Cannabidiol, popularly known as CBD is a drug that is a derivative of the cannabis plant and has become popular because of its therapeutic advantages. The market for CBD continues to grow with sales topping $820 million in 2017 alone. As it stands, the market for Cannabidiol products is projected to grow by 700 percent in the next 24 months.
The legalization of Medical Marijuana in some parts of the United States has led to CBD becoming increasingly popular. The CBD market is being led by consumers who are buying these products to experience the medical effects while at the same time; there is plenty of confusion as to exactly how much CBD is needed to achieve the desired results. Cannabidiol products that are found in states with legal recreational or medical programs consist of cannabis derivatives that contain as much as 30% CBD. However, non cannabis friendly states use hemp-based CBD products sold in health food stores that only contain 3.5% of this compound.
Medical Marijuana is becoming popular because most consumers are searching for a wonder drug that can treat ailments that relate to anxiety and chronic pain. Researchers are working diligently to find out if CBD can be used to cure cancer and epileptic seizures in children. There are plenty of medical professionals that believe CBD may also help those that are suffering with Alzheimer’s. Now that more than 17 states have legalized the use of Cannabidiol products in the last two years, the amount of people that can benefit from CBD has grown exponentially.
Various companies are currently producing Cannabidiol in different forms to include vape pens, edibles and topical salves that can be absorbed through the skin. CBD tinctures have become the best method of delivery for children who have epilepsy since tinctures are easy to administer and swallow.
A large percentage of the public currently prefers using Cannabidiol products over prescription opiates and other Schedule 2 medications. As these products become increasing more popular, the negative stigma associated with CBD and cannabis infused medication is being replaced with hope and the possibility of living a pain free life without opiates.
Brett Pojunis Chairman and CEO
Brett H. Pojunis is the Chairman and CEO of MJ Venture Partners, Inc. (MJVP) and an active member of the board of directors of Player’s Network, Inc. (PNTV). PNTV is a publicly traded diversified holding company operating primarily in marijuana and media. PNTV is traded on the OTCQB exchange and has been a fully reporting publicly traded company since 1998.