The Global Cannabinoid Derived Pharmaceutical market size was valued at US$ 7019.2 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 29.7% from 2020 to 2028. Cannabinoids are naturally occurring compounds derived from Cannabis sativa plant. In the recent years, Cannabinoids/medical marijuana have witnessed increased attention due to its growing therapeutic applications in human medicine. Cannabinoid’s active components are potentially effective in treating a variety of conditions, including chronic pain, cancer pain, depression, anxiety disorders, sleep disturbances and neurological disorders. The recent upsurge in use and acceptance of CBD can be principally attributed to the onset of cannabis legalization across the United States, and most recently, the passage of the 2018 Farm Bill, which legalized the cultivation of hemp – cannabis with less than 0.3 percent THC by weight.
The Demand for Cannabinoid extracts and isolates is expected to grow exponentially in the coming years, on account of anticipated shift in consumer preferences for derivative cannabis product formats, and the applications for cannabinoids in the pharmaceutical applications. The market is also driven by growing awareness about the therapeutic benefits paired with healing properties associated with cannabidiol (CBD). Moreover, cannabidiol (CBD) is widely used in several medical applications such as mitigation of pain, treatment of anxiety and depression, diabetes prevention, stress relief, alleviation of cancer symptoms, and acne reduction. The market is expected to show lucrative opportunities over the forecast period owing to augmented adoption of CBD-based products for treating various medical conditions.
The Global Cannabinoid Derived Pharmaceutical market is segmented on the basis of product, application, and region. Based on the products, the market is divided into Cannabinoid Receptor Type 1 (CB1), Cannabinoid Receptor Type 2 (CB2), and Others. On the basis of application type, the market is segmented into Alzheimer’s Disease, Autism, Cancer, Chronic Pain, Epilepsy, Migraine, Multiple Sclerosis, Schizophrenia, and Others. Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that Europe held the largest share of the market, followed by America and Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of forecast period.
The Key players of this market include Arena Pharmaceuticals, Cannabics Pharmaceuticals Inc., Cara Therapeutics, Inc., Cardiol Therapeutics, Echo Pharmaceuticals, GW Pharmaceuticals, InMed Pharmaceuticals, INSYS Therapeutics, Inc., LaraPharm, MGC Pharmaceuticals, Ltd., One World Cannabis, Orpheus Medica, Receptor Life Sciences, RespireRx Pharmaceuticals, Tetra Bio-Pharma, United cannabis Corporation, Zynerba Pharmaceuticals, and List of Other Prominent Players.
Cannabics Pharmaceuticals Inc.
Cara Therapeutics, Inc.
INSYS Therapeutics, Inc.
MGC Pharmaceuticals, Ltd.
One World Cannabis
Receptor Life Sciences
United cannabis Corporation
List of Other Prominent Players
- Global Cannabinoid Derived Pharmaceutical Market by Product
Cannabinoid Receptor Type 1 (CB1)
Cannabinoid Receptor Type 2 (CB2)
- Global Cannabinoid Derived Pharmaceutical Market Based on Application
- Global Cannabinoid Derived Pharmaceutical Market Based on Region
Europe Cannabinoid Derived Pharmaceutical Market by Country
Rest of Europe
- North America Cannabinoid Derived Pharmaceutical Market by Country
- Asia Pacific Cannabinoid Derived Pharmaceutical Market by Country
Australia & New Zealand
- Latin America Cannabinoid Derived Pharmaceutical Market by Country
Rest of Latin America
- Middle East & Africa Cannabinoid Derived Pharmaceutical Market by Country
Rest of Middle East & Africa
- Major Qualitative Insights
Future Trends in Cannabinoid Derived Pharmaceutical Market
Impact of COVID 19 on Cannabinoid Derived Pharmaceutical Market
Cannabinoid Derived Pharmaceutical Market Drivers and Challenges
Cannabinoid Derived Pharmaceutical Market Size and Forecast
Clinical Trial/Pipeline Analysis
Cannabinoid Derived Pharmaceutical Key News/Industry Activities
Major Mergers & Acquisition in Cannabinoid Derived Pharmaceutical Industry
Latest Strategic Developments
InsightAce Analytic follows a comprehensive and standard market research methodology focused on offering the most accurate and precise market insights. The company focuses on data triangulation using statistical models that helps company to generate market estimation with minimum deviation. The methodology followed for all our market studies include:
- Primary Research (Industry experts and KOLs interviews)
- Secondary Research (Collection of qualitative and quantitative data from desk research)
- Statistics Data Analysis Models