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The endocannabinoid system market is estimated to be worth $5.4 billion in 2030, growing at a CAGR of 28% during the forecast period. Chronic conditions, such as arthritis, cancer, diabetes, and heart disease are known to affect approximately 133 million Americans, representing over 40% of the total US population. This number is projected to grow to 157 million by the end of 2020. In addition, nearly 20 million Americans are estimated to suffer from some form of neurological disorder. Such conditions are generally characterized by a variety of complex symptoms, such as seizures, chronic pain and sleep disorders, for which medical science has not yet been able to identify an underlying cause. Drugs that offer symptomatic relief are the only treatment option currently available for such conditions. Traditionally, the go-to option has been opioids. However, this class of drugs has a high propensity of being abused. Moreover, there is a substantial body of evidence that proves that the long-term use of opioids leads to addiction, and eventually results in secondary substance use disorders. Cannabis has been shown to have properties similar to that of opioids, offering relief from a wide range of clinical symptoms. On the other hand, owing to its strong psychoactive properties, it is widely used as a recreational drug. As a result, there are stringent policies regulating the use of this substance, worldwide.
Examples of key companies engaged in endocannabinoid system market (which have also been profiled in this market report; the complete list of companies is available in the full report) include GW Pharmaceuticals, Corbus Pharmaceuticals, Tilray, Tetra Bio-Pharma, Botanix Pharmaceuticals, Kalytera Therapeutics, Therapix Biosciences, Avicanna, GB Sciences and Echo Pharmaceuticals. This market report includes an easily searchable excel database of all the companies developing endocannabinoid system targeting therapeutics, worldwide.
Over time, extensive R&D on the potential health benefits of cannabis, have enabled medical researchers to identify a number of pharmacologically active ingredients that offer clinical benefit, minus the addictive properties of the crude substance. Presently, cannabinoid derivatives, such as cannabidiol and cannabidivarin, have garnered the attention of the scientific community and are being investigated in mainstream clinical research initiatives. These molecules have been shown to modulate the endocannabinoid signaling system, primarily interacting with the CB1 and CB2 receptors. In fact, in 1985, the first synthetic cannabinoid drug, MARINOL®, was approved by the US FDA, for the treatment of nausea and vomiting, induced with chemotherapy. Recently, in 2018, EPIDIOLEX®, another cannabinoid derivative, was granted marketing authorization to be used to treat seizures associated with Lennox-Gastaut syndrome, or Dravet syndrome. Currently, there are several stakeholders in the pharmaceutical industry actively engaged in efforts to develop leads, derived from the Cannabis plant, as drugs to offer symptomatic relief across a diverse range of therapeutic areas. Of late, there has been substantial partnering activity in this field, as researchers / developers strive to forge strategic alliances, mostly to establish legitimate supply chains for raw material procurement, in order to support further research. Moreover, multiple start-ups, with backing from interested investors, have been established. As pioneers in endocannabinoid system market continue to achieve proof-of-concept, concerning the clinical benefits of this upcoming class of pharmacological molecules, we believe that this niche market is likely to witness substantial market growth during the forecast period.
The “Endocannabinoid System Market, 2020-2030” market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the endocannabinoid system market. The market research report features an in-depth analysis, highlighting the diverse capabilities of stakeholders engaged in endocannabinoid system market. In addition to other elements, the market research report includes:
The key objective of endocannabinoid system market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for endocannabinoid system market during the forecast period. Based on multiple parameters, such as target patient population, likely adoption and the annual treatment cost, we have provided informed estimates on the evolution of endocannabinoid system targeted therapeutics market for the forecast period 2020-2030. The market report also features the likely distribution of the current and forecasted opportunity across [A] key target receptors (CB1, CB2, and others) [B] different target therapeutic areas (autoimmune disorders, genetic disorders, neurological disorders and pain disorders) [C] routes of administration (oral and inhalation) and [D] key geographical regions (North America, Europe, Asia-Pacific and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
The opinions and insights presented in the market report were also influenced by discussions held with multiple stakeholders in endocannabinoid system market. The market research report features detailed transcripts of interviews held with the following individuals (in alphabetical order):
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.