Background
01. History of Cannabis
Cannabis is a plant-based product with a long and colourful history. It has origins tracing back to the ancient world with evidence suggesting its use more than 5,000 years ago in what is now Romania. As far back as 2800 BC, cannabis was used to treat a vast array of health problems. From there, it was used as a patent medicine during the 19th and early 20th centuries, described in the United States Pharmacopoeia for the first time in 1850.
Federal restriction of cannabis use and sales first occurred in 1937 with the passage of the Marihuana Tax Act. Subsequent to the act of 1937, cannabis was dropped from the United States Pharmacopoeia in 1942, with legal penalties for possession increasing in 1951 and 1956 and prohibition under federal law. Beyond criminalization, these legislative actions contributed to creating limitations on research by restricting procurement of cannabis for academic purposes.
In 1996 California became the first state to legally allow doctors to prescribe cannabis for medical purposes. In 2012, CBD—the non-psychoactive compound in cannabis that is believed to have a number of health benefits—was shown to alleviate symptoms of schizophrenia in patients comparable to a conventional antipsychotic drug.In 2016, Australia legalised medical cannabis and its cultivation for medicinal purposes, and in 2017, CBD was demonstrated to reduce seizures in childhood epilepsy in a placebo-controlled trial.
Federal restriction of cannabis use and sales first occurred in 1937 with the passage of the Marihuana Tax Act. Subsequent to the act of 1937, cannabis was dropped from the United States Pharmacopoeia in 1942, with legal penalties for possession increasing in 1951 and 1956 and prohibition under federal law. Beyond criminalization, these legislative actions contributed to creating limitations on research by restricting procurement of cannabis for academic purposes.
In 1996 California became the first state to legally allow doctors to prescribe cannabis for medical purposes. In 2012, CBD—the non-psychoactive compound in cannabis that is believed to have a number of health benefits—was shown to alleviate symptoms of schizophrenia in patients comparable to a conventional antipsychotic drug.In 2016, Australia legalised medical cannabis and its cultivation for medicinal purposes, and in 2017, CBD was demonstrated to reduce seizures in childhood epilepsy in a placebo-controlled trial.
02. Current State of the Market
Cannabis is a hot topic right now, and it's not just because people are using it for recreational use.
The global cannabis pharmaceuticals market size was valued at USD 943.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 104.2% from 2022 to 2028. That's because wide-scale applications of cannabis in various medical applications are driving the market—and that means you can expect to see more research done on its potential uses in the coming years.
For instance, medical cannabis is legal in countries such as the U.S., Canada, the U.K., Croatia, Czech Republic, Cyprus, Columbia, Chile, Australia, Barbados, Denmark, Finland, Poland, and Portugal among others. Moreover, a continuous political movement supporting cannabis legalization is driving the market for cannabis pharmaceuticals.
The global cannabis pharmaceuticals market size was valued at USD 943.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 104.2% from 2022 to 2028. That's because wide-scale applications of cannabis in various medical applications are driving the market—and that means you can expect to see more research done on its potential uses in the coming years.
For instance, medical cannabis is legal in countries such as the U.S., Canada, the U.K., Croatia, Czech Republic, Cyprus, Columbia, Chile, Australia, Barbados, Denmark, Finland, Poland, and Portugal among others. Moreover, a continuous political movement supporting cannabis legalization is driving the market for cannabis pharmaceuticals.
03. The Benefits of Medicinal Cannabis
We believe in the power of cannabis as a medicine. A 1999 report from the National Academies of Sciences, Engineering, and Medicine supported its use in medicine, leading to a number of regulatory medical colleges providing recommendations for its prescription to patients.
Our company was founded to support patients in their quest to find relief from symptoms and conditions that have been difficult to treat with traditional therapies.
We encourage you to be proactive about your health, and explore the many ways you can use medical cannabis to help you feel better. We want you to know that it's okay to ask questions and seek out the resources you need to make informed decisions about your treatment plan. Our team is here for you, ready to answer any questions that come up along the way.
Let us help you get started today!
Our company was founded to support patients in their quest to find relief from symptoms and conditions that have been difficult to treat with traditional therapies.
We encourage you to be proactive about your health, and explore the many ways you can use medical cannabis to help you feel better. We want you to know that it's okay to ask questions and seek out the resources you need to make informed decisions about your treatment plan. Our team is here for you, ready to answer any questions that come up along the way.
Let us help you get started today!