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CBD’s Touted Therapeutic Benefits Help Loosen Regulatory Constraints
- Global cannabidiol market is expected to reach USD 9.69 Billion by 2025 while registering a CAGR of 32.6% during the forecast period.
NEW YORK, Feb. 10, 2020 – Most regions that have approved medical cannabis typically see doctors prescribe CBD-based medications to their patients. CBD, or cannabidiol, is a derivative of the hemp plant, yet is unlike its counterpart, THC, which is derived from the marijuana plant. Nowadays, the FDA acknowledges that CBD can possibly become a legitimate alternative medical treatment to a number of traditional therapeutics, further highlight the health benefits associated with the compound. However, the agency is requiring researchers to provide more data on the efficacy of CBD in order for CBD to become an approved medicinal treatment, prompting them to conduct large-scale clinical trials. “As legislation expands rapidly worldwide, the volume of efficacy data is growing, as are legitimate clinical trial studies,” says Liam McGreevy, Chief Executive Officer of Ethnopharm, a European cannabis company specializing in genetics and distribution, “This data will enable us to better understand the effects of the various cannabinoids and terpenes, their synergistic effect and how their impact links to the individual’s genetics or biomarkers.
This data is key to understanding the most effective combinations and strengths for various conditions, moving towards targeted personalized medicines.” And according to data compiled by Grand View Research, the global cannabidiol market is expected to reach USD 9.69 Billion by 2025 while registering a CAGR of 32.6% during the forecast period. Global Payout, Inc. (OTC: GOHE), Auxly Cannabis Group Inc. (OTC: CBWTF), Puration Inc. (OTC: PURA), Green Organic Dutchman Holdings Ltd. (OTC: TGODF), Liberty Health Sciences Inc (OTC: LHSIF)
As the cannabis industry continues to develop, lawmakers and federal agencies are actively working towards expanding the market. Recently, the U.S. Department of Agriculture (USDA) provided an update on its interim final rule process for hemp. According to the USDA, hemp production in the U.S. has seen a resurgence in the last five years; however, it remains unclear whether consumer demand will meet the supply. High prices for hemp, driven primarily by demand for use in producing CBD, relative to other crops, have also driven increases in planting. As such, producer interest in hemp production is largely driven by the potential for high returns from sales of hemp flowers to be processed into CBD oil.
And after extensive consultation with the Attorney General, the USDA issued the following interim final rule to establish the domestic hemp production program and to facilitate the production of hemp, as set forth in the 2018 Farm Bill: The USDA upholds the 0.3% threshold as out of its jurisdictional hands as written into the law. Furthermore, the lack of remedies for testing noncompliance raised suggestions that farmers be allowed to ship to processors who could remove the THC to keep the crop viable. Another subject of worry was the requirement (as described in the Federal Register) that laboratories be certified by the Drug Enforcement Administration (DEA), and crops tested within 15 days prior to harvest. Yet, by the end of January, only 44 labs existed to support more than 16,000 licensed farmers. Accordingly, the industry expects to remain bureaucratically constrained yet again after other fundamental supply-chain bottlenecks limited output and producers’ ability to bring their crops to market.
Source: https://www.prnewswire.com/news-releases/cbds-touted-therapeutic-benefits-help-loosen-regulatory-constraints-301001669.html