Even in the last decade CBD medicine has been criminalized and banned in many countries. So, what caused such a drastic change? It seems to be the growing realization of how much the healthcare sector stands to benefit from CBD medicine. In ancient times, China, India, and other oriental countries explored the idea. However, it lost its status with the coming of Westerners as they branded it bad for health. Recent discoveries in the healthcare sector are helping the Cannabidiol (CBD) regain its lost ground.
What made the pharmaceutical companies change their minds about CBD? CBD is just one cannabinoid among many found in the cannabis plant, but it is not psychoactive, unlike THC (tetrahydrocannabinol). CBD medicine can provide relief, which led pharmaceutical companies begin to consider it as an alternative to highly addictive pain medications.
A cure for bodily pain?
The first recorded mention of CBD’s use to treat bodily pain goes back to 2900BC when Chinese people made significant advancements.
The modern science shows that the human body contains an endocannabinoid system (ECS) that plays a crucial role in assisting appetite, pain, sleep, and immune system response. Researchers got to know recently that CBD medicine can help the endocannabinoid system in building up a defense against various illnesses.
What is happening across the globe?
As you have seen both in stores and online, CBD sales have risen significantly over the last few years. Market Research Future (MRFR) predicts that the global CBD oil valuation could go up to $2.2B by 2026 with a 125.58% CAGR. Most of the revenues will come from here in the US, as several countries have started decriminalizing cannabis in order to explore healthcare possibilities. Europe and the Asia Pacific regions are also making significant progress; however, regulatory boards are still not lenient on the CBD oil market. The FDA is also not convinced, and physicians are not getting the legal authority to prescribe these medicines, which means some bumps for the market along the way. It’s hard to say exactly what the future of CBD holds; however, one can assume that it will not be long until CBD products are found being sold around the world.