The use of cannabinoids in the treatment of medical conditions offers major opportunities and challenges to anyone operating in the space.

Research on the endocannabinoid system is one of the most promising avenues for new therapeutics in medicine at the moment, however regulations are constantly shifting beneath the feet of operators and their ability to serve patients depends on their capacity to navigate a changing landscape of governance.

In Europe, there is a clear trend towards the use of more precise formulations of unapproved cannabis products as well as pharmaceutical products. In the US, sales of medical flower and vaporised products remain dominant amongst unapproved medicines, but there is also an increase in sales of pharmaceuticals, mainly Epidiolex®.

Prohibition Partners has identified at least 30 late-stage clinical trials using cannabinoid therapeutics, any of which will probably have a large impact on the medicinal cannabis space. Products with new routes of administration are currently making their way through the approvals process.

In the medium-to-long term, Prohibition Partners expect to see the development of a range of new cannabinoid therapeutics approved across the globe. Operators in the space can expect to see these products gradually taking up more of the market share at the expense of unapproved flower and full-spectrum oils over the next decade.

The Pharmaceutical Cannabis Report: 2nd Edition provides vital insight into: production costs for different plant-derived cannabinoids, indoor/outdoor cultivation costs vs. synthetic cannabinoid costs, possible competition from synthetic cannabinoids, new formulations, devices and application methods, and which sections of the market are growing.