What is Cannabinoid Drugs Market?
Cannabinoids drugs are drugs that share active agents found in Cannabis (Marijuana) or were synthetically developed from those drugs. The cannabis plant produces between 80 and 100 cannabinoids and about 300 non-cannabinoid chemicals. The cannabinoid derived from hemp plants are legal and can be found in many markets. The use of cannabinoid drugs is currently legal for medical purposes in 30 states and the District of Columbia. The physicians are increasingly prescribing these drugs for medical reasons such as relieving pain in cancer patients.
The market study is being classified by Type (Phytocannabinoids, Endocannabinoids and Synthetics), by Application (Chronic Diseases, Anxiety, Nausea and Others) and major geographies with country level break-up.
Echo Pharmaceuticals B.V. (Netherlands), Mandara Pharma (Canada), GW Pharmaceuticals, plc (United Kingdom), Nexien BioPharma (United States), BOL Pharma (Israel), CURE Pharmaceutical Holding Corp. (United States), RAMM Pharma (Canada), Greenwich Biosciences, Inc. (United States), UNIVO Pharmaceuticals (Israel), InMed Pharmaceuticals (Canada) and Abbott Laboratories (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Ilesol Pharmaceuticals d.o.o. (Croatia), Valeant Pharmaceuticals International (Canada) and Indevus Pharmaceuticals Inc. (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Cannabinoid Drugs market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Cannabinoid Drugs market by Type, Application and Region.
On the basis of geography, the market of Cannabinoid Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Prevalence of Chronic Diseases
- Increased Legalization of Cannabinoid
- Increased Research and Development Activities on Cannabinoid Drugs Applications
- Side Effects of the Cannabinoid Drugs
- Limited Applications of Cannabinoid Drugs
- Huge Investment by Major Players
- Growing Number of Geriatric Population
- Stringent Government Rules and Regulations
Market Leaders and some development strategies
In June 2020, GW Pharmaceuticals plc, a world leader in discovering, developing and delivering regulatory approved cannabis-based medicines, has announced that the UK Home Office has reclassified EPIDYOLEX (cannabidiol) as a Schedule 5 drug.
Key Target AudienceCannabinoid Drugs Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies and End-users
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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