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New Report: Legal Cannabis Market Projected To Grow 27% CAGR By 2023

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IRELAND: The legal cannabis market is projected to register a CAGR of over 27% by 2023, according to “Global Legal Cannabis Market 2019-2023” a new report just added to ResearchAndMarkets.com.

The latest trend gaining momentum in the market is the use of advanced techniques in cannabis cultivation. According to the report, one of the major drivers for this market is the rapid legalization of cannabis. Further, the report states that one of the major factors hindering the growth of this market is the health hazards associated with the consumption of cannabis products.

Market Trends

  • Increasing demand due to growing number of patients who need cannabis for medical use
  • Use of advanced techniques in cannabis cultivation
  • Rising mergers and acquisitions in the cannabis sector

Key Players

  • Aphria
  • Aurora Cannabis
  • Canopy Growth Corporation
  • CV Sciences
  • Tilray

Marijuana And The Growth In Cigarette Alternatives

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CALIFORNIA: Tobacco smoking is the leading cause of avoidable death in the US, and chronic exposure to tobacco smoke is related to increased incidences of cancer as well as vascular disease, according to the United States Center for Disease Control. Many substitutes have been created to help individuals quit smoking cigarettes, such as herbal cigarettes, e-cigs, vaping, specialized gum, and many other ways.

Studies found in The Washington Post, pulmonologist Dr. Donald Tashkin, Professor Emeritus at the David Geffen School of Medicine at UCLA, has assumed that there would be a positive association between marijuana use and lung cancer, and that the association would be more positive with heavier use. What they found instead was no connection at all, and even a suggestion of some protective effect.

CV Sciences is currently in development of Cannabidiol-based potential U.S. Food and Drug Administration approved drugs. The company’s pipeline is the CVSI-007, a chewing gum that contains nicotine and synthetic Cannabidiol to support cessation of smokeless tobacco use and addiction. CV Sciences currently has two distinct operations: the Pharmaceuticals and Consumer Products Divisions. These divisions are supported by its medical and scientific advisory board, and advanced art production facilities.

CV Sciences Sponsors Murray State University’s Hemp Field Day August 4, 2016

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Open To Public, The Event Marks a Year of Exceptional Strides in Research and Gives Attendees the Rare Opportunity to View Hemp Research Plots First Hand

KENTUCKY:  Murray State University is just one of several universities in Kentucky that has partnered with CV Sciences to further the research and development of the industrial hemp industry. This year marks the third year of the relationship, with the first field being planted in May of 2014. This Hemp Field Day, held on Murray State University’s campus — will serve as an opportunity to reflect on both successes and failures when it comes to cultivating the long dormant crop. The event will feature speakers, research presentations, and serve as an opportunity for all attendees to view the progress of several hemp fields currently in growth.

“As you would expect with any pilot program, there have been bumps along the way, and there are still many unanswered questions but we have to start somewhere to develop this crop,” said Tony Brannon, Dean of the Hutson School of Agriculture at Murray State University, “We were able to get the seed in the ground earlier this year and we are excited to let people view the crop and share what we’ve found and what we’re learning.”

The public event is an opportunity for industry stalwarts to network, share information, and gather new research insights. The field day will also allow those who are curious about the industry to find out more about the past, present, and future of industrial hemp. Beginning at 1:00 p.m., the educational program will consist of hemp program updates from Josh Hendrix, director of business development, domestic production for CV Sciences, Inc., the , local farmer partner Joseph Kelly, and University of Kentucky graduate researcher Leah Black. Stuart Tomc, VP of Human Nutrition at CV Sciences will deliver the day’s keynote address entitled “The Cannabis Disruption: Bringing Hemp Back,” which will discuss the reasons hemp is relevant and important right now.

The second portion of the day will be devoted to field visits, where attendees will be able to view current research plots and take part in agronomic discussion. At 3:30 p.m., attendees will leave MSU’s West Farm, park at the Cherry West Kentucky Exposition Center and proceed to the Field Sites.

Josh Hendrix, who is a Kentucky hemp farmer in addition to his role at CV Sciences said, “[t]his is an industry on the cusp of some big developments, but there is still a lot of opportunities for education and for outreach about what it is that we are doing. We’re looking forward to giving people the chance to see the fields for themselves, as a tangible marker for how far we’ve come and where we might be able to go with this.”