United States Minor Cannabinoids (CBG, CBC, CBN, THCV, CBGA) Markets Report 2021-2028 – ResearchAndMarkets.com

CANNANNEW REPORT

DUBLIN–(BUSINESS WIRE)–The “U.S. Minor Cannabinoids Market Size, Share & Trends Analysis Report by Product (CBG, CBC, CBN, THCV, CBGA), by Application (Pain Management, Neurological Disorders), and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering. The U.S. minor cannabinoids market size is expected to reach USD 26.2 billion by 2028, at a CAGR of 20.1% The rising use of cannabinoid-based products and increasing awareness regarding their health benefits are the major factors boosting the growth of the market. Based on the product, Tetrahydrocannabivarin (THCV) dominated the market with a revenue share of over 24.0% in 2020. This high share is attributable to the rising adoption of THCV for various applications such as epilepsy, arthritis, metabolic disorders, neurological disorders, and pain management. In addition, rising strategic initiatives by key players in the form of collaborations, clinical trials, and production are further contributing to increasing awareness and adoption of THCV products. For instance, an ongoing clinical trial, initiated in April 2021, analyzing the utilization of products, such as THCV, CBDV, and CBD-rich hemp oil, on the treatment of androgenetic Alopecia. Such instances are projected to fuel market growth over the forecast period. In 2020, based on application, the others segment accounted for the largest revenue share. Some of the health conditions included in other segments are metabolic disorders, arthritis, dermatological conditions, diabetes, cardiovascular diseases, and glaucoma. This high share is attributable to the increasing utilization of minor cannabinoid-based products for such conditions and rising research for signifying their benefits in improving health. For instance, as of June 2021, InMed Pharmaceuticals, Inc., a clinical-stage company known for the pipeline development of products concerning rare cannabinoids, has initiated a clinical trial for analyzing the utilization of CBN-based topical cream for the treatment of Epidermolysis Bullosa. Rising clinical trials is thus anticipated to boost…

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Source : United States Minor Cannabinoids (CBG, CBC, CBN, THCV, CBGA) Markets Report 2021-2028 – ResearchAndMarkets.com

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