Synthetic Cannabinoids Market to Create an Absolute Dollar Opportunity of US$ 89 Mn by 2029 End Synthetic Cannabinoids are anticipated to enter growth stage by mid-term forecast. Several biotech startups such as Emerald Health Pharmaceuticals, RespireRx etc are pioneering initiatives for the development of synthetic cannabinoid compounds which will augment the growth of synthetic cannabinoid market. On this backdrop, synthetic cannabinoids are projected to create an absolute dollar opportunity of US$ 89 Mn during forecast period. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4156 Dronabinol as a type of synthetic cannabinoid has maintained its lead in the market and is expected to experience higher growth rate vis-a-vis Nabilone. Dronabinol has superior investment backing which is boosting its uptake in the market. A vast majority of the companies in synthetic cannabinoids market have been focusing on products which are in their clinical trial phase. For instance, TheraPix Biosciences, Tetra Bio-Pharma and Zynerba Pharmaceuticals are some of the companies that are conducting clinical trials for their compounds. Other companies like GW Pharmaceuticals, Kannalife and FSD Pharma are developing synthetic cannabinoids. Such novel initiatives will enable manufacturers to expand their profit pools in the synthetic cannabinoids market. Key Trends of Global Synthetic Cannabinoids Market
Dronabinol type of synthetic cannabinoid accounts for more than 90% market share and is expected to witness a rising growth curve in synthetic cannabinoids owing to novel usage of drugs in several experimental therapies such as arthritis and cancer Nabilone showcases a marginal contribution to global synthetic cannabinoids market and is projected to grow 4.5X over period of forecast 2019 – 2029, due to increased legal and pharmaceutical usage in United States, Canada and Europe. North America synthetic cannabinoids market is projected to hold around two third of market share. However, Asia Pacific and Latin America are projected to grow at a higher CAGR than the global average. Europe synthetic cannabinoids market is the second largest market and is anticipated to hold around 20% market share in terms of value and likely to gain 180 BPS over forecast period 2019 – 2029.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4156 Synthetic Cannabinoids Market: Segmentation FactMR’s study has done the segmentation of synthetic cannabinoids market on the basis of type, and region. Type