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Cannabidiol, or CBD for short, is a phyto-cannabinoid found in cannabis plants. However, it does not cause the same psychoactive effects as other naturally occurring cannabinoids such as tetrahydrocannabinol, or THC. Research is limited outside of showing that CBD is an anti-inflamatory but CBD users have reported benefits ranging from insomnia to anxiety relief. Legality is an issue for some; all 50 states have laws governing the sale, possession, and use of CBD, and they vary significantly see the table below for a full analysis.
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Cannabis marketing data firm New Frontier Data yesterday hosted a day-long webinar on the effect of the coronavirus COVID crisis on the global cannabis and hemp industries. Webinar segments were separated into discussion topics by geographical region. Pharmaceutical applications of cannabinoids emerged as a dominant topic, especially with experts from countries like Israel, Australia, and the U. In Israel, which has been conducting research studies and clinical trials on cannabis for the last 50 years, many see a bright future for herbal-based pharmaceuticals.
In regard to whether cannabis medications might help patients suffering from coronavirus, Blaicher said that anti-viral cannabis medications might be developed eventually, but—in a familiar refrain—more research is needed. While CBD products may contribute to an overall feeling of physical and mental well-being by supplementing the endocannabinoid system of a patient, there is no cannabis-based medication that specifically treats coronavirus.
Panel experts agreed that, in addition to research, normalization of cannabis-based medicine through education was vital. Cannabis consultant Dr. Joseph Rosado also speculated that CBD or cannabis use for coronavirus may be contraindicated. The anti-inflammatory effects of CBD, he said, are well-established; some pandemic reports suggest that anti-inflammatory medications, like ibuprofen, may actually worsen symptoms and that concern may also affect coronavirus patients who are using CBD products.
The North American segment of the webinar focused on the U. The market with the largest potential for the cannabis industry, according to panel experts, is Asia.
Several webinar speakers noted that, until there is a change on the federal level regarding U. Formulations that use non-psychoactive cannabinoids, terpenes, and compounds extracted from hemp or cannabis may find an easier process for approval. Medicinal products that have already received approval from governmental agencies in countries outside of the U.
Lack of regulation infrastructure for cannabis-based products and medicines, at this point, presents a significant obstacle for global vendors to crack the U. Currently, the only cannabis-based medication approved by the FDA is Epidiolex , a drug manufactured by U.
Some panelists suggested that the FDA take a two-tiered approach to cannabis regulation. Specific to the coronavirus crisis , panelists examined possible opportunities and risks that might result for the cannabis industry.
The sheer global scale of the pandemic crisis has shifted growth projections for industries across the board, including cannabis.
But the industry, panelists speculated, has so far emerged as a strong haven for investors and a strong market for vendors. Data said consumers indicated the primary reasons for use of cannabis products were for relaxation 66 percent , stress relief 59 percent , anxiety relief 53 percent , and sleep issues 43 percent. Kagia presented statistics that said dried flower sales spiked 23 percent; followed by vapes, edibles, and pre-rolls at 14 percent higher sales; tinctures and extracts saw a 7 percent rise, and topicals bumped up 4 percent.
Eight percent said they will bring their own gear pipes, dab rigs, etc. Another 8 percent said they would consider recreational cannabis sessions via online social platforms, like FaceTime.
But, Kagia said, 52 percent of consumers said they typically consume cannabis at home, alone, in any case. Kagia also pointed out was a particularly brutal year for the cannabis industry as interest from investors and venture capitalists seemed to cool off, in Canada and the U.
He also noted, U. Hoban Law founder and attorney Robert Hoban countered that the cannabis industry may not be well-defined enough in the United States, to claim recession-proof status. Hoban also suggested that in an economic downturn, brought on by the coronavirus crisis, industry companies would have to re-evaluate their business models. In a recession, company closures for those without the wherewithal to withstand a downturn could eventually become a reality.
After the pandemic, panelists predict investors and entire national economies will be looking at industries that have shown potential for growth, can maintain profitability even under adverse conditions, and provide jobs. In the long term, that could result in a positive climate for expansion in the cannabis and hemp industries and markets.
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CBD is the all-natural alternative individuals have turned to as they set out on a new path toward balancing their mental and general health.
Relief from pain and other symptoms using our phytocannabinoid rich hemp oil products. When it comes to CBD oil, there are a lot of misconceptions going around about what exactly it is and why people would want to use it. CBD oil has many purposes, and as the legality of marijuana use spreads, hemp oil is also starting to see a rise in use across the United States.
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Cannabis marketing data firm New Frontier Data yesterday hosted a day-long webinar on the effect of the coronavirus COVID crisis on the global cannabis and hemp industries. Webinar segments were separated into discussion topics by geographical region. Pharmaceutical applications of cannabinoids emerged as a dominant topic, especially with experts from countries like Israel, Australia, and the U. In Israel, which has been conducting research studies and clinical trials on cannabis for the last 50 years, many see a bright future for herbal-based pharmaceuticals. In regard to whether cannabis medications might help patients suffering from coronavirus, Blaicher said that anti-viral cannabis medications might be developed eventually, but—in a familiar refrain—more research is needed. While CBD products may contribute to an overall feeling of physical and mental well-being by supplementing the endocannabinoid system of a patient, there is no cannabis-based medication that specifically treats coronavirus.
Cannabis and Coronavirus: New Frontier Webinar Focuses on Risk, Opportunity
Although hemp was a known cash crop at the time, used in a variety of products including paper, lamp oil, ropes and sail canvasses, historians continue to clash on whether the Founding Fathers and other farmers at the time also utilized hemp for the more recreational or medicinal properties associated with cannabis today. The potential benefits and harms of cannabis-based products have been alternately vilified and glorified by users, government officials and the scientific community alike for nearly 3 centuries. That argument has carried into the rheumatology sphere today, where increasing interest in tetrahydrocannabinol THC and cannabidiol CBD to manage inflammation and pain , among other disease characteristics, is leading to a growing body of research. However, that body of research is developing far too slowly, at least in the U. All of this creates a complicated equation for rheumatologists to untangle. As more and more patients are using the drug, either legally or illegally depending on the laws of the state in which they reside, they are approaching their doctors for advice. Doctors, then, have to discuss the issue in the absence of hard, randomized, controlled data outlining potential benefits and harms, which makes it difficult to offer any kind of concrete recommendations. Factor in that there are now hundreds of strains and types of the marijuana plant as well as a growing number of ways to ingest it — smoking, vaping, oils and edibles — and most rheumatologists are at a loss for how to even begin a conversation about appropriate usage and dosing.
At Next Frontier Biosciences, we believe that scientific formulation is the key to developing safer and more effective cannabinoid treatments.
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