Cannabidiol is active ingredient of cannabinoids which extracted from hemp or from marijuana. It is 21-carbon terpenophenolic compound with non psychoactive effect. Cannabis sativa plant is a main source of cannabidiol. Cannabis consist more than 100 chemical compounds including cannabidiol. Cannabidiol holds no of therapeutic benefits such as anti-oxidant, neuroprotective properties. Pharmacologically cannbidiol is a broad spectrum drug. It is used for treatment of various anxiety and depression related disorder, chronic pain, cancer, and other disorders.
Cannabidiol (CBD) market has various driving factors such as increasing use of cannabidiol for preparation of skin care products, medicines, supplements, and beverages. Increasing drug approval activities expected to grow cannabidiol (CBD) market growth. For instance, in June 2018, cannabidiol containing drug (Epidiolex) approved by U.S.FDA (Food and Drug Administration). Epidiolex is an oral solution which used for the treatment of Lennox-Gastaut syndrome and Dravet syndrome. These are the types of severe epilepsy.
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Various key competitors are manufacturing cannabidiol (CBD) products including
Canopy Growth Corporation, CBD American Shaman, CV Sciences, Inc., Elixinol, Folium Biosciences, Isodiol International Inc, NuLeaf Naturals, LLC, Gaia Botanicals LLC, and IRIE CBD
Lacking of knowledge about the CBD is the major restraining factor for the growth of cannabidiol (CBD) market. Illegal selling of cannabidiol containing drug may hamper the cannabidiol (CBD) market growth. In November 2019, U.S FDA sent warning letters to many companies who are engaged in illegal selling of cannabidiol containing products. High profit margin in the cannabidiol containing product is expected to propel the cannabidiol (CBD) market growth.
Cannabidiol (CBD) market is segmented into various regions such as North America, Europe, Latin America, Asia Pacific, Middle East and Africa.
Cannabidiol (CBD) Market is segmented on the basis of Source such as Hemp, and Marijuana, by dosage form including Solid, Liquid. Liquid dosage forms consists concentrated oil and creams, by application anxiety, depression, neurogenerative, disorders, and chronic pain, and by region including North America, Europe, Latin America, Asia Pacific, Middle East and Africa.