Cannabidiol – which is commonly known as CBD is the well-known non-psychoactive compound found in the Cannabis plant. The Cannabis product was viewed as a threat to the Pharma Industry because of the competition within certain areas of therapy such as pain management. But as the derivatives around marijuana have begun to clear, the Pharma Companies are getting to take a hit to the high growth of the CBD industry.
Moreover, the CBD product in the UK is booming as people are spending their huge cost on CBD products mostly to treat certain illnesses such as pain, anxiety, depression, sleep issues, and many more. In addition, a recent study for CBD has come out with an explosion of dietary supplements touting various therapeutic uses for the molecule.
According to the data, by 2025 it has been predicted that the market value will rise usually by rising belief in the usefulness and effectiveness of Cannabis compounds.
CBD skincare is providing an area of interest to people as they are more likely to buy the product because of its benefits. In the recent market, the marijuana industry is also set to become a significant part of the health sector as they keep providing new products to the consumer based on their research.
Pharma Companies worry about CBD
CBD has excellently changed the way of understanding the division of the treatment. It provides a single possible solution to certain problems which the pharmaceutical industry has never been able to come up with. Due to its natural properties, it is beneficial for our body as well as for the skin.
Further, Pharmaceutical companies are in a position to see the takeover of CBD from the two sides. Firstly, on the offensive side where they have to create a CBD drug that works in a traditional Pharmaceutical model in a way to protect the high prices with comprehensive patent protection. On the contrary, the defensive side of CBD is the widespread availability of cheaper CBD treatment that will be increasing as there is huge effectiveness of the product among the people.
Potential To Disrupt Pharmaceuticals
Multiple studies have already shown the importance of cannabinoids against a wide variety of indications. Along with the certain health benefits of cannabinoids, a new biosynthesis production Produces cannabinoids at 75% to 90% less than the current market cost. It results in a breakthrough Pharmaceutical grade rare cannabinoids which are significantly cheaper as they have less impact on the environment.
Moreover, the traditional method of producing cannabinoids through the plants can be harmful but with the help of biosynthesis, it is produced safely and most effectively as they have the same molecules, which occurs in nature with them.
Despite this through biosynthesis pharmaceutical companies are amazingly positioning to be a major role in the cannabinoid space and due to making rare cannabinoids cheaper and safer, it has given pharmaceutical companies more incentive to use them. Consequently, pharmaceutical companies can also get insurance reimbursement.
Is CBD a Threat to Pharmaceutical companies?
No doubt, cannabidiol (CBD) is increasingly popular and showing its health and wellness trend. The compound is found naturally in the Cannabis plant and is added to many products to reduce certain kinds of illnesses.
CBD products are hugely unproven and unregulated. Even though, companies are working to create CBD molecules to develop Pharmaceutical therapies so that they can be used effectively and efficiently by consumers.
Further, a wide range of sales of Pharmaceutical products have already closed and even some parts of the market especially in skincare and fitness are already filled with CBD products that work as amazing as pharmaceuticals.
Research Can Be A Threat
Cannabis is spreading multiple therapeutic benefits and due to the restrictions on research and the lack of funding means only a brave scientist has had a taste of cannabis research. Most of the cannabis research is owned by NIDA and if you find information on the website you will find that the researcher is more concerned with finding the harmful effect of Cannabis instead of the potential benefits.
Despite this, some people are afraid of using Cannabis because they don’t have any knowledge about it. But knowing about prescription opioid medications may change the way people approach using Pharmaceutical medications.
Above all, the biggest challenge that pharmaceutical industries are facing is that the shift from sales and marketing to an access-driven commercial model where it is getting harder and more ruthless for the pharmaceutical industry in the commercial atmosphere. Additionally, Healthcare analytics is also facing data evolution, therefore, it has become more difficult for pharmaceutical companies to take over CBD.
Along with it, before curing any condition with medical marijuana you should consult with your doctor. As we all know that a medical Cannabis is really helpful in treating pain and anxiety and some other common conditions such as migraines, depression, nausea, loss of appetite, and many others but it is always the safest choice to speak with your doctor before consuming it because most of the time your medical condition depends on the place you live in.