Cannabis Market Expands Globally
NEW YORK, March 2, 2017 /PRNewswire/ --
The global medical cannabis market size was valued at USD 11.4 billion in 2015 and is projected to grow with CAGR of 17.1% during the forecast period, USD 55.8 billion by 2025, according to Grand View Research. The market is experiencing growth due to rising awareness regarding various medical applications such as pain management, appetite enhancement, and reducing eye pressure, as well as due to an increasing number of countries around the world allowing cannabis products to be manufactured and sold. NutraFuels Inc. (OTC: NTFU), American Cannabis Company Inc. (OTC: AMMJ), Growblox Sciences Inc. (OTC: GBLX), United Cannabis Corporation (OTC: CNAB) MassRoots Inc. (OTC: MSRT)
The report indicates that North America held a majority of the shares of nearly 49.0% in 2015. The surging pace of cannabis legalization in the U.S. is one of the key factors contributing to its increased demand. In the U.S., cannabis has been legalized for recreational uses in 4 states and 5 states, namely, California, Maine, Arizona, Massachusetts, and Nevada have voted for its legalization for recreation needs also. North America is also projected to be the fastest growing market with a CAGR of 22.0% during the forecast period.
NutraFuels Inc. (OTC: NTFU) is a manufacturer, distributer and marketer of a line of oral spray nutritional dietary products to consumers, retailers and wholesale outlets. Oral spray delivery systems are recognized by many as an effective methodology for delivery of pharmaceutical and nutraceutical products. On February 23rd, the company announced that as part of the implementation of initiation of clinical studies on the company's product line of oral spray nutraceuticals has announced the appointment of Kenneth Duchin, Ph.D., as Vice-President, Clinical Development and the agreement with Palm Beach Research to conduct clinical studies.
The recent growth of NutraFuels has provided the opportunity to explore the benefits of the oral spray product line. Dr Duchin's career has spanned over 30 years in the pharmaceutical industry in various management positions at Bristol-Myers Squibb and in small and mid-size companies (Theravance, IVAX Corporation, Noven Pharmaceuticals) as well as in start-up virtual organizations. He has extensive drug development experience in a broad range of therapeutic areas, led several registration programs, authored regulatory NDA and ANDA documents and has led cross-functional development teams. In addition, he has been an inventor of 9 patents and has published nearly 40 papers in peer reviewed journals.
To facilitate the clinical investigations sponsored by Nutrafuels, the company has engaged Palm Beach Research, West Palm Beach FL to conduct the clinical studies. This facility has access to large numbers of patients who routinely participate in clinical trials for many pharmaceutical and biotech companies based in the US and abroad.
"We are very pleased to be working with Ken and Palm Beach Research to initiate clinical trials for our health and wellness products," said Edgar Ward, NutraFuels President/CEO.
American Cannabis Company Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. American Cannabis Company also developed and now owns a portfolio of branded products including: The Satchel™, SoHum Living Soils™, The Cultivation Cube™ and The High Density Cultivation System™. We also design and provide other industry-specific custom product solutions. The building and development of our brands and product suite is based on our Geoponics Philosophy, 'the art and science of agriculture in soil.'
Growblox Sciences Inc. (OTCQB: GBLX) merges state-of-the-art technologies in plant biology, cultivation and post-production processes in order to optimize safe, consistent medical Cannabis. The company is pioneering technologies and industry-leading processes in combination with a Big Data-driven clinical research and development program to bring relief to patients in communities across the country. The company develops a comprehensive line of highly effective cannabis-based therapies ranging from custom medical compounds to consumer health and beauty products. The GB Sciences cultivation methodology ensures a consistent ratio of the plant's medicinal properties for each and every harvest. This is a critical factor when creating formulations for standardized therapeutic products.
United Cannabis Corporation (OTCQB: CNAB) has signed an exclusive licensing agreement with Vessel Life Sciences to produce and distribute its products, including the award-winning Prana Bio Nutrient Medicinals, throughout Pennsylvania. The Company's Prana Bio Medicinal products provide patients a simple, safe, accurate and easy way to mix-match cannabinoids for therapeutic purpose. These products are broken into 5 easy-to-use categories that are available in capsules, sublinguals and topical delivery methods. The company uses a patent-pending infusion process utilizing select fatty acids, lipids and specific combination of cannabis derived terpenes to increase bioavailability. Prana Bio Medicinal products are NON-GMO, ethanol-free, alcohol-free, glycerin-free, gluten-free, 100% naturally derived, chemical-free, solventless and hypoallergenic.
MassRoots Inc. (OTCQB: MSRT) is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make medical cannabis purchasing decisions through community-driven reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. MassRoots is not associated with the production or sale of cannabis, rather the company is one of the largest and most active technology platforms for cannabis consumers, businesses and activists with over 900,000 registered users.
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