Honeycombbong: Medical Cannabis Data Shows Strong Sales and Growth

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New York City, November28, 2017/ PRNewswire/–

According to a research study released by Hexa Research, the United States medical marijuana market size was valued at USD 5.44 billion in 2016, and is anticipated to be valued $1948 billion by2024 The medical marijuana market is still in phase of advancement and is anticipated to grow considerably throughout the projection duration owing to increasing customer need. Consumer mindset to the herb is continuing to move in a favorable instructions in part thanks to its medical advantages for Arthritis, Migraine, Cancer and more. In the USA it’s approximated that more than 50 million grownups and 3 million kids have arthritis. The need for medical marijuana for arthritis alone is anticipated to grow at a CAGR of 17.8% over the forecasted duration. Veritas PharmaInc ( OTC: VRTHF), GW Pharmaceuticals plc (NASDAQ: GWPH), 22 nd Century GroupInc (NYSE: XXII), Cara TherapeuticsInc (NASDAQ: CARA), Cannabis Sativa,Inc (OTC: CBDS)

GiadhaAguirre De Carcer, CEO and Founder, New Frontier Data, described, “The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals.”

VeritasPharma Inc.( OTC: VRTHF) likewise noted on the Canadian Stock Exchange under the Ticker ‘VRT’. Just revealed breaking news previously today that, “its research arm, Cannevert Therapeutics Ltd. (” CTL”) filed a provisional patent application to US Patent and Trademark Office (the ” USPTO”) on September13, 2017 for usage of a particular marijuana stress to improve the actions of opioid analgesics. An recognition letter from the USPTO was gotten just recently which offered a filing variety of United States 62/558,021 for this application.

Opioids are compounds that are originated from the opium poppy plant. They bind to the body’s own opioid receptors to supply discomfort relief or ‘analgesia’ for clients with persistent or intense discomfort when recommended lawfully; morphine is an example opioid analgesic. Use of these drugs for a quick time is thought about safe for discomfort management. However, when they are overprescribed and/or regularly misused, they produce a sense of ecstasy in addition to easing discomfort. Hence, substance abuse can take place regardless of utilizing them as recommended over extended durations with the capacity of deadly overdose. Opioid overdose added to more than 33,000 deaths in 2015 inning accordance with United States Centers for Disease Control andPrevention Heroin and fentanyl are the most well-known opioids for their prohibited, recreational usage, abuse capacity and deadly overdoses. Cannabis includes compounds called cannabinoids that appear to bind to body’s own cannabinoid receptors to likewise produce comparable results to those of the body’s opioids in moderating analgesia and behavioral results. However, they do not have the very same substance abuse or overdose capacity. When opioids and cannabinoids are integrated, they appear to enhance each other’s results synergistically. Therefore, the mix might permit opioids to be utilized at lower dosages with less negative effects for the treatment of discomfort and associated dependency. AccordingCoherent Market Insights *, the international opioids market was roughly USD $17 b in 2015 and is anticipated to reasonably increase to near USD $26 b in2024 It shows that legal marijuana is anticipated to affect the opioids market development as it gets embraced as a safe alternative discomfort easing treatment to opioids and it is significantly being utilized to attend to associated dependency. According to the World Drug Report 2016, roughly 17 million individuals struggled with opioid substance abuse.

Veritas CEO,Dr LuiFranciosi specified, “We are pleased with Cannevert’s most current submission to secure its discovery of a marijuana stress that might possibly minimize the dosage and negative effects of scientifically utilized opioids while keeping an excellent discomfort easing result for clients.” Dr. Franciosi goes on to say, “This stress might be likewise possibly beneficial in attending to the present fentanyl crisis throughout NorthAmerica If we’re targeting discomfort or opioid dependency, we wish to provide a clinically checked, standardized item that clinicians can trust …”

GW Pharmaceuticals plc(NASDAQ: GWPH) is a biopharmaceutical business concentrated on finding, establishing and advertising unique therapies from its exclusive cannabinoid item platform in a broad variety of illness locations. On November21, 2017, the business, in addition to its United States subsidiary Greenwich Biosciences, revealed that brand-new arise from finished Phase 3 trials of Epidiolex ® (cannabidiol or CBD) in Lennox-Gastaut syndrome (LGS) and Dravet syndrome, in addition to other encouraging information, will exist at the American Epilepsy Society (AES) Annual Meeting, December 1-5, 2017, in Washington D.C.Epidiolex, GW’s lead cannabinoid item prospect is a pharmaceutical solution of cleansed cannabidiol (CBD), which remains in advancement for the treatment of a number of uncommon childhood-onset epilepsy conditions.

22 nd Century Group Inc.(NYSE: XXII) is a plant biotechnology business concentrated on genetic modification and plant breeding which enables the boost or reduction of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis/hemp plants. The Company’s main objective in marijuana is to establish exclusive hemp/cannabis stress for essential farming crops and brand-new medications. n September2014, 22 nd Century’s wholly-owned subsidiary, Botanical Genetics, LLC, participated in an around the world license arrangement with Anandia LaboratoriesInc Under the regards to the arrangement, our Company was approved an unique sublicense in the United States and a co-exclusive sublicense in the rest of the world, leaving out Canada, to patents and patent applications connecting to the marijuana plant that are needed for the production of cannabinoids, the significant active components in the marijuana plant. The Anandia sublicense continues through the life of the last to end patent, which is anticipated to be 2035.

CaraTherapeutics Inc.(NASDAQ: CARA) is a clinical-stage biopharmaceutical business concentrated on establishing and advertising brand-new chemical entities developed to reduce discomfort and pruritus by selectively targeting peripheral kappa opioid receptors. Cara is establishing lead particles that selectively regulate peripheral CB receptors without targeting CNS cannabinoid receptors. Cara’s most innovative CB substance, CR701, remains in preclinical advancement.Dr Joseph Stauffer CMO Cara Therapeutics: “CannabinoidReceptor Agonists like CR701 have the possible to supply better discomfort relief for clients experiencing neuropathic discomfort.”

CannabisSativa, Inc.(OTCQB: CBDS) is participated in the licensing of marijuana associated copyright, marketing and branding for marijuana based services and items, operation of marijuana associated innovation services, and secondary organisation activities. On August 2, 2017, the business revealed that it has actually obtained a managing interest in PrestoCorp, an online telemedicine platform offering access to educated doctors for a private and safe method to obtain a medical cannabis suggestion utilizing safe and secure video conferencing innovation. Appointments through PrestoDoctor’s site are normally finished in 10-15 minutes, and can be set up and finished in the very same day. This benefit removes the requirement for clients to take a trip to an in-person visit or wait in line at a center.

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