Increasing prevalence of diabetes, cancer, chronic pain, and rapid demand for healthy food products with THC and CBD are expected to drive the growth of the global market.
PUNE, MAHARASHTRA, INDIA, August 2, 2022 /EINPresswire.com/ — The global tetrahydrocannabinol (THC) and cannabidiol (CBD) market size is expected to reach USD XX billion by 2028
The growing acceptance and use of tetrahydrocannabinol (THC) and cannabidiol (CBD) products for medical purposes, the increased incidence of chronic pain, Alzheimer’s, epilepsy and other neurological diseases and the increase in investments in research and development activities drive global market growth.
Market Size: $XX Billion in 2017 Market Growth: at a CAGR of XX% Market Trends: Growing Awareness of the Health Benefits of CBD
The global tetrahydrocannabinol (THC) and cannabidiol (CBD) market size is expected to reach USD XX billion by 2028 and register a robust revenue CAGR of XX% during the forecast period. Key factors such as the high use of cannabidiol oil in skin care products to treat wrinkles and acne, the increased use of THC and CBD in the treatment and management of pain and increasing sales of THC and CBD products in many retail stores around the world are driving the revenue of the global market. growth
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Cannabis is an herbal drug that contains several chemicals called cannabinoids, of which delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are most commonly used for therapeutic purposes. THC is widely used in the treatment of pain, muscle spasticity, insomnia, lack of appetite, nausea and glaucoma, while CBD is used to reduce inflammation, seizures, pain, migraine, nausea, anxiety, inflammatory bowel disease and psychosis, among others. In recent years, there has been a rapid increase in demand for healthy food products with high nutrients. Factors such as the steady increase in government approvals of these products, the high use of cannabidiol in pharmaceuticals, pet care, food and beverage, and cosmetics and personal care products, and the increasing of investments in research and development activities are expected to drive the growth of the global market. .
However, factors such as the availability of various synthetic and counterfeit products, strict regulatory standards for product approval in various countries, side effects associated with CBD products, and the high cost of THC products and CBD restrain the growth of the global market to some extent during the forecast period. In addition, lack of awareness and accurate information about the benefits of these drugs in many developing and underdeveloped countries is expected to limit the adoption of THC and CBD products.
Cannabidiol (CBD) Segment to Account for Largest Revenue Share:
The cannabidiol segment is expected to account for the largest revenue share during the forecast period. Factors such as increasing incidence of neurological disorders and chronic diseases, increasing awareness about the medical benefits of cannabidiol, and high use of cannabidiol in the pharmaceutical, food, beverage, and cosmetic sectors are expected to drive the growth of segment revenue.
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Pharmaceutical Industry Segment to Register Robust Revenue CAGR:
Revenue from the pharmaceutical segment is expected to expand at a robust revenue CAGR during the forecast period. This can be attributed to the high demand for THC and CBD products to reduce psychotic events in schizophrenia, reverse hemorrhoids and prevent menstrual cramps, increase awareness of the health benefits of these products, and increase investments in the development of effective and new medical drugs.
North America will lead in terms of revenue share:
North America is expected to hold the largest revenue share in the global market during the forecast period, attributable to favorable government regulations in terms of legalization and product approvals, presence of well-developed healthcare and research infrastructure, and the increasing incidence of neurological and chronic disorders everywhere. the region In addition, increasing public awareness, presence of major market players, and increased investments in research and development activities are expected to drive the growth of the North America market during the forecast period .
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Tetrahydrocannabinol (THC) and Cannabidiol Market by Company
• Kazmira
• CW Hemp/CW Botanicals
• Freedom leaf
• Green Road
• Medical marijuana
• Biosciences of the leaf
• HempLife Today
• Cannavest
• Pharmahemp
• ENDOCA
• CBD American Shaman
• NuLeaf Naturals
• Select Oil
• KIND Concentrates
• Canopy Growth Corporation
• It cools
• Emblem of cannabis oils
• Whistler
• The Laboratory
• Absolute terps
For the purpose of this report, Xcellent Insights has segmented the global tetrahydrocannabinol (THC) and cannabidiol (CBD) market by type, application and region:
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Type:
• Tetrahydrocannabinol (THC)
• Cannabidiol (CBD)
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Application:
• Pharmaceutical Industry
• Food industry
• Cosmetics Industry
• Others
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Region:
• North America
or United States
the canada
• Europe
or Germany
or France
the united kingdom
or Italy
or Russia
• Asia Pacific
or China
or Japan
or South Korea
the india
or Australia
or Taiwan
or Indonesia
or Thailand
malaysia
• Latin America
the mexico
or Brazil
Argentina
• Middle East and Africa
or Turkey
or Saudi Arabia
of the United Arab Emirates
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The following market research reports may be of interest:
Global Hemp Derived CBD Oil Market Insights and Forecasts to 2028
Global Cannabidiol (CBD) Oil Supplement Market Insights, Forecast to 2028
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August 2, 2022 at 11:34 |
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