Medical Cannabis Market Overview

1. Medical Cannabis Market Overview Cannabis, also known as pot, weed, hemp, marijuana, etc. is a flowering plant in the family Cannabaceae. Cannabis comes in various strains and types. Indigenous to Indian subcontinents and Central Asia, Cannabis has been cultivated for a long time due to its recreational effects and medical benefits. Cannabis-derived medicines were available in the portfolio of major pharmaceutical companies and various conditions such as pain, nausea, and rheumatism were treated using marijuana as a therapeutic, However, by the mid-20th century, the perception regarding Cannabis and its extracts started to evolve from commonly used medical drug to a dangerous narcotic, driven by fears of growing the plant for recreational use and an unclear understanding of how the drug works within the body. In the 1990s, Cannabis was proven to provide relief from various types of pain which were not suppressed by morphine-type drugs. It was also one of the rare drugs that had the potential to prevent or reverse wasting syndrome in AIDS and cancer patients. Cannabis is a fast-growing area in medical as well as the recreational market. The benefits of the Cannabis plant are now translating in diverse fields of medical research, pharmaceuticals, alcohol, and tobacco. Cannabis consists of over 500 distinct compounds, including cannabinoids, flavonoids, terpenoids, and omega fatty acids, approximately 6 percent of the manufactured drugs contained Cannabis.

2. Cannabis is a safer form of treatment with lesser risks of side effects as compared to other treatment options for numerous ailments like multiple sclerosis, spinal cord injury, spinal cord disease, cancer, HIV/AIDS, arthritis, epilepsy, Inflammatory bowel disease, insomnia and many more. It can also be used along with other forms of treatment to enhance their efficiency. For instance, Cannabis is used for chemotherapy patients as it is effective in the reduction of nausea and loss of appetite accompanying chemotherapy sessions. Similarly, it is used with traditional opioid painkillers, enabling the patients to reduce the dosage and frequency of opioid consumption, providing them better relief from pain. The most widely used application area for medical Cannabis is for chronic pain relief, Globally, more than 1.5 billion people suffer from chronic pain, the prevalence of which increases with age. Cannabis can also be effectively used in the treatment of fibromyalgia, interstitial cystitis, endometriosis, and several other conditions in which chronic pain is the final common pathway. With a greater number of countries coming with the legalization of Cannabis for medical as well as recreational purposes, the demand for Cannabis concentrate products is rapidly increasing. The Cannabis product market has been divided into three segments: flowers, concentrates and other infused products. Dried Flowers, Concentrates and Other Infused Products. There are two main types of Cannabis flowers variety, namely, Indica and Sativa. While Indica plants tend to have greater effect on the human body, Sativa affects the mind. Indica strains are a favored choice for individuals suffering from pain, anxiety or insomnia and are effective in alleviating symptoms of multiple sclerosis, Parkinson’s disease, arthritis, lupus, and fibromyalgia. Some of the most common conditions for which Cannabis is medically prescribed by physicians are Multiple sclerosis (MS), Spinal Cord Injury (SCI), Spinal Cord Disease, Inflammatory Bowel Disease (IBD), Insomnia, Alzheimer’s Disease, Cancer, AIDS/ Hepatitis C, Seizures/ Epilepsy, ALS and Arthritis. Get a free sample report and detailed table of content here – Cannabis Market Report and Patent Landscape Analysis