- The global cannabinoid-based pharmaceuticals market is projected to be valued at $50 billion by 2029
- InMed is leading the industry, laying down the foundation in manufacturing and clinical development of rare cannabinoids
- It is shedding light on the potential of rare cannabinoids and laying the groundwork on how to tap into the industry’s growth
It is projected that by 2025, the global cannabis market will be valued at around $146 billion, up from just $20.47 billion in 2020. This sector is experiencing tremendous growth, particularly considering that there are over one hundred known cannabinoids, including rare ones that are quickly taking over and will soon dominate the cannabis market (https://cnw.fm/VxE52).
The potency of rare cannabinoids has given them powerful health benefits, hence their demand within the cosmetics, food and beverage, health, and wellness sectors. However, one that stands above the rest is the pharmaceuticals sector. It is growing at a rapid pace and is projected to be valued at $50 billion by 2029.
An enterprise that is helping to define rare cannabinoids in the pharmaceutical sector is InMed Pharmaceuticals (NASDAQ: INM). This enterprise is laying down the foundation in the manufacturing and clinical development of rare cannabinoids. It is a trailblazer, a pioneer defining the value of rare cannabinoids in this sector and just how integral they are in pushing the pharmaceutical industry forward.
InMed’s most advanced compound, INB-755, has already proven helpful in treating epidermolysis bullosa, a severe genetic disorder. The compound has undergone Phase 1 clinical trials with impressive results, and global Phase 2 clinical trials are underway. InMed is also working on its INM-008 compound for the treatment of glaucoma and is currently evaluating different formulations to deliver ocular cannabinoids into the eye. InMed studies were also just recently published in an internal peer-review journal providing credibility to the data.
InMed is not just focusing on rare cannabinoid research but also investing time and resources into its manufacturing process. So far, this process allows for cannabinoid synthesis to create compounds in the laboratory that are bioidentical to those derived from the cannabis plant. In addition, this move recognizes the limited availability of rare cannabinoids, making it economically impractical to extract directly from the plants for pharmaceutical use.
Rare cannabinoids are already being recognized for their versatility in application and how effective they are at what they do. Rare cannabinoids have the ability to deliver differentiated products, including augmenting existing CBD-based products, to consumers in the health and wellness marketplace.
With companies such as InMed at the forefront of rare cannabinoid research, specifically in the pharmaceutical industry, they are shedding light on the potential of such products. They are also laying the groundwork for tapping into a sector that is expected to grow in value significantly over the next few years. Most importantly, these companies, InMed specifically, are positioning themselves to reap big from the inevitable boom that will define the sector.
For more information, visit the company’s website at www.InMedPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM
CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.canadiancannabiswire.com
Do you have questions or are you interested in working with CNW? Ask our Editor
CanadianCannabisWire is part of the InvestorBrandNetwork.