SANTA CLARA, Calif., July 23, 2018 /PRNewswire/ -- Frost & Sullivan's recent analysis on medical cannabis finds that
Frost & Sullivan, in partnership with Tarsus, has recently released its analysis, US Medical Marijuana Market, Forecast to 2022, which provides an assessment of trends, challenges, and growth opportunities. Business models, market dynamics, technology applications, and investment opportunities are also discussed.
For further information on this analysis, please visit: http://frost.ly/2mw
"Several pharmaceutical companies are working on the development of cannabidiol (CBD)-based receptor agonist drugs. To do so, they need to be aware of the guidelines the FDA sets for the approval of these drugs to advance the therapeutics to the market," noted Barbara Gilmore, Transformational Health Senior Consultant at Frost & Sullivan. "The FDA advisory committee recently approved a cannabinoid receptor agonist drug called Epidiolex, which when launched will be the first FDA-approved, CBD-derived drug on the US market for the treatment of epilepsy."
Cannabinoid targeted small-molecule drugs, such as Cesamet, Marinol and Sativex, have been approved for the treatment of numerous medical conditions. In some US states where medical marijuana has been legalized, prescription pain drug use has reduced, especially opioids. Medical cannabis-derived products have the potential to treat pain, which could significantly curb the out-of-control opioid epidemic gripping the nation.
Future growth opportunities in this market include:
Restraints in this market include the risk of patient medical registry data where medical use is permitted and the lack of understanding from physicians about cannabis since they might not have completed medical cannabis coursework in medical school. One of the major concerns of the United States Food and Drug Administration (FDA) is that the lack of standardized testing of cannabis plants (marijuana) is making it impossible to evaluate, with scientific rigor, the test results that are normally required for drugs that are approved for human use. Nevertheless, healthcare companies are willing to invest.
"Pharma and big tobacco companies have the regulatory and FDA process understanding coupled with large amounts of capital to invest in innovative products, processes, systems, and devices related to the cannabis market to take products developed in this space to the next level. For instance, the tobacco giant Philip Morris has even invested $20 million into Syqe Medical to support the development of technologies that help reduce smoking-associated health risks," explained Gilmore.
US Medical Marijuana Market, Forecast to 2022 is part of Frost & Sullivan's Transformation Health – Life Sciences Growth Partnership Service program.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
US Medical Marijuana Market, Forecast to 2022K27E-52
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SOURCE Frost & Sullivan
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