Cannabis Pharmaceutical Market Outlook – 2027
Cannabis is used for the treatment of various conditions and diseases and are obtained from either marijuana plants or chemicals. It is similar to the marijuana used for recreational purposes however it is also used for medical reasons.
Marijuana plants are accommodated about a hundred chemicals which are also known as cannabinoids. The effect of marijuana or cannabis differs from person to person. The chemicals which are mainly used in the medical fields are cannabidiol (CBD) and Delta-9-tetrahydrocannabinol (THC). THC also fabricates the feeling when a person smokes or consumes marijuana.
There have been various evidences that relate cannabis yo various effects in the therapeutics field like abilities for reducing chronic pain, vomiting, nausea which are caused by spasticity and chemotherapy. Cannabinoids affect the memory, appetite, pain, and movement.
COVID-19 scenario analysis:
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future.
Owing to such factors, COVID 19 is expected to have a significant impact on the Cannabis pharmaceuticals market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Increasing rates of clinical trials for the cannabis drugs and its growing importance in the medical field due to its properties, increasing awareness of the cannabidiol products owing to their medical benefits are the major factors affecting the growth of the cannabis pharmaceuticals market.
Additionally, the growth of pharmaceuticals that are based on cannabis and they are used for multiple reasons like chronic pain, inflammation, sleep disorders, epilepsy, schizophrenia, anorexia, and symptoms of multiple sclerosis is one of the factors propelling the growth of the cannabis pharmaceuticals market.
On the other hand, there have been strict policies and regulations for the cannabidiol products in many countries and is posing a restriction for the cannabis products and its market.
New product launches and acquisitions to flourish the market:
In June 2018, approximately 400 completed and active clinical trials were carried out on the CBD. Amongst them, GW Pharmaceuticals successfully registered 40 clinical trials with FDA, while Sanofi registered 38 activeCBD.
On November 1st, 2018, GW Pharmaceuticals launched EPIDIOLEX, which is an oral solution based on CBD for the treatment of seizures like Lennox Gastautsyndrome(LGS) and Dravet Syndrome.
Surge in usage in pharmaceutical companies applications:
Pharmaceutical companies, research institutions, and beauty care are the major consumers of the cannabis pharmaceuticals market. Various researches have been running studies on the cannabis chemicals for discovering new medicinal products. Along with the inflow of prescriptions for medical marijuana, pharmaceutical companies are getting hit. Various pharmaceutical companies have been incorporating cannabis in their portfolios and strategies. Cannabis has also been applied in the beauty and wellness sector and is growing rapidly. In particular, the CBD oil has been attracting attention in the population.
Key benefits of the report:
- This study presents the analytical depiction of the global Cannabis pharmaceuticals industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cannabis pharmaceutical marketshare.
- The current market is quantitatively analyzed to highlight the global cannabis pharmaceutical marketgrowth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cannabis pharmaceutical marketanalysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Cannabis pharmaceuticals Market research report:
- What are the leading market players active in the Cannabis pharmaceuticals market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Cannabis Pharmaceutical Market Report Highlights
| Aspects | Details |
 By Brand |
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 By Application |
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 By Type |
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 By Region |
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 Key Market Players | AbbVie Inc., GW Pharmaceuticals, CB Therapeutics, Serina Therapeuticals, Insys Therapeutics, Inc., Botanix Pharmaceuticals, Pascal Biosciences, Medicure Pharmaceuticals, Cannabis Sciences, Valeant Pharmaceuticals |
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