Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- In light of a pivotal study identifying 65 potential cannabis-responsive biomarkers and the recent recommendation by the US Department of Health and Human Services to reschedule cannabis, as reported in a recent article on Lexology, the timely launch of "The Pharmaceutical Cannabis Report: 3rd Edition" available on ResearchAndMarkets.com provides an in-depth global insight into the expanding realm of pharmaceutical cannabis.
This comprehensive report presents a meticulous analysis of the contemporary landscape of cannabis and cannabinoids in pharmaceutical medicine. Delving deep into the mechanics of clinical trials, patents, and innovation, the report serves as an essential guide for business entrepreneurs and managers, giving them the strategic edge in a rapidly evolving sector.
One of the standout features of the report is its market-sizing forecast for the global pharmaceutical cannabis industry from 2023 to 2027. As the industry is poised for growth, understanding these forecasts becomes crucial for businesses to align their strategies. Notably, the global sales within this industry are anticipated to burgeon from US$1.11 billion in 2023 to an impressive US$1.37 billion by 2027.
Epidiolex, known as Epidyolex in Europe, is spotlighted as a dominant player, projected to command an estimated market share of around 76% in 2023. However, the market isn't limited to one player. Other treatments like dronabinol and Sativex also hold significant market positions, with dronabinol alone generating estimated annual sales of approximately €160 million.
The report also sheds light on the increasing interest in the medical application of cannabinoids, with Jazz Pharmaceuticals emerging as a patent giant in this sphere. Notably, despite the myriad of cannabinoids available, CBD and THC remain at the forefront of patent activities, underscoring their historical and ongoing significance in the industry.
For businesses, understanding the financial dynamics of this industry is paramount. The report offers a clear breakdown of the costs associated with each stage of clinical trials. With even the most conservative estimates projecting a price tag of US$20 million to bring a medicine to market, this information is crucial for strategic planning and investment decisions.
Furthermore the "Pharmaceutical Cannabis Report" highlights the geographical concentration of pharmaceutical cannabis sales, pinpointing North America and Europe as the dominant regions. Within these territories, sales patterns exhibit a focus on key markets, providing businesses with insights into potential target regions.
Included in the purchase is a digital copy of the report, providing an assessment of the market size, concentrating primarily on three cannabinoid treatments: Epidiolex, dronabinol, and Sativex. The collective impact of Syndros, Marinol, nabilone, and Cesamet/Canemes is also touched upon, though their contribution to the global sales is minimal.
In the context of the recent findings and recommendations surrounding medical cannabis, "The Pharmaceutical Cannabis Report: 3rd Edition" serves as an invaluable resource. It not only informs but empowers business entrepreneurs and managers to navigate the complexities of the pharmaceutical cannabis industry, ensuring they are well-equipped to make informed decisions and capitalise on emerging opportunities.
For more information about this report visit https://www.researchandmarkets.com/r/vz4e0a
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.
