The Cannabinoid Derived Pharmaceutical Market Size is valued at 1062.89 Million in 2022 and is predicted to reach 4237.97 Million by the year 2030 at an 18.18 % CAGR during the forecast period for 2023-2030.
Cannabinoids are naturally occurring compounds derived from the Cannabis sativa plant. In 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 the use and acceptance of CBD can be principally attributed to the onset of cannabis legalization across the United States. 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 the anticipated shift in consumer preferences for derivative cannabis product formats, and the applications for cannabinoids in 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 treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms, and acne reduction. The market is expected to show lucrative opportunities over the forecast period owing to the augmented adoption of CBD-based products for treating various medical conditions.
Market Segmentation
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 the forecast period.
Competitive Landscape
Some Of The Key Players In The Cannabinoid Derived Pharmaceutical Market:
- Cara Therapeutics, Inc.
- Arena Pharmaceuticals (Pfizer)
- Cannabics Pharmaceuticals Inc.
- GW Pharmaceuticals (Jazz Pharmaceuticals)
- InMed Pharmaceuticals
- INSYS Therapeutics, Inc.
- LaraPharm
- MGC Pharmaceuticals, Ltd.
- One World Cannabis
- Orpheus Medica
- Receptor Life Sciences
- RespireRx Pharmaceuticals
- Tetra Bio-Pharma
- Cardiol Therapeutics
- United cannabis Corporation
- Zynerba Pharmaceuticals
- Other Players
The Cannabinoid Derived Pharmaceutical Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1062.89 Million |
|
Revenue Forecast In 2030 |
USD 4237.97 Million |
|
Growth Rate CAGR |
CAGR of 18.18 % from 2023 to 2030 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2030 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2030 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By Molecule Type, By Disease Indication |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Cara Therapeutics, Inc., Arena Pharmaceuticals, Cannabics Pharmaceuticals Inc., 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, Cardiol Therapeutics, United cannabis Corporation, Zynerba Pharmaceuticals, and List of Other Prominent Players. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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