The growth of the market is driven by the increased R&D investment in the healthcare industry and rising acceptance of cannabis globally.
Market Size – USD 1.04 Billion in 2018, Market Growth - CAGR of 27.7%, Market Trends – Increased R&D investment in the healthcare industry and rising acceptance of cannabis globally.
NEW YORK, May 06, 2019 (GLOBE NEWSWIRE) -- The Cannabidiol (CBD) Market is forecast to grow from USD 1.04 Billion in 2018 to USD 16.32 Billion by 2026, at a CAGR of 27.7%, during the forecast period. The market is primarily driven by the increase in the usage of cannabidiol (CBD) in medical application, supplements, beverages and skin care.
As a wide-spectrum pharmaceutical therapy, the cannabidiol market place is likely to witness significant R&D investments in the pharmaceutical industry. For its potential in the treatment of a number of diseases, multiple scientific studies have shown promising results of cannabidiol. As a result, the cannabidiol market is marked by a significant cannabidiol therapy that receives FDA approval or moves forward in human clinical trials.
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Approval of EPIDIOLEX ® cannabidiol has become a landmark announcement as it is the very first FDA approval of cannabis sativa plant-derived drug and also validated some of cannabidiol's therapeutic benefits. Significant economic, political and legislative shifts across the global cannabinoid marketplace are also expected to impact approval. It is also expected that the Drug Enforcement Administration (DEA) will reschedule and change the cannabidiol compound classification in the near future.
Further key findings from the report suggest
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of form, routes of administration, product, application, source, end user and regional analysis.
Form (Revenue, USD Million; 2016-2026)
Routes of Administration (Revenue, USD Million; 2016-2026)
Product (Revenue, USD Million; 2016-2026)
Application (Revenue, USD Million; 2016-2026)
End Use (Revenue, USD Million; 2016-2026)
Source (Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
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