Report: 650% Spike In Cannabis Medicine Trials Prioritizing Chronic And Neuropathic Pain

Could the future of healthcare be intertwined with cannabis-based medicines?

A recent report by Prohibition Partners, a data, media and tech company operating in the cannabis industry, reveals a remarkable 650% surge in clinical trials using cannabis-based medicines to alleviate symptoms associated with conditions such as cancer, epilepsy and autism spectrum disorder since 2010.

Stephen Murphy, CEO of Prohibition Partners, noted that this recommendation could bridge the gap between medical and adult-use cannabis, further advancing patient access and pharmaceutical industry involvement in meeting patient demand.

Biden Administration's Cannabis Recommendation: Implications for Access and Industry

The report highlights the potential for cannabinoid-based treatments in various medical fields. The findings come as the Department of Health and Human Services (HHS) recommended reclassifying cannabis from Schedule I to Schedule III, which could open doors for broader patient access to cannabis-based medicines.

“The HHS recommendation further splits the path of cannabis between adult use and medical purposes. This helps advance access, but also opens the door for the existing healthcare and pharmaceutical industry to embrace patient demand,” Murphy said regarding the Biden Administration's recommendation to the DEA to relax cannabis regulations.

Rising Interest in Cannabinoids' Therapeutic Potential Spurs Clinical Trials

This substantial increase indicates a growing interest in the potential therapeutic benefits of cannabinoids.

Pain relief has emerged as the primary focus in these trials, with a substantial 46% of them since 2010 dedicated to addressing various forms of pain management.

Chronic and neuropathic pain, encompassing conditions like fibromyalgia, cancer-related pain, and pain associated with neurodegenerative diseases, received significant attention.

According to the report, in the last decade, there has been a noticeable uptick in clinical trials investigating the potential applications of cannabis and cannabinoids in mental health disorders such as anxiety and depression.

The pharmaceutical cannabis industry is poised for substantial growth, with projected global sales estimated to reach approximately US$1.11 billion in 2023, potentially rising to US$1.37 billion by 2027.

For further insight, don't miss 'The Pharmaceutical Cannabis Report: 3rd Edition,' a joint publication by Prohibition Partners and Cannabiscientia.

And if you're keen on exploring the future of the cannabis industry, mark your calendar for the Benzinga Cannabis Capital Conference happening in Chicago on September 27 - 28. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo by CDC on Unsplash.