How CBD Market is moving in Right Direction According to Clinical Research and Market Analysis?
Use of cannabis to treat sick has been documented in history. The ancient healers and doctors prescribed it to their patients seeing the healing properties cannabis contained.
The modern medical science only took notice of this magical family a few decades back and has been advancing to apply it in treating diseases. It is however recently the plant’s popularity picked up the pace and the market started seeing CBD or cannabis based products.
CBD shouldn’t be mixed with marijuana. Though both are derived from cannabis sativa hence the term. The former does not contain enough THC (tetrahydrocannabinol) to operate as a psychoactive agent that intoxicates or causes euphoria aka the “High.” Instead, many people attest to its ability to ease pain, calm anxiety, soothe the skin, and other wellness benefits.
In fact, cannabis has proven to be effective against seizures associated with two of the rarest forms of childhood epilepsy, Dravet Syndrome and Lennox-Gastaut Syndrome. The treatment comes approved by the FDA. It is the first time Food and Drug Association has permitted the use of CBD in treatment of Dravet Syndrome patients of two years and older.
The pharmaceutical market received the news with all hands up. Its previous implications and now FDA’s consent is hope for manufacturers to go further into drug development and research.
Medical community isn’t silent either and has been conducting various studies to analyze how CBD benefits certain condition.
One of them studies was on IBD (Inflammatory Bowel Disease) in adolescents. The study focused use of oral and sublingual CBD oil with patients of IBD. The subject patients of 13 to 23 years of age participated over the course of 2015 to 2017 at the Colorado Children Hospital. The CBD oil users and non-users were compared for perceptions of risk and clinical characteristics.
The CBD Oil users shared information on the patterns, motivation, benefits and problem with its use. The study began with 15 CO user and 67 non CO users, all were in same condition. 5 out of 15 CO users reported the medical benefits of the CBD in relieving pain. 9 CO users exhibited sleep quality, effect on nausea and an increased appetite.
On the brighter side, CBD users showcase better health and are at less risk of obesity and diabetes. The statement was proven by another clinical research which was published in American Journal of Epidemiology. The survey group had over 52,000 participants and the test concluded obesity rate among regular CBD users were lower.
How Market Is Responding?
Pharmaceutical moguls are touting CBD as the elixir for life. Although it’s been out for some time, the uses are not absolute and require time to further develop. One of many reasons why you shouldn’t be mixing it with other medicines, yet it’s definitely an alternative for the pharmaceuticals.
According to the industry experts, CBD oil market is witnessing a storm. It’s growing at an extraordinary CAGR (compound annual growth rate) of over 30% and the number is expected to be constant until 2022.
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LP Information projects as well that CBD Market to register a CAGR of 30.7% which will bump the revenue from $150million (2017) to 7$60 million in next few years i.e. by 2023.
That said, its popularity and surprising application in the medical field have led to more CBD based products, like food supplements, to hit the market. And that’s where a new problem is rising. In the race of providing better and better substitutes, a lot of companies are taking the synthetic way.
Joel Stanley, CEO of Charlotte’s Web Hemp, says: “There’s a lot of great innovation going on right now, but because it’s a new industry, there’s also the fly-by-night players looking to make a quick buck. In fact, the FDA conducted their own study around CBD products and found that many don’t even contain CBD.”
Regardless, many startups and pharmaceutical firms are driven to hit the shelves with authentic and genuine CBD products. And since it’s a shining $22 Billion industry, contenders don’t want to miss the upcoming golden rush.
Companies like Verma Farms creates its CBD oil from pesticide-free, organic, all-natural cannabis sativa plants. They even use minimal additional ingredients (which are all-natural and vegan as well). Furthermore, they are against using anything which is not produced naturally. The most popular of their products is Focus, which has been praised by CBD enthusiasts for its ability to help you relax in situations that cause heavy distractions or social anxiety
The fact synthetic CBD and other artificial cannabinoids are incredibly dangerous, they can cause various conditions including vomiting, seizures, and paranoia — and in worse case, even death. If you are going to engage with CBD products, it is imperative that you use those of the highest, all-natural quality.
2RiseNaturals’ is yet another ethical CBD products developer. They use pesticide-free, made from hemp grown with compost in the manufacturing process. While the most trustworthy CBD brands have their products tested in a third-party lab for potency and purity verification, 2Rise Naturals doesn’t just have its products tested once — it has them tested three times in separate labs.
The company’s tincture includes MCT oil made from coconuts to provide fats that help your body absorb CBD. Wellandgood.com also attests to its exceedingly delicious taste, so you can consider cooking with it instead of only taking it straight.
The market at the moment for CBD looks promising and there’s a lot of potential for improvement, too. Good players are contributing by manufacturing original products, and more startups are coming forth with new innovations.
Medical community and scientists are on their toes to improve the CBD sector and harness its complete essence to cure as many diseases as they can.
For consumers, while it’s imperative to go for the trusted and certified CBD providers, looking out for the fake and synthetic substitute is significant as well. If you are going to engage with cannabidiol oils and tinctures, it is recommended you consult your GP/doctor first and proceed accordingly. And watch out for FDA announcement as well.