell or taste.
Segment Analysis by Region
North America held the major share (%) of the cannabis pharmaceuticals market. The rising prevalence of diseases like Alzheimer’s disease and cancer is supporting regional market growth. The presence of major players in the region is further bolstering the regional market value. The major economies of the region including US and Canada are major contributors to the regional market value. The region is followed by Europe due to rising awareness about cannabidiol infused products in the region. Furthermore, Asia Pacific is projected to experience the fastest growth throughout the forecast period from 2020 to 2027. The increasing awareness about the medical benefits of cannabis, including its healing properties is propelling its demand in the Asia Pacific region. Many of the Asian countries are softening their perception towards cannabis is the positive factor projected to increase the market opportunities over the forecast period in the region.
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Some of the leading competitors are Abbott Laboratories (Solvay Pharmaceuticals) (US), AbbVie Inc.(US), Cardiol Therapeutics (Canada), Cayman Chemical (US), Cure Pharmaceutical (US), GW Pharmaceuticals (UK), Indevus Pharmaceuticals (US), Insys Therapeutics, Inc. (US), Merck (Germany), Pharmos (US), Sanofi-Aventis, Solvay Pharmaceuticals (Abbott) (US), Tilray (Canada), Unimed Pharmaceuticals, Bausch Health (formerly Valeant Pharmaceuticals (Canada), and Zynerba Pharmaceuticals, Inc (US). Cannabis Pharmaceuticals companies have announced mergers and acquisitions, partnerships and collaborations, and new product development to expand their position in the Cannabis Pharmaceuticals industry. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage.
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