Cannabinoid Derived Pharmaceutical Market | Rising Demand for Cannabinoid Extracts and Isolates
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The newly published report titled "Global Cannabinoid Derived Pharmaceutical Market – By Trends, Industry Competition Analysis, Pipeline Analysis, COVID-19 Analysis, Revenue (US$ Millions) and Forecast Till 2030." features detailed industry analysis and an extensive clinical trial/pipeline study on the market, exploring its significant factors.
According to the latest pharmaceutical market research report by InsightAce Analytic, the global cannabinoid-derived pharmaceutical market size was valued at US$ 884.3 Million in 2021, and it is expected to reach US$ 4238.0 Million in 2030, record a promising CAGR of 18.9% from 2022 to 2030.
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Cannabinoids or medical marijuana are widely accessed medicinal compounds derived from the cannabis plant of the Cannabaceae family. The interest in the cannabis plant and its derived products has increased considerably in the last few years. Due to the pharmacological potential of cannabis, it has applications in the treatment of various diseases and conditions, including diabetes, cancer, epilepsy, chronic pain, depression, glaucoma, arthritis, neurological disorders, and others. It is safer and has less severe side effects than other treatment options, and it also can combat adverse side effects. Hence, cannabis is approved for medical use in many countries, with varying legal limitations.
The growing therapeutic applications of cannabinoids in human medicine, surging use and acceptance of CBD in numerous countries, and the rising consumer preference for cannabis-derived products are projected to propel the cannabinoid-derived pharmaceutical industry over the forecast period. The market is further driven by the increasing CBD-related clinical research activities, ongoing clinical trials of cannabis-based drugs, growing awareness about the medical benefits of plant-derived cannabidiol products, and the commercialization of cannabis-based indications. However, the manufacturing inefficiencies and the legal restrictions on cannabinoid-derived products in various countries may impede the CBD products demand in the upcoming years.
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?The prominent players in the cannabinoid derived pharmaceutical industry include:
Cara Therapeutics, Inc., Arena Pharmaceuticals, Cannabics Pharmaceuticals Inc., Echo Pharmaceuticals, GW Pharmaceuticals, InMed Pharmaceuticals, INSYS Therapeutics, Inc., LaraPharm, MGC Pharmaceuticals, Ltd., One World Cannabis, Orpheus Medica, Receptor Life Sciences, RespireRx Pharmaceuticals, Tetra Bio-Pharma, Cardiol Therapeutics, United cannabis Corporation, Zynerba Pharmaceuticals, Zynerba Pharmaceuticals, LaraPharmand Other Prominent Players.
Upsurging clinical studies on the CBD to determine its effectiveness for various conditions create an opportunity for pharmaceutical companies to add another portfolio of treatments to their current pipelines.
Key Industry Developments from Leading Players:
Cannabinoid Derived Pharmaceutical Market Regional Analysis:
North America is anticipated to lead the cannabinoid-derived pharmaceutical market over the projected period (2022 to 2030). The major drivers of market expansion are the updated legalization of cannabis in North America for medical use and the increased adoption of CBD-based products for treating various medical conditions in this region. Recent legislation of cannabis allowing the use of cannabinoids products in more than 23 U.S states has compelled manufacturers' interest in innovating pharmaceutical-derived cannabis products to treat several clinical conditions.
Europe is predicted to hold the highest market share during the forecast years, followed by the Asia Pacific. The growing usage of the cannabis plant and its derived products and the increasing awareness about the benefits of CBD products boosts the market demand in this region. For instance, in October 2020, STADA, the largest pharmaceutical company in Europe, partnered with Medipharm. Under this partnership, Medipharm supplies GMP-certified medical cannabis for STADA, market-derived products in Germany and other European countries.
Furthermore, factors such as the increasing government funding for clinical research and the legalization of cannabidiol-derived products are estimated to contribute to market growth in the Asia Pacific region.
The Global Cannabinoid Derived Pharmaceutical Market Segments
The Global Cannabinoid Derived Pharmaceutical Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Product
The Global Cannabinoid Derived Pharmaceutical Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Molecule Type
·????????Cannabinoid Receptor Type 1 (CB1)
·????????Cannabinoid Receptor Type 2 (CB2)
·????????Others
The Global Cannabinoid Derived Pharmaceutical Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Disease Indication
·????????Alzheimer's Disease
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·????????Autism
·????????Cancer
·????????Chronic Pain
·????????Epilepsy
·????????Migraine
·????????Multiple Sclerosis
·????????Schizophrenia
·????????Others
The Global Cannabinoid Derived Pharmaceutical Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Region
North America Cannabinoid Derived Pharmaceutical Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
Europe Cannabinoid Derived Pharmaceutical Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
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Thank you One World Cannabis for reposting InsightAce Analytic Pvt. Ltd. Cannabinoid Derived Pharmaceutical Market research report update.