In the United States, Food and Drug Administration approved the CBD drug Epidiolex for treatment of two epilepsy disorders. Also, The U.S. Drug Enforcement Administration (DEA) has assigned Epidiolex a Schedule V classification as well as non-Epidiolex CBD remains a Schedule I drug prohibited for any usage. In 2018, the World Health Organization recommended that CBD remain unscheduled. CBD is not scheduled under any United Nations drug control treaties.
According to the report, Increasing Legalization of Cannabis-Based Products
is one of the primary growth factors for the market. Growing Awareness Regarding Health benefits of CBD oil
is also expected to contribute significantly to the Cannabidiol market. Overall, Medical
applications of Cannabidiol, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Disease Indication, such as Anxiety, is boosting the Cannabidiol market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Cannabidiol market identified that the demand is rising in many different parts of the world as "Emerging Markets and The advent of advanced cultivation processes
". Furthermore, some recent industry insights like "On 21 Jan. 2019, Canopy Growth Corporation has announced the expansion of its business in the European regions such as the United Kingdom and Poland where its medically-focused business Spectrum Cannabis continues to build a sophisticated, pan-European cannabis production as well as distribution network serving the needs of physicians and their patients throughout the continent." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Cannabidiol market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Cannabidiol market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.