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The Pharmaceutical Cannabis Report: 2nd Edition

  • ID: 5504853
  • Report
  • August 2021
  • Region: Global
  • 64 Pages
  • Prohibition Partners

FEATURED COMPANIES

  • Almirall
  • Bayer
  • Cronos
  • Ginkgo Bioworks
  • GW Pharmaceuticals
  • Novartis

Research on the endocannabinoid system is one of the most promising avenues for new therapeutics in medicine at the moment. However, regulations are constantly shifting. This report has been compiled to assist interested parties in understanding the market for the medical use of cannabinoids and where it may be heading.


In both Europe and the United States, the sales of unapproved cannabis products such as smokable flower and full spectrum oils dwarfs those of approved pharmaceuticals. In Europe however, there is a clear trend towards the use of more precise formulations of unapproved cannabis products as well as pharmaceutical products. In the US, sales of medical flower and vaporised products remain dominant amongst unapproved medicines, but there is also an increase in sales of pharmaceuticals.


The publisher has identified at least 30 late-stage clinical trials using cannabinoid therapeutics, any of which will probably have a large impact on the medicinal cannabis space.


In the medium to long term, the author expects to see the development of a range of new cannabinoid therapeutics approved across the globe. Operators in the space can expect to see these products gradually taking up more of the market share at the expense of unapproved flower and full spectrum oils over the next 10 years.


Findings in The Pharmaceutical Cannabis Report: 2nd Edition include:

  • The author estimate the market size for the three most widely used cannabinoid pharmaceuticals (Epidiolex ®, Sativex ®, dronabinol) to be worth just under €900 million as of 2021, growing to €1.8 billion by 2025.
  • Global surveys of cannabis users indicate that around 40% of users have some medical component to their usage.
  • The current global spend on pain medications worldwide is estimated at US$63-85 billion each year. However, no single cannabinoid drug has received widespread approval in the treatment of pain.

The Market Sizing section provides forecasts on the estimated sales of the major and most lucrative the three most lucrative cannabinoid pharmaceuticals - from 2021-2025 - including Epidiolex®, Sativex® and Dronabinol®. 


The Clinical Trials Database (included only with purchase of PDF + Excel) includes data gathered by systematically searching through clinical trials registries, and identifying the relevant trials that involve cannabinoid pharmaceuticals. It includes 260 clinical trials globally. 


Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Almirall
  • Bayer
  • Cronos
  • Ginkgo Bioworks
  • GW Pharmaceuticals
  • Novartis
  • Executive Summary
  • Definitions
  • Introduction
  • A Case Study on GW Pharmaceuticals
  • Clinical Trials Review
  • Patents
  • New Formulations & Devices
  • Minor Cannabinoids 
  • Synethic Cannabinoids
  • Expert Interviews 
  • Abbreviations
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Almirall
  • Bayer
  • Cronos
  • Ginkgo Bioworks
  • GW Pharmaceuticals
  • Novartis

The use of cannabinoids in the treatment of medical conditions offers major opportunities, but also challenges to anyone operating in the space. Research on the endocannabinoid system is one of the most promising avenues for new therapeutics in medicine at the moment. However, regulations are constantly shifting beneath the feet of operators and their ability to serve patients depends on their capacity to navigate a changing landscape of governance. This report has been compiled to assist interested parties in understanding the market for the medical use of cannabinoids and where it may be heading. 


The majority of medicinal cannabis is currently being prescribed in a medically non-traditional manner, with short patient-doctor interactions and approximate dosing of the active pharmaceutical ingredients e.g. via inhalation of com- busted flower. In both Europe and the United States (US), the sales of unapproved canna- bis products such as smoked flower and full- spectrum oils dwarfs those of approved pharmaceuticals like Epidiolex®, Marinol®, Sativex® and Cesamet® which have been guided through the traditional approvals process. In Europe however, there is a clear trend towards the use of more precise formulations of unapproved cannabis products as well as approved pharmaceutical products. In the US, sales of medical flower and vaporised products remain dominant amongst unapproved medicines, but there is also an increase in sales of pharmaceuticals, mainly Epidiolex®.


Epidiolex® is currently the poster child for a successful cannabinoid pharmaceutical; garnering over €430 million in sales in 2020 and serving an estimated patient population of more than 20,000. The story of GW Pharmaceuticals, the producers of Epidiolex ® , is instructive regarding the challenges and opportunities of operating in the pharmaceutical cannabis space; taking over 20 years to generate considerable sales and facing several set - backs in clinical trials. The fruits of GW’s strategy are obvious however, with sales increasing at a rapid pace, and the recent acquisition of the company by Jazz Pharmaceuticals for over €6 billion. 


The author estimates the market size for the three most widely used cannabinoid pharmaceuticals (Epidiolex ®, Sativex ®, dronabinol) to be worth just under €900 million as of 2021, growing to €1.8 billion by 2025. These figures have much room for growth, as and when, any new cannabinoid therapeutic is approved, or existing medicines become used in new conditions or regions. 


The current medical cannabis market is bursting with innovation. The author has identified at least 30 late-stage clinical trials using cannabinoid therapeutics, any of which could have a large impact on the medicinal cannabis space. Products with new routes of administration, such as metered inhalers and transdermal products, are currently making their way through the approval’s process. Research and development on minor cannabinoids such as Cannabigerol (CBG) and Cannabichromene (CBC) is just beginning, with a lot of therapeutic promise but still with a lack of hard evidence. The market for synthetic cannabinoids produced outside the cannabis plant, is now beginning to gain some maturity, with chemosynthetic products already on the market and several firms producing commercial amounts of Tetrahydrocannabinol (THC) and Cannabidiol (CBD) through biosynthetic processes. 


Many in the medical cannabis space are developing portfolios of patents to protect products and their methods of production. The industry is yet to see a considerable amount of litigation, but this may soon change, as signalled by the case between GW Pharmaceuticals and Canopy Growth over proprietary methods of cannabinoid extraction. In the realm of patents, the looming expiration of market exclusivity on Epidiolex ® could soon offer opportunities to potential producers of generics to supply cheaper alternatives to patients suffering from rare forms of epilepsy. 


Overall, the total potential for the use of medical cannabinoids in the pharmaceutical space has barely been scratched. In the medium to long term, the publisher expects to see the development of a range of new cannabinoid therapeutics approved across the globe. Operators in the space can expect to see these products gradually taking up more of the market share at the expense of unapproved flower and full-spectrum oils over the next 10 years. This will coincide with the liberalisation of adult-use cannabis across North America and Europe which will further distil the use of medical products from flower to more precise formulations.


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  • Almirall
  • Bayer
  • C3 Cannabinoid Compound Company
  • Cronos
  • Ginkgo Bioworks
  • GW Pharmaceuticals
  • Novartis
  • Otsuka
  • PureForm Global
Note: Product cover images may vary from those shown