How big pharma can help to improve the UK's CBD market
The global cannabidiol (CBD) market is growing exponentially. In 2018, the market was estimated to be worth $4.6 billion, but a recent report predicted that this figure could rocket to $123.2 billion by 2027.
Whilst attention typically centres on US and Canadian markets, over the last two years the UK CBD market has also experienced a period of exponential growth. A recent study commissioned by the Centre for Medicinal Cannabis found that the UK CBD market is currently worth over £300 million, and, given its annual double-digit growth, is expected to reach £1 billion by 2025.
This article looks at the CBD market in the UK and the regulations that currently govern it. It considers the need for a more stringent approach to the laws regulating use of medical cannabis, and how public safety can be upheld while creating a thriving market.
The article also outlines the current challenges restricting market growth, the role of pharma companies in overcoming these, and how the market might change in future.Click here to read the full content of this article in the digital magazine