- Global CBD market is projected to grow from $3,675.1 million in 2021 to $55,791.3 million in 2028 at a CAGR of 47.49%
- As a result of its leadership in this segment Innocan has raised $28.2 Million (CAD)
Innocan Pharma, a leader in the development of innovative CBD delivery methods, has achieved significant goals in 2021. Combining CBD with other pharmaceutical ingredients to improve the bioavailability of the active ingredient and overcoming variability normally associated with these ingredients, and a stronger financial position, will allow them to lead in this growing market.
Rapid and Sustained CBD Global Market Growth
Demand for CBD therapies has increased rapidly as regulations have been modernized around the world. This rapid development has persisted even in the face of the COVID-19 pandemic. “The global cannabidiol market is projected to grow from $3,675.1 million in 2021 to $55,791.3 million in 2028 at a CAGR of 47.49% between 2021 and 2028.”[1] With growing demand for natural based products, the widespread adoption of CBD in the medical and healthcare fields, along with the development of new delivery technologies, there is potential for long-term sustained growth.
Significant Breakthroughs in CBD Delivery Technology
The effectiveness of CBD in treating a wide range of medical conditions is well known. While CBD is an attractive alternative to other pharmaceuticals, the challenge facing the medical community is the reliable and predictable delivery of CBD to ensure bioavailability. Existing treatments using Vaping/Smoking or Oral delivery methods have bioavailability that ranges from 6-35%. Higher levels of bioavailability can be achieved through direct injection, this is absorbed rapidly, and levels fall quickly.
Innocan’s technology uses CBD-loaded liposomes and allows for precise and controlled dosing with a predictable release of CBD into the bloodstream. A series of successful small animal studies in 2020 and 2021 proved the effectiveness of Innocan’s technology. The successful clinical studies conducted on large animals in September 2021 have allowed the company to prepare for human clinical trials.
Innocan is a global leader in this field and is preparing to capitalize on its groundbreaking technology in 2022. The delivery system technologies in development include:
- Inhalation,
- Injection
- Topical Applications
A Stronger Financial Position and Increased Opportunities
Exosome-based technologies are a rapidly growing market with many pharmaceutical companies investing in research and development.
Innocan is in a strong position within this sector. They have partnered with Ramot, at Tel Aviv University and Innocan holds international rights to both the research and licensing of this technology.
At the end of 2021 Innocan is in a stronger financial position. As a result of its leadership in this segment Innocan has raised $28.2 Million (CAD). The stock has been performing well with consistent growth in 2021.
The company’s position in the market is strengthened by the fact that Innocan has invested heavily in development and holds a total of 14 families of patent applications. These include compositions to address pain relief, hemorrhoid treatment, psoriasis treatment, vaginal moisturizers and lubricants, diabetes symptom treatment and hair loss treatments. The pain relief sector alone is projected to see a 3.8% CAG between 2020 and 2027[2]. An aging population and other market factors are expected to continue to drive this market growth.
Team Members and Partnerships
Ron Mayron, Executive Chairman and Iris Binovich, CEO lead a team that includes executives and researchers from a broad range of enterprises. These leaders have experience in Pharmaceutical Research, medical research, and the commercialization of effective treatments. Among other successful enterprises, these leaders have experience in Pluristem, Teva Pharmaceutical, Tamar Technologies and Careline.
In 2021 Innocan demonstrated a commitment and capacity to maintain a leading position in the CBD pharmaceutical market. The company has demonstrated that it has the leadership, awareness and capacity to respond to the market opportunity. This can be seen through the research activity, patent activity, technology licencing and clinical trials. Their delivery methods are broad and likely to capture a significant portion of the market through injection, inhalation and topical application. Based on their history of IP development and proven execution, we expect that Innocan will continue to keep their promises well into the future.
Sources:
https://www.fortunebusinessinsights.com/cannabidiol-cbd-market-103215
https://www.alliedmarketresearch.com/pain-management-therapeutics-market
