BDS Analytics provides world leading market data and business intelligence from across the constantly evolving cannabis sector.
With cannabis now fully or partially legal for medicinal purposes in 36 countries and 33 US states, the industry is constantly growing and changing to comply with evolving legislation and meet diverse consumer needs. Cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC) have been shown to be effective in the treatment and alleviation of symptoms for a diverse array of conditions including epilepsy, multiple sclerosis, Parkinson’s disease and post-traumatic stress disorder.
Marketing of medicinal cannabinoid products in the US is now faced with a key issue: dispensaries, which may not make specific claims about the health benefits of cannabinoids, must now compete against pharmacies retailing medically tested, pharmaceutical quality products. By 2022, worldwide spending on medicinal cannabis derivatives is expected to reach $12bn (€10.72bn). As the market expands and diversifies, spending on specifically pharmaceutical cannabis products is projected to comprise less than 10% of the total global legal cannabis spending; so pharmaceutical companies must take aggressive action to cement their position in the market and compete effectively with dispensaries.
In a 2018 study, 41% of medicinal cannabis users reported a reduction in their use of conventional over-the-counter medication since adopting cannabis as a treatment; while 39% of users reported they had reduced their use of prescription medication. US states which have legalised the medicinal sale of cannabinoids have seen an overall drop of 30% in opioid use. As a treatment for anxiety and pain in particular, cannabis has grown in popularity; in part because of its minimal side effects and relatively non-addictive nature by comparison with conventional pharmaceuticals.
In this eBook, BDS Analytics covers the rise of cannabis as a treatment option; its expanding legality in the US and worldwide; and a comprehensive overview of the market, covering both medical and pharmaceutical products at present and in the future.
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