Fueling The Scientifically-Driven Approach In A Crowded CBD Market
The rise of new holistic treatments and remedies in popular culture are, unfortunately, typically accompanied by snake oil salesmen pitches and an emerging market rife of false advertising and capricious product origins. Welcome to the contemporary demand for CBD-infused products.
Cannabidiol (CBD), the natural oil cannabinoid extract of the cannabis plant, a molecule of the plant that has shown therapeutic promise without the “high,” has been at the center of an unprecedented race among competing startups offering a “panacea” to everything from anxiety to arthritis pain. Fueling a reported market for CBD oil products projected to reach $3.86 billion by 2025, growing by a CAGR of 39.5 percent since 2018, it is easy to see why there is so much hype around the once overlooked component of the cannabis plant famous for its sister constituent -- THC.
However, despite the early warning signs that the CBD mania is on a trajectory for too much speculation followed by underperformance, there are some intriguing signs that tangible applications of the extract may make their way into modern medical pathways.
“There is an overall lack of formalized studies and clinical pathways to the actualization of legitimate CBD products in the commercial market,” details Layne Beal, CEO of Viridian Pharmaceuticals, a firm focused on developing safe and effective delivery of natural therapeutics through the skin using topical creams. “To help legitimize the science of this molecule, we are investigating how our proprietary delivery technology coupled with CBD works for specific indications in our planned clinical trials.”
Beal’s sentiment reflects a broader market perspective by medical professionals, who view CBD treatments as intriguing, but nonetheless, preach temperance in its applications as the community learns more about its effects. That’s where Viridian is seeking to make an impact, with a scientifically-driven approach to a crowded CBD market.
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