The medical marijuana industry has registered some remarkable achievements over the past few years. New cannabis products, regulatory rulings, and innovations are gradually opening up the market for marijuana-based pharmaceutical products.
CBD has natural healing properties – click the button to avail its benefits now!
Moving into the future, biotech and pharmaceutical companies will seek to utilize these opportunities and capture the growing cannabis market. Many doctors today prescribe medical marijuana to patients for pain management and treatment of various medical conditions such as cancer, epilepsy, cardiovascular conditions, and even anxiety.
Coupled with a rising number of studies that have proven the enormous benefits of cannabis-derived compounds, the medical marijuana market is expected to grow as governments around the globe continue legalizing these products for use in the medical world.
Here are a few ways medical marijuana is shaping the future of medical sciences:
Cannabis-based Pharmaceuticals Emerge
According to a report by Energias Market Research, the global medicinal cannabis market is projected to grow by an average of 19 percent every year. The cannabis-based pharmaceutical market is estimated to grow from US$8.28 billion in 2017 to about US$28.1 billion in just five years. Since the medical cannabis industry is still in its infancy stage, various academic professionals across the globe are carrying scientific research on the potential medical application of the plant and the compounds derived from it. Most studies revolve around cannabis-derived compounds such as cannabidiol (CBD) and tetrahydrocannabinol (THC). However, the market still explores alternative products like Advil and Tylenol.
In fact, the US National Library of Medicine has listed over 90 active studies being carried out in the space of cannabis medicine. CBD has made major inroads as an effective relief for symptoms such as PTSD, anxiety, and depression. It also offers some anti-inflammatory properties to treat pain and antimicrobial effects to destroy a myriad of viruses.
More Medical Victories Crop Up
CBD first gained popularity in the mid-2010s with high-profile stories about the compound providing a miracle cure for children with debilitating epilepsy. Since then, more research findings have revealed additional medical benefits of cannabis. In 2018, the US Food and Drug Administration (FDA) approved NASDAQ: GWPH from GW Pharmaceuticals as a CBD-based epilepsy drug. The product helped children with rare conditions of epilepsy known as Lennox-Gastaut syndrome and Dravet syndrome. That was the first cannabis-derived drug to be approved by the agency, making history for both the cannabis industry and the pharmaceutical company GW.
Another major milestone for the medical marijuana industry came when the US Drug Enforcement Administration classified Epidiolex as a Schedule 5 substance, meaning that the compounds are required to contain less than 0.1 percent THC. Moving into the future, more groundbreaking medical victories are likely to emerge.
Medical Cannabis is a better alternative of painkillers – start zero side-effect treatment by clicking the button below!
Medical Marijuana Reducing Healthcare Costs
According to statistics from the Centers for Disease Control and Prevention, the estimated economic costs of cigarette smoking between 2009 and 2012 totaled $289 billion. Medical care alone accounted for $133 billion of that number as a direct consequence of smoking cigarettes. Alcohol, which is another legal intoxicant, was estimated to cost the US economy about $223.5 billion in 2006 alone.
Medical marijuana use has been considered a safer alternative to cigarette and alcohol use, despite the numerous myths that have persisted for generations. As more studies are done and reliable data availed, things could change positively for the healthcare industry. Moreover, medical cannabis provides numerous disease-fighting properties. As prescription drug prices continue to climb through the roof, it might be about time to make enormous savings in healthcare expenditures. There is enormous evidence that supports the belief that medical cannabis can actually help fight cancer and treat a myriad of other conditions such as eating disorders and narcolepsy.
The cannabis industry has opened up numerous opportunities for both the biotech and pharmaceutical industries. As more and more innovative products are released into the market, it’s becoming certain that medical trials will continue to provide conclusive evidence that THC and CBD compounds have a lot to bring to the healthcare sector. However, the regulatory framework around the subject of medical marijuana will play a critical role in ensuring mainstream adoption. Luckily, many governments around the world are increasingly realizing the benefits of medical cannabis, a move that will significantly expand the CBD market.
Get Your Medical Marijuana Card Today!
If you’re considering marijuana products for medical use, it’s important to get a legal medical marijuana card. Even if you’re in a part of the country where recreational marijuana is legalized, it is still a good idea to get hold of a marijuana card to give you the right to keep a larger quantity of cannabis for personal use.
Discover amazing benefits of Medical Cannabis by clicking the button below!
At MMJ Doctor, we offer medical marijuana cards online. Our licensed MD will evaluate your application and recommend the right medical marijuana products based on your individual needs. Simply complete the application online. Answer the simple questions we ask, and receive your recommendation online. With our medical cannabis card, you can legally purchase marijuana products from any licensed dispensary in your state.
Contact us today to begin the process or to schedule a consultation with our licensed doctor.