Hemp-derived CBD became more readily know in 2013 when CNN Chief Medical Correspondent Dr. Sanjay Gupta introduced Charlotte Figi to the world in a documentary called, “Weed”.
Charlotte Figi is a young girl who resides in Colorado and who had been experiencing somewhere in the neighborhood of 300 seizures a week due to intractable epilepsy known as Dravet’s Syndrome. Dr. Gupta revealed in the documentary that when Fiji took the high-CBD, low-THC hemp oil known as Charlotte’s Web, it had worked to greatly reduce her seizures.
Since the airing of the documentary, many states have passed their own individual hemp-derived CBD laws in recognition of CBD’s healing benefits. These benefits continue to grow as research is conducted, new products are introduced to the market, and researchers push through clinical trials in a race to not only win FDA approval, but also learn the curative and palliative implications of hemp-derived CBD.
What’s Holding the CBD Market Back?
In the United States, the 2018 Farm Bill, which is in the hands of Congress right now, contains legislature that could legalize industrial hemp by removing it from the Controlled Substances list. Hemp has been illegal in the United States for the past 80 years under the Controlled Substances Act of 1970. Hemp was grouped with marijuana and was declared a Schedule 1 drug, which are considered to have high abuse potential and severe safety concerns.
The market for CBD, a non-psychoactive cannabinoid compound found in industrial hemp, is poised to react to this declassification and take the cannabidiol market to the next level. CBD products currently include everything from gummies, to topical creams and soon even beverages may contain CBD.
Cheers to CBD
In the last several months, a number of beverage companies, such as Molson Coors Brewing Co, Constellation Brands, Inc., Heineken N.V., and others have entered the Canada marijuana industry either through joint ventures with domestic companies or through investments in them. These companies plan to release CBD-infused beverages, which will further expand the market size for the drug.
Even before cannabis-infused beverages reach their full potential, the CBD market is still a substantial one, with many companies and brands that offer CBD-based products in the form of oils, tinctures, beauty and spa products and more. Supply and demand is increasing for hemp-derived CBD products.
About Leaf Vertical, Inc.
Leaf Vertical Inc. is an innovative, clinical-stage biopharmaceutical research company, committed to discovering and developing novel therapeutics from its proprietary cannabinoid product platform.
For more information on Leaf Vertical or its Cannabinoid (CBD) clinical trials, use in the treatment of specific types of malignancies related to glioblastoma, myeloma, gastrointestinal, and breast cancer, when administered in conjunction with Standard of Care, please contact Leaf Vertical by phone at 407-776-9217 or visit the company’s headquarters at 805 S. Kirkman Rd, Suite 202, Orlando, Florida 32811.