Medical Cannabis Market Share

Medical Cannabis Market Share Analysis

Many people around the world are dealing with chronic diseases like chemotherapy-induced nausea and vomiting, epilepsy, spasticity linked to multiple sclerosis or spinal cord injury, fibromyalgia, and glaucoma. As these conditions become more widespread, there is a growing need for medications based on cannabis because there is substantial evidence suggesting that cannabis can be an effective treatment for various diseases.

Furthermore, using medical cannabis has shown benefits in improving the outlook for certain diseases. For instance, Dronabinol (Marinol), a THC-based gelatin capsule developed by Solvay Pharmaceuticals in Belgium, has received approval from the US FDA for treating nausea and vomiting caused by cancer chemotherapy. It is also sanctioned for patients with AIDS experiencing weight loss and poor appetite. Another example is Cesamet (nabilone), initially created by Eli Lilly and Company in the US, which is prescribed for nausea and vomiting related to cancer chemotherapy. According to a study published in May 2019 in the Lancet Oncology journal, the number of patients requiring chemotherapy is estimated to rise by 53% from 2018 to 2040.

A study published in June 2020 in the Yale Journal of Biology and Medicine focused on testing cannabis flower for its potential in treating depression symptoms. The findings indicated that many patients using cannabis experienced antidepressant effects. While there is moderate or low-quality evidence for cannabinoids being effective in treating other chronic conditions, the increasing number of studies conducted so far suggests that the rising prevalence of chronic diseases will significantly impact the growth of the market.

In simpler terms, a lot of people worldwide are dealing with long-term health issues like nausea from chemotherapy, epilepsy, and other conditions. As these health problems become more common, there is a greater demand for medicines made from cannabis because evidence shows that cannabis can help treat these diseases.

Additionally, using medical cannabis has shown positive effects in improving the outlook for certain diseases. For example, there are medications like Marinol, a capsule containing THC, approved to treat nausea and vomiting caused by cancer chemotherapy. Another medication, Cesamet, is prescribed for similar issues related to cancer treatment. A study predicts that more people will need chemotherapy in the coming years.

A study also found that using cannabis may help with symptoms of depression. While the evidence for cannabis treating other chronic conditions is not very strong, the growing number of studies suggests that the increasing number of people with chronic diseases will have a big impact on the growth of the cannabis medicine market.