Cann*bidiol Market Is Driven by High Demand for Medical and Wellness Applications | Global Insight Services

Cann*bidiol is a chemical component found in marijuana and hemp plants that is widely used in medicine. Pain, anxiety, muscle dysfunction (dystonia), Crohn's disease, Parkinson's disease, and a variety of other medical diseases are all treated with cann*bidiol. As a result, cann*bidiol is becoming increasingly popular in different parts of the world.

There has been an upsurge in demand as people become more aware of the health benefits of cann*bidiol. The market's rise has been aided by increased research and development activities as well as increased production.

A number of nutraceutical firms are joining the CB'D market, offering a diverse range of supplements and functional meals in a variety of forms. MGC Pharma, for example, has launched nutraceutical-based products in China, including CB'D capsules, water-soluble CB'D solution, and hemp powder. These medicines have quickly developed a large following among consumers because they provide the medical benefits of cann*bidiol without the intoxication.

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COVID-19 Impact:

The COVID-19 outbreak, as well as government-imposed measures such as social separation and confinement, have exacerbated the market. Due to the statewide suspension of transportation and manufacturing in major raw material producing countries such as China and India, the market began to experience a supply deficit.

Key Trends and Drivers:

- To achieve fitness goals and avoid ailments such as inflammation and pain, consumers look for new and healthy food products that are nutrient-dense.
- The pharmaceutical sector, which is constantly expanding around the world, acknowledges the value and benefits of cann*bis and its by-products.
- Globally, favorable rules regulating the use of cann*bis and related products are becoming more prevalent, and people are becoming more aware of the different benefits linked with cann*bidiol.
- These items have grown in popularity as a result of their numerous applications, which include potential healing powers as well as the ability to soothe.
- There has been a considerable surge in medical treatment using cann*bis-related drugs. Because of its healing capabilities, cann*bidiols are in high demand for medical and wellness applications, which is one of the primary drivers of the global cann*bidiol market's growth.

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Restraints and Challenges:

- A lack of consistency in terms of product quality and manufacturing process leads to lower-quality product creation.
- A major hurdle to the growth of the cann*bidiol business is lack of awareness in developing countries regarding the benefits and high costs of cann*bis products.

Segmentation:

By Product:
Oil
Tinctures
Suppository
Transdermal patches
Isolates
Tablet
Capsules
Vape oil
Creams and roll-on
CB'D inhalers

By Source:
Marijuana
Hemp

By Application:
CB'D for Food & Beverage
CB'D for Cosmetics & Personal Care
CB'D for Pharmaceuticals
CB'D for Other Applications

By Route of Administration:
Oral
Topical
Inhalation
Transdermal patches
Rectal
Sublingual

By End-use Outlook:
Medical
Chronic Pain
Mental Disorders
Cancer
Others
Personal Use
Pharmaceuticals
Wellness
Food & Beverages
Personal Care & Cosmetics
Nutraceuticals

Key Players:

- Cronos Group
- Aurora Cann*bis
- Folium Biosciences
- Tilray
- NuLeaf Naturals, LLC
- Isodiol International, Inc.
- CB'D Health Solutions
- Terra Tech Corp
- Canopy Growth Corporation
- Medical Marijuana Inc.

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This release was published on openPR.