The endocannabinoid system targeted therapeutics market is projected to be over USD 5 billion by 203
So far, more than 100 different types of cannabinoids have been identified and there is a growing body of evidence supporting the benefits of this class of compounds in offering symptomatic relief for a wide variety of chronic health conditions
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Over time, extensive R&D on the potential health benefits of cannabis, have enabled medical researchers to identify a number of pharmacologically active ingredients that offer clinical benefit, minus the addictive properties of the crude substance. Currently, several stakeholders in the pharmaceutical industry are actively engaged in the efforts to develop leads based on natural and synthetic derivatives of cannabinoids.
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Key Market Insights
Over 175 drugs targeting the endocannabinoid system are currently under development
Most cannabinoid-based drug candidates are being developed to target the CB1 and CB2 receptors. Nearly 45% of such drugs are presently being investigated in clinical trials, while 50% are in the preclinical / discovery phase. Majority of these therapies (60%) are designed for oral administration.
More than 60 companies claim to develop endocannabinoid system targeted therapeutics
Post 2010, there has been a significant rise in the number of companies working in this domain; such companies represent 63% of the total number of players. Majority of the firms engaged in this domain (74%) are based in North America, followed by those headquartered in Asia-Pacific (16%), Europe (8%) and Latin America (2%).
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