Endocannabinoid System Targeted Therapeutics Market is projected to be over USD 5 billion by 2030

by Stella Wilson on Mar 5, 2021 Business 20 Views

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

Roots Analysis has announced the addition of “Endocannabinoid System Targeted Therapeutics Market, 2020-2030” report to its list of offerings.

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.

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%). 

Partnership activity has grown at an annualized rate of 35%, between 2017 and 2019 

The maximum number of partnerships were observed in 2019 within this segment of the pharmaceutical industry. Majority of these agreements were reported to have been inked for research purposes (20%). In addition, more than 35 merger / acquisition deal were signed between 2016 and 2020; service / facility expansion emerged as the most prominent key value drivers for such agreements.

Close to 600 grants were awarded for supporting research on endocannabinoid system targeted therapeutics, since 2016

Almost 45% of the total amount awarded in the form of grants, was under the R01 (in support of health-related research and development based on the mission of the NIH) mechanism. Further, grants (394) worth USD 147 million were awarded to research projects related to endocannabinoid system.

At present, therapies intended for the treatment of neurological disorders represent the majority share of the overall endocannabinoid system targeted therapeutics market

Most of the therapies targeting neurological disorders are intended for the treatment of epilepsy. In addition to neurological disorders, therapies intended for autoimmune disorders, cancer and genetic disorders are likely to capture significant market opportunity in the foreseen future.

The over USD 5 billion (by 2030) financial opportunity within the Endocannabinoid System Targeted Therapeutics Market has been analyzed across the following segments:

Target Disease Indication

  • Cancer
  • Genetic Disorders
  • Neurological Indications
  • Others

Route of Administration

  • Oral
  • Inhalation

Key Geographies

  • North America
  • Europe
  • Asia-Pacific and the Rest of the World

The report features inputs from eminent industry stakeholders, according to whom, endocannabinoid system targeted therapeutics are considered as a promising alternative for the treatment of a diverse array of symptoms associated with a myriad of human diseases. The report includes detailed transcripts of the discussions held with industry experts.

  • Oludare Odumosu (Chief Executive Officer, Zelira Therapeutics)
  • Andrea Small-Howard (Chief Scientific Officer, GB Sciences)
  • Steeve Néron (Chief Operating Officer, Tetra Bio-Pharma)
  • Stephen Dahmer (Chief Medical Officer, Vireo Health)
  • Anthony Kievid (Director of Business Development, Echo Pharmaceuticals)
  • JANAKAN KRISHNARAJAH (Chief Operating Officer and Chief Medical Officer, iX Biopharma)

The research includes detailed profiles of key players (listed below); each profile features an overview of the company, its financial information (if available), drug portfolio, recent developments and an informed future outlook.

  • GW Pharmaceuticals
  • Corbus Pharmaceuticals
  • Tilray
  • Tetra Bio-Pharma
  • Botanix Pharmaceuticals
  • Kalytera Therapeutics
  • Therapix Biosciences
  • Echo Pharmaceuticals
  • Avicanna
  • GB Sciences

For more information, please click on the following link:

https://www.rootsanalysis.com/reports/316/request-sample.html    

About Roots Analysis

Roots Analysis is one of the fastest growing market research companies, sharing fresh and independent perspectives in the bio-pharmaceutical industry. The in-depth research, analysis and insights are driven by an experienced leadership team which has gained many years of significant experience in this sector. If you’d like help with your growing business needs, get in touch at info@rootsanalysis.com

Contact Information

Roots Analysis Private Limited

Gaurav Chaudhary

+1 (415) 800 3415

Gaurav.Chaudhary@rootsanalysis.com

 

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Article source: https://article-realm.com/article/Business/10753-Endocannabinoid-System-Targeted-Therapeutics-Market-is-projected-to-be-over-USD-5-billion-by-2030.html

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