Le Lézard
Classified in: Health
Subjects: MAT, MRR

The Pharmaceutical Cannabis Report 2023: Global Sales Projected to Grow to US$1.37 Billion by 2027

DUBLIN, Nov. 6, 2023 /PRNewswire/ -- The "Pharmaceutical Cannabis Report: 3rd Edition" report has been added to ResearchAndMarkets.com's offering.


The burgeoning use of cannabinoids for medical treatment presents both immense opportunities and challenges, propelled by promising research on the endocannabinoid system yet hampered by fluctuating regulations. The present market, predominantly driven by non-traditional medical prescriptions, is witnessing a shift towards more precise formulations, especially in Europe. The United States, on the other hand, continues to see dominance in sales of medical flower and vaporized products among unapproved medicines. However, the pharmaceutical cannabinoid, Epidiolex, stands out as a success story, illustrating the potential within this space, generating over ?430 million in sales in 2020 and aiding over 20,000 patients, despite the hurdles faced by its producer, GW Pharmaceuticals, over a span of 20 years to achieve substantial sales.

The market for cannabinoid pharmaceuticals is poised for growth with an estimated value of nearly ?900 million as of 2021, expected to double by 2025. This growth trajectory is likely to be sustained or even accelerated with the approval of new cannabinoid therapeutics or the expansion of existing medicines into new regions or conditions. The industry is currently bustling with at least 30 late-stage clinical trials for cannabinoid therapeutics and burgeoning research on minor cannabinoids like Cannabigerol (CBG) and Cannabichromene (CBC). Additionally, the market is beginning to mature for synthetic cannabinoids, with commercial production of Tetrahydrocannabinol (THC) and Cannabidiol (CBD) through biosynthetic processes. The evolving patent landscape and the upcoming expiration of market exclusivity on Epidiolex signal potential legal battles and the entrance of generic versions, respectively. As the market gradually transitions towards precise cannabinoid formulations over the next decade, propelled further by the liberalization of adult-use cannabis, the medical cannabinoid sector is on the cusp of unveiling a plethora of new therapeutics globally, underscoring a promising yet competitive future for operators in this space.

This report gives a clear and detailed account of all activity involving cannabis and cannabinoids in the landscape of pharmaceutical medicine, at a global level. The main topics covered include an analysis of the relevant landscape in clinical trials, patents and innovation. As well as this, a market-sizing forecast for the global pharmaceutical cannabis industry for the period 2023-2027 is presented, with accompanying commentary, and a short analysis of the recent M&A activity and research funding activity relevant to the sector is included.

Discussion of the topics covered is informed and supported by extensive data produced during research for the report. Throughout the main sections, this data is visualised in order to provide evidence and clarification to analysis. Whenever possible, context is provided to explain the factors that have brought about the current circumstances in the relevant sphere of activity, and what constraints face those operating within it. Recent developments and trends are highlighted in order to draw attention to the most significant dynamics in each area.

Key Findings

What's Included:

A digital copy of the report which includes an assessment of the market size within the pharmaceutical cannabis industry, which primarily consists of three cannabinoid treatments: Epidiolex, dronabinol, and Sativex. The impact of Syndros, Marinol, nabilone and Cesamet/Canemes on the overall figures is of little significance - collectively, these medications are projected to contribute less than US$3 million in 2023, representing less than 0.3% of the global sales. For this reason, they have not been included in the charts in this section

For more information about this report visit https://www.researchandmarkets.com/r/df66kf

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg


SOURCE Research and Markets

These press releases may also interest you

at 07:40
Fast Company Magazine has awarded pioneering life sciences company Xenco Medical with its prestigious 2024 Innovation by Design Award for its groundbreaking TrabeculeX Continuum, the first convergent technology bridging regenerative medicine and...

at 07:39
SoniVie, which has developed a novel proprietary Therapeutic Intra-Vascular Ultrasound System (TIVUStm) to treat a variety of hypertensive disorders, presented on May 15th, 2024 at the EuroPCR conference (Paris, France) the results of its renal...

at 07:37
Advarra, the market leader in regulatory review solutions and clinical research technology for sites and sponsors, today announced new functionality to centralize all patient recruitment activities into a single view. Advarra's novel recruitment...

at 07:35
Arrowhead Pharmaceuticals, Inc. today announced that it will host a webcast and conference call on August 8, 2024, at 4:30 p.m. ET to discuss its financial results for the fiscal third quarter ended June 30, 2024. Webcast and Conference Call and...

at 07:35
Virpax® Pharmaceuticals, Inc. ("Virpax" or the "Company") , a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and anti-viral barrier indications,...

at 07:30
Shoulder Innovations, a leader in shoulder replacement technology, today announced the United States Patent and Trademark Office (USPTO) has granted nine new patents over the past 18 months that significantly expand the Company's intellectual...

News published on and distributed by: