The rising number of clinical trials signifying the positive effects of utilizing cannabis pharmaceuticals for treating various medical conditions, such as multiple sclerosis, epilepsy, chronic pain, and cancer, is a major factor boosting market growth. Positive results provided by clinical trials help change the perspective of patients and healthcare professionals toward cannabis and pharmaceutical drugs developed using cannabis. For instance, as per the data provided by ClinicalTrials.gov, as of 2022, there are around 722 studies for Sativex that are active, either recruiting, not recruiting, or enrolling by invitation. In addition, around 401 clinical trials are active for Epidiolex under the same criteria.
Political & Legal Opportunities -
The market is expected to grow at a rapid pace in the coming years owing to the increasing number of research and clinical trials demonstrating the potential benefits of cannabis-based drugs on other medical conditions
Increasing investments by key market participants in developing cannabis-based pharmaceutical products to cater to the rising demand for these drugs in the market
Economic & Social Opportunities -
The launch of cannabis-based drugs in the market for treating specific medical conditions is expected to drive its demand
Geographic expansion by companies through strategic initiatives, such as distribution agreements, is expected to create opportunities for market growth
In the last few years, cannabidiol has become immensely popular globally and is used to treat a wide range of lifestyle diseases & medical conditions, such as inflammation, sleep disorders, pain, schizophrenia, epilepsy, anorexia, symptoms of multiple sclerosis, & other conditions. In addition, there is a high demand for cannabidiol in cosmetic products, such as lotions, creams, & moisturizers, and food items & beverages. Despite the high demand and increasing availability of cannabidiol, there are several uncertainties pertaining to its safety, quality, & legality. In the European Union, seeds for planting are only to be purchased from certified providers to ensure that the right variety of hemp is cultivated, as hemp is a rich source of cannabidiol.
This section will provide insights into the contents included in this cannabis pharmaceuticals market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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