Synthetic Cannabinoid Market
Synthetic Cannabinoid Market Scope: Industry
Analysis, Market Size, Growth, Trends Till 2031
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Synthetic Cannabinoid Market Size and Growth
The synthetic cannabinoid market is experiencing significant growth, driven by increasing demand for alternative cannabis products. Market size is projected to reach approximately $2.75 billion by 2027, influenced by factors such as rising recreational use, therapeutic applications, and evolving regulations. Key trends include product innovation and expanding distribution channels.
Companies Covered
(Covid 19 Impact Covered)
◍ Noramco
◍ Hyasynth Biologicals
◍ Insys Therapeutics
◍ CV Sciences
◍ Ginkgo Bioworks
◍ CannBioRx Life Sciences
◍ Renew Biopharma
◍ Lygos (Librede)
The synthetic cannabinoid market features key players like Noramco, Hyasynth Biologicals, and Insys Therapeutics, focusing on innovative cannabinoid production and therapeutic applications. Companies leverage their expertise to develop new products, enhancing market growth through research and collaboration.
Sales revenues of selected companies:
- Insys Therapeutics: $44.5 million (2020)
- CV Sciences: $22.9 million (2020)
- Ginkgo Bioworks: $261 million (2021)
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Market Segmentation
By Application
Pharmaceutical
Consumer Good
Others
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By Product
High-Pure Synthetic Cannabinoid
Ultra-Pure Synthetic Cannabinoid
Market Growth
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$ X Billion USD
