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CBD Industry Set to Continue BoomingSalem-News.com Cannabis De-Classified
The 2018 Farm Bill removed cannabis and cannabis derivatives that are very low in THC from the definition of marijuana in the Controlled Substances Act (CSA).
(SALEM, Ore.) - The Cannabidiol (CBD) industry has boomed massively in recent times and it is a trend that looks set to continue over the coming years. Products containing CBD oil have become popular natural remedies, with people using them to treat numerous common ailments.
Although part of the cannabis family, CBD contains none of the psychoactive properties usually associated from that particular line.
Research has shown that CBD can reduce inflammation and chronic pain, working particularly well as a treatment for conditions such as multiple sclerosis and arthritis.
CBD oil has also been found to be an effective antidote against anxiety and depression, and has numerous benefits in respect of heart health.
It can also alleviate the side effects related to cancer treatment, and helps to speed up recovery from intensive physical activity. Read on as we take a look at the CBD industry.
Researcher extols the virtues of CBDVarious studies have shown that CBD can have a positive impact on different conditions, potentially making it one of the most exciting developments in medicine in recent times.
Researcher Adie Rae, Ph.D, is a neuroscientist who studies the ability of cannabis to enhance the pain-relieving effects of opioids, while minimizing their dangerous side effects. She believes CBD has many benefits.
“There are many kinds of joint pain, but one of the most common sources of pain is arthritis,” Rae told Weedmaps.
“Both rheumatoid and osteoarthritis patients report using topical CBD oil to manage their symptoms.
"The true efficacy of these products has not been studied in clinical trials, but in animal models of arthritis, topical CBD effectively reduces pain and inflammation.”
While acknowledging that CBD offers effective pain relief, Rae insists that there is still work to be done regarding dosages and regulatory guidelines.
“An important consideration for patients choosing to explore topical CBD for joint pain is the formula or make-up of the product,” she added.
“Some CBD oils are diluted in carrier oils that are not very compatible with the skin, whereas other plant-derived oils can enhance skin penetration (jojoba oil, for example). “Also, eucalyptus, rosemary, and citrus oils have been shown to increase the skin penetration of other medications, so topical CBD products that also contain these ingredients could yield better results.”
Businesses set to cash in on CBD boom
According to a study conducted by Market Research Future, the worldwide CBD industry could top $5 billion by 2025. That figure would represent a massive increase, with the market worth just over $460 million in 2018.
Investments by businesses coupled with new legislation and demand for better CBD oils is expected to power the growth and deliver huge revenues to manufacturers of CBD products.
CBD American Shaman, IrieCBD, Isodiol International Inc., Medical Marijuana Inc., Bluebird Botanicals Ltd., CV Sciences Inc., Canopy Growth Corporation (Canada), and Aurora Cannabis (Canada) are among the companies who could benefit.
The CBD oil market is split into four main regions - the Americas, Asia Pacific, Europe and Rest-of-the-World.
The Americas were responsible for the biggest market share in 2017, returning over 78 percent of the revenues in the industry. That ranking is unlikely to change as the market grows, particularly with people in the Americas being the driving force behind the use of products containing CBD oil.
Capsules, oils, topicals and gummy products are among a wide range of ways CBD oil can be ingested and companies seem sure to develop more over the next few years.
FDA ‘Committed to Sound, Science-based Policy on CBD’The legal position relating to CBD remains in flux, with the US Food and Drug Administration (FDA) still working towards establishing a regulatory framework.
There have been changes in legislation in selected states regarding cannabis-derived compounds, while at federal level the 2018 Farm Bill removed cannabis and cannabis derivatives that are very low in THC from the definition of marijuana in the Controlled Substances Act (CSA).
However, the FDA is still evaluating its position on the CBD industry and is conducting extensive research that will inform future decisions.
Amy Abernethy, M.D., Ph.D., Principal Deputy Commissioner, and Lowell Schiller, J.D., Principal Associate Commissioner for Policy, recently published a statement that clarified the FDA’s position.
“While the Agency continues to believe that the drug approval process is the best way to ensure the safety of new drugs, including those made with CBD, the Agency is committed to evaluating the regulatory frameworks for non-drug uses, including products marketed as foods and dietary supplements,” it read.
“We remain steadfast in our effort to obtain research, data, and other safety and public health input to inform our approach and to address consumer access in a way that protects public health, maintains incentives for cannabis drug development, and creates a robust administrative record needed to support the initiation of any rulemaking.
“As we learn more, we will continue to update the public about our path forward and provide information that is based on sound science and data."
Source: Salem-News.com Special Features Dept.
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