The global legal cannabis medical Market is foretold to have substantial growth opportunities in the coming years. According to a report by Transparency Market Research (TMR), the increasing discovery of the medical uses of cannabis is one of the vital factors propelling the market. The report, titled, “Legal Cannabis Medical Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” presents various projections on the market based on different market segments and sub segments, the trends driving it, and the opportunities and threats that players are likely to face.
Presently, there are two cannabis containing FDA-approved drugs – nabilone and dronabinol. They have been approved for treating chemotherapy-induced nausea and for increasing appetite of patients in cases of extreme weight loss due to AIDS. A number of European countries have allowed the use of nabiximols, containing both CBD and THC, for use in the treatment of muscle control issues caused by multiple sclerosis. Also, a CBD-based drug- epidiolex, is undergoing trials for approval – it is meant for the treatment of epilepsy in children. Advances such as these are expected to augment the demand for legal and medical cannabis over the coming years.
Based on the type of condition being treated, the legal cannabis medical market is segmented into migraine, arthritis, chronic pain, cancer, and others. Some medically established studies root for marijuana in treating chronic pain. The increased number of clinical trials of cannabis extract for use in neuropathic and chronic pain treatments are thus anticipated to further propel the chronic pain segment over the coming years. Based upon the administration mode, the market is segmented into injectable, oral, injectable, and dermal patches, among others.
Key players in the global legal cannabis medical market are Abattis Bioceuticals Corp., Lexaria Corp, GW Pharmaceutical, PLC, United Cannabis Corporation, and ABcann Medicinals Inc.
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