As the legalization of medical marijuana spreads, the appetite for investment in cannabis biotechnology continues to grow. This is the largest sector of the legal cannabis market, which is already worth billions of dollars . Researchers continue to discover new ways in which cannabinoids , compounds found in cannabis, can be used as medicines .
Globally, Earth Science Tech offers cannabidiol oil derived from full spectrum industrial hemp and is developing state-of-the-art products through its subsidiary Cannabis Therapeutics. GW Pharma, after creating Sativex, the first prescription drug based on cannabis, is working on a new product made up of 98% CBD, Epidiolex, to combat epilepsy, while Medical Marijuana supplies a range of CBD oils with medical and nutritional benefits to customers in North and South America. CV Science uses separate drug development and consumer product divisions to create and market a wide range of CBD-based products in different markets whileCannabis Science is developing cannabinoid-based drugs.
The legal cannabis sector is booming. According to the Brightfield Group, it already has a value of over 7 billion dollars and is expected to grow to 31 billion by 2021. Within this market, CBD products represent a significant sector, which should reach 1 billion dollars over the next 3 years. Even the most conservative American states are overcoming their objections and opening up to the production and sales of the CBD, as lawmakers seek to resolve legal ambiguities in favor of patients.
While the emergence of the recreational marijuana market in regions like Canada and California is exciting news for the industry, according to analysts , financial security is now based on medical products. The easing of laws makes research easier, as does the growing experience of companies operating in the sector. CBD has the potential to be used against a wide range of disorders and researchers, globally, are exploring its potential to address diseases such as epilepsy, anxiety, depression and cancer.