A recent survey conducted by HelloMD and Brightfield Group surveyed 2,400 members of the medical cannabis community in the US and aboard. The report has dropped an impressive bomb about expected cannabidiol (CBD) sales through the end of 2017, with projections of cannabis-derived CBD expected at $176 million and hemp-derived CBD to top $291 million. But that’s not all.
Close to half of the CBD users surveyed – some 43% – have stopped using traditional medications in favor of CBD-based products. Four out of five CBD users described these products as either “more effective” or “much more effective” at providing relief from their medical conditions than over-the-counter options.
The Benefits of CBD
CBD products are effectively treating depression, anxiety, joint pain, insomnia, migraines, arthritis and nausea, all without the psychoactive effects of the cannabinoid THC. And, research shows that CBD can offer protection to brain cells in neurodegenerative diseases including Parkinson’s disease, certain forms of dementia and Alzheimer’s. It also effectively reduces epileptic seizures by moderating certain chemicals found in the brain.
The lack of psychoactive effects in CBD makes it a viable treatment option for both children and senior citizens dealing with a variety of medical conditions.
Another Brightfield Group report predicts the CBD oil market will hit $1 billion by 2020 – and given the successes to date and the flurry of research already underway, it’s not hard to believe.