NEW YORK, Jan. 13, 2020 /PRNewswire/ --
Medical Marijuana - Thematic Research
Summary
Marketed and approved medical marijuana products generated sales of at least $50m across the US, the 5EU (France, Germany, Italy, Spain and the UK), Canada, Israel and Australia in 2018. The actual value of this market is expected to be far greater, growing at a compound annual growth rate (CAGR) of 81.3% to reach $3.2bn by 2025. There are 11 medical marijuana products in late-stage clinical trials. Drug candidates Zygel (cannabidiol) and lenabasum are being developed by US biopharmaceutical companies Zynerba Pharma and Corbus Pharma, respectively, and are expected to launch in the US and 5EU markets in 2021.
Read the full report: https://www.reportlinker.com/p05833431/?utm_source=PRN
Both Zygel and lenabasum were granted fast track and orphan drug designation by the US Food and Drug Administration (FDA), and are expected to generate sales of $417m and $771m in 2025, respectively. Contributing to the high sales figures for these late-stage pipeline agents is the fact that Zygel and lenabasum are both being developed to treat multiple disorders from a variety of therapy areas, including genetic disorders, musculoskeletal conditions and autoimmune diseases.
A lot of these patients are children that have a poor quality of life, so the need for effective medicines is urgent.Products entering the market are likely to be well received, especially if there are no psychological side effects, which is a common concern of prescribing physicians and patients alike.
Many of the medical marijuana products in development contain non-psychoactive compounds; a research and development (R&D) strategy designed to position drug candidates favorably when companies apply for marketing authorization from bodies such as the FDA and the European Medicines Agency (EMA).
Aside from the promising prospects for late-stage drug candidates, marketed therapies such as GW Pharma's Epidiolex (cannabidiol) will significantly drive market growth.The impact of Epidiolex has been immense.
The drug, which generated sales of $4.7m in 2018, is expected to reach annual sales of $1.9bn by 2025.
However, unmet needs such as the expensive cost of therapy, the lack of data to support the use of medical marijuana and confusing or non-existent treatment guidelines leave some doctors reluctant to prescribe these products. These factors among others will continue to be obstacles in the medical marijuana marketplace throughout the foreseeable future.
The latest report "Medical Marijuana- Thematic Research" combines key opinion leader insight, interviews with industry experts and surveys of prescribing physicians and consumers in the US, France, Germany, Italy, Spain, the UK, Canada, Israel and Australia to provide an in-depth review of the medical marijuana market.
The report includes an assessment of ongoing clinical trials, the geographical location of trial sponsors, discussion of the key players in the medical marijuana space as well as insights from industry experts discussing market challenges and considerations of stakeholders in the arena.
Key Questions Answered in This Report
- What was the value of the medical marijuana market in 2018?
- What challenges do biopharmaceutical companies developing medical marijuana therapeutics face that are unique to this field?
- Which patients do prescribing physicians think are most likely to benefit from treatment with medical marijuana?
- What are the concerns and perceptions of prescribers and potential consumers of medical marijuana across the nine markets covered in this report?
- What are the unmet needs in the medical marijuana market and what opportunities remain for industry players?
Scope
- Overview of the potential applications of medical marijuana including SWOT analysis of marketed and late-stage pipeline agents
- In-depth analysis of diseases where at least one medical marijuana product is used in clinical practice
- Key topics covered include assessment of strategic consolidations, unmet needs, clinical trial mapping, examination of market opportunities and challenges
- Discussion of late-stage pipeline products including a sales forecast from 2018-2025
- Pipeline analysis: comprehensive data and discussion of emerging trends, the significance of the endocannabinoid system in various conditions, the route of administration of pipeline agents and the markets in which the drugs are expected to launch.
- Analysis of the current and future market competition in the global medical marijuana therapeutics market. Insightful review of the key industry drivers, restraints and challenges. Each trend is independently researched to provide qualitative analysis of its implications.
Reasons to buy
The report will enable you to -
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the global medical marijuana market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the global medical marijuana market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the performance of various competitors.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Read the full report: https://www.reportlinker.com/p05833431/?utm_source=PRN
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