A renowned research company, Cognizance Market Research, recently added a cutting-edge market report on the “Global CBD API Market.” The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Global CBD API market Analysis
According to cognizance market research the global CBD API market is expected to register a CAGR of 41.3% from 2023 to 2030.
What is Global CBD API System?
Cannabidiol, sometimes known as CBD, is the second most common active ingredient in cannabis (marijuana). The hemp plant, a related of the marijuana plant, is used to extract CBD, an essential component of medical marijuana, or it can be synthesised in a lab. One of the thousands of substances in marijuana, CBD, does not produce a “high” by itself. In accordance with World Health Organization studies, “In humans, CBD has no psychotropic or habit-forming properties. As of right moment, there are no signs that consuming pure CBD is harmful to the general public’s health.” A number of medical ailments have received CBD recommendations. The greatest scientific data, however, points to its success in treating some of the most severe forms of childhood epilepsy, like Dravet syndrome and Lennox-Gastaut syndrome (LGS), which frequently do not respond to anticonvulsant medications. Research on cannabidiol has focused on a number of neurological disorders. To establish such uses in clinical practise, the findings, however, have not been independently validated.
Global CBD API market Outlook
Natural chemical cannabidiol (CBD) is derived from cannabis. While cannabis contains more than one hundred other cannabinoids, including lesser-known CBN and CBG and tetrahydrocannabinol (THC), CBD is the most well-known. The body’s numerous cell receptors that CBD binds to both directly and indirectly demonstrate the extent of its medical potential. Research on cannabidiol (CBD) is progressing quickly and offers clinical support for the body, mind, and emotions of people. Each cannabinoid has distinct qualities, therapeutic potential, chemical properties, and benefits. Due to its adaptability and tolerance, CBD is regularly extracted and produced into CBD-based oils, tinctures, topical creams, and edibles.
CBD is comparable to other cannabinoids in that it also interacts with the endocannabinoid system (ECS) to create therapeutic effects. All mammals have an intricate cell signalling system called the ECS, which is made up of endocannabinoids and receptors. Many biological systems, including emotion, sleep, and immune response, are regulated by CBD. Because it causes a variety of negative effects, cannabidiol is particularly sensitive to the human body. For the treatment of seizures brought on by Lennox-Gastaut syndrome (LGS), Dravet syndrome, or tuberous sclerosis complex (TSC) in people one year and older, EPIDIOLEX is the first prescription CBD product approved by the FDA. It signifies that its safety and efficacy profile have been thoroughly investigated in clinical investigations.
The global CBD API market has been segmented into product type, indication, and geography. Based on the product type the CBD API market is further segmented into Broad Spectrum CBD, Full Spectrum CBD, CBD isolate, and others. On the basis of indication, the global CBD API market is further sub segmented into Alzheimer’s Disease, Autism, Cancer, Chronic Pain, Epilepsy, Migraine, Multiple Sclerosis, Schizophrenia, and Others.
The North America, Asia Pacific, Europe, Latin America, and Middle East & Africa are the five major geographic regions that make up the global CBD API Market. North America dominated the market in 2021 with a revenue share of over 70% and will keep holding the top spot going forward. Some of the key variables influencing the regional market are the presence of a sizable population of health-conscious individuals, the growing acceptance of CBD-based products, the presence of significant manufacturers, and the ratification of the U.S. Farm Bill in 2020. North America is the most progressive region for cannabis and its by-products, such as cannabidiol. The most CBD businesses are located there, and the laws governing the use of CBD products are lax.
The report offers the revenue of the global CBD API market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global CBD API market for the forecast period. The global CBD API market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the global CBD API market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the global CBD API Market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global CBD API market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the global CBD API market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the global CBD API market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the global CBD API market. The subsequent section of the global CBD API report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global CBD API Market Competitive Landscape
Some of the major companies are:
Pharmaceutical companies have a chance to add another portfolio of medicines to their current pipelines as a result of the increasing number of clinical studies on the CBD to ascertain its efficacy for diverse ailments.
The report explores the competitive scenario of the global CBD API Market. Major players operating in the global CBD API market have been identified and profiled for unique commercial attributes.
Global CBD API Market, by product Type
Global CBD API Market, by indication
Global CBD API Market, by Region
Averix Bio, LLC, Bedrocan, Biosyyd, UAB, BIOVECTRA Inc., brains bioceutical, Colombian Golden, DSM, EndoPure, Eurofins, Folium Biosciences, GVB Biopharma, Jordan Process, KD Pharma Group, Kinetochem, KND Labs
Trends: The increasing acceptance of CBD for medical and wellness purposes in various countries has driven demand for CBD APIs. As more regions legalize or regulate CBD, the market is expanding.
Drivers: An increased awareness of health and wellness, along with a preference for natural remedies, is driving the demand for CBD-based products.
Opportunities: Collaborations with research institutions, pharmaceutical companies, and other stakeholders can lead to the development of new CBD-based therapies and products.
Challenges: The CBD market is becoming increasingly competitive, with many new entrants. Companies need to differentiate their products and establish brand trust.
The CAGR is anticipated to be 41.3% during the forecast period.
The U.S. was one of the leading players in the CBD API market due to its significant production of hemp and cannabis, coupled with a growing demand for CBD products for both medical and wellness purposes. The 2018 Farm Bill legalized hemp cultivation, further boosting the industry.
The pharmaceutical segment had significant potential for growth as researchers were exploring the therapeutic benefits of CBD for various medical conditions. If CBD-based pharmaceuticals gained regulatory approval for specific indications, it could lead to substantial revenue in this segment.
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