CBD Medical Cannabis Is Set To Disrupt These 5 Markets Worth Over $100B In Annual Sales by 2025
CBD Oil derived from cannabis, otherwise known as medical cannabis, is set to disrupt many different markets in the global health economy. With legalization of medical cannabis taking place in evermore jurisdictions, it won’t be long before it is legalized in almost every country in the world. Here are just 5 markets that will generate over $100B+ of sales in 2025 that are set to be disrupted by medical cannabis:
- Arthritis – worth $42.8B in 2023
- Chronic pain – worth $35B per year in 2025
- Anxiety – worth $18.3B by 2023
- Epilepsy – worth $9.5B in 2022
- Insomnia – worth $4B in 2025
The current market value of $590M. Brightfield Group expects the CBD medical cannabis oil market to reach $22B in 2022, which represents a Compound Annual Growth Rate (CAGR) of 234%!
Medical Cannabis Will Disrupt The $42.8B Per Year Arthritis Treatment Market
Arthritis essentially just means inflammation of the joints. The term is used interchangeably to describe around 200 different conditions that affect joints and involve varying degrees of inflammation that affect joints and the tissues that surround the joint. Arthritis is the leading cause of disability in the United States, affecting over 50 million people.
Currently arthritis is treated with a variety of methods from analgesics, to nonsteroidal anti-inflammatory drugs (NSAIDs), to disease-modifying antirheumatic drugs (DMARDs), to biologic modifiers and corticosteroids.
How CBD medical cannabis treats arthritis:
CBD treatments for arthritis come in the form of creams or gels that can be applied to the skin and oral treatments in the form of capsules or as an oral spray. The effect of these treatments are two-fold: (1) they reduce the pain associated with arthritis, and (2) they reduce inflammation.
Medical Cannabis Will Disrupt The $35B Per Year Chronic Pain Treatment Market
Chronic pain describes pain that lasts a long time, typically longer than 12 weeks, though the amount of time is somewhat arbitrary. Chronic pain is currently treated through a variety of medications, the leading of which are opioids such as OxyContin or Percocet. Other medications include Nonsteroidal anti-inflammatory drugs (NSAIDs) such as Ibuprofen, Acetaminophen such as Tylenol, COX-2 inhibitors such as Celebrex, and Antidepressants.
How CBD treats chronic pain:
The Chinese started using cannabis to treat joint pain as early 2900 BC. As mentioned above in the arthritis section, CBD oil can be used as creams or gels to be applied to the skin. It can also be taken orally in the form of capsules or in the form of a spray. Cannabis works to reduce inflammation and also attaches itself to pain receptors in the body and turn on pain inhibition.
CBD Oil Will Disrupt The $18.3B Per Year Anxiety Treatment Market
Anxiety, when treated as a formal disorder, is a category of mental health that deals with debilitating levels of nervousness, fear, apprehension and worry. Panic attacks are a feature of many anxiety disorders and reflect a type of fear response. Types of anxiety disorders range from Separation Anxiety, to different Phobias, to Generalized Anxiety Disorder and Obsessive-Compulsive Disorder.
Anxiety is treated with a variety of medications from Antidepressants such as Selective Seratonin Reuptake Inhibitors (SSRIs) and Selective Norepinephrine Reuptake Inhibitors (SNRIs), to Buspirone, to Benzodiazepines, to Beta Blockers.
How Medical Cannabis treats anxiety:
Cannabis is well-known for its “relaxation” effects. Specifically the way CBD interacts with the body’s endocannabinoid system makes it an ideal and effective treatment for a variety of anxiety disorders. Taken orally as a capsule or as an oral spray, medical cannabis has proven effective in many studies. A 2011 study published in the Journal of Neuropsychopharmacology, for instance, showed that CBD reduces the anxiety induced by simulated public speaking in treatment of social phobia patients.
CBD Medical Cannabis Will Disrupt The $9.5B Per Year Epilepsy Treatment Market
Epilepsy is a common brain disorder characterized by recurring and unpredictable seizures. Epilepsy medications are typically anticonvulsant / anti-seizure medications such as Carbamazepine or Ethosuximide.
How CBD treats epilepsy:
CBD oil taken as drops orally for the treatment of epilepsy. CBD oil has been shown to work where traditional medications have failed. It reduces seizures and improves quality of life.
CBD Medical Cannabis Will Disrupt The $4B Per Year Insomnia Treatment Market
Insomnia describes the habitual inability to sleep or difficulty in getting to sleep. Medications range in strength and efficacy and include Antidepressants, Antihistamines (used mainly in over-the-counter sleep aids), Benzodiazepines such as Xanax, Eszopiclone, and Zolpidem such as Ambien.
How CBD treats insomnia:
CBD treats insomnia through the use of CBD oil drops taken orally. It can also be taken in capsule form or as an edible chocolate or gummy. The effect is one of relaxation that leads to sleep. This works for similar reasons to why CBD medical cannabis oil works for the treatment of anxiety, namely its interaction with serotonin receptors and GABA receptors in the brain. GABA is the main neurotransmitter that calms excess activity and promotes relaxation.
Take together the markets for medication of Arthritis, Chronic Pain, Anxiety, Epilepsy and Insomnia alone will account for over $100B in annual sales in 2025. All are ripe for disruption by CBD medical cannabis, which will see its own market grow from half a billion to over $22B by 2022 and keep growing beyond that. Clearly the CBD medical cannabis market is one to watch!