A cannabinoid is a class of chemical compounds that change the neurotransmitter release in the brain by acting on cannabinoid receptors in the cells. Cannabinoids are derived from plants and are also referred to as the phytocannabinoids.
The growing popularity of cannabis among the youth and legalization of recreational cannabis globally are the major factors responsible for driving the cannabinoid therapy market. Increasing incidences of multiple sclerosis spasticity, anorexia nervosa related to HIV/AIDS, nausea, and cancer are also contributing to the demand for cannabinoid therapy Market during the forecast period
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According to the study by Mechoulam and Hanus (2000), delta-9-tetrahydrocannabinol is the most intensively researched cannabinoid and exhibits the greatest psychoactivity among all the available cannabinoids.
Cannabinoid therapy includes the use of these chemical compounds for various cancer cases, neuropathic disorders, spasticity conditions and is used for sedation as well.
Cannabinoid Therapy Market: Drivers
The first FDA-approved cannabis drug has been launched and several cannabinoid therapies are on the receiving end of FDA approval. This factor might also drive the cannabinoid therapy market during the forecast period.
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Cannabinoid Therapy Market: Segmentation
Tentatively, the global cannabinoid therapy market can be segmented on the basis of Cephalometric X-ray type, technology, product type, end users, and geography.
Based on therapy type, the global cannabinoid therapy market is segmented as:
- Tetrahydrocannabinol (THC)
- Cannabidiol (CBD)
- Cannabinol (CBN)
- Others
Based on product type, the global cannabinoid therapy market is segmented as:
- Oils
- Capsules
- Isolates
- E-liquids
- Topicals
- Others
Based on applications, the global cannabinoid therapy market is segmented as:
- Cannabinoid therapy for cancer
- Cannabinoid therapy for spasticity
- Cannabinoid therapy for neuropathic disorders
- Others
Based on end users, the global cannabinoid therapy market is segmented as:
- Hospitals
- Cancer Centers
- Military Healthcare Settings
- Rehabilitation Centers
- Others
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