27 C
Lagos
Monday, August 3, 2020

The Future of CBD and Why the Industry is Booming

- Advertisement -

There’s no doubt you’ve noticed it: The CBD industry is absolutely booming. It seems to be everywhere these days, and with good reason: The experiences of many, as well as some scientific evidence, has shown that CBD has the potential to help people relieve the worst symptoms of certain disorders.

- Advertisement -

Given the popularity of the industry, it is no exaggeration to say that its future looks bright and that there only appears to be room for the CBD industry to grow. Here’s a quick look at its future, and why CBD has become so popular.

Why The CBD Industry Is Booming

Scientific Potential

The scientific understanding surrounding CBD is still evolving, and it seems that more research is being conducted on a regular basis.

While much research remains to be done before scientists and medical practitioners can have a better idea of how CBD works, it does appear that CBD has the potential to be able to help alleviate numerous illnesses, including:

Studies are ongoing to determine additional potential uses for CBD. For example, the American Kennel Foundation announced that they would be funding a study to determine if CBD could be helpful in treating seizures in dogs.

They also offered an “expert advice” article on potential ways in which CBD could be helpful to dogs, going as far as to issue recommendations for how CBD could be safely administered to these pets.

Legal Changes

CBD’s booming expansion in the United States was largely fueled by the 2018 Farm Act. The Farm Act clarified that CBD should not be considered a Schedule 1 drug, provided it was manufactured from hemp and contained less than .3% THC. As a result, CBD has become widely available in all 50 States.

International acceptance of CBD has also exploded. The compound is now legal in dozens of countries, largely located in Western Europe.

Given the changing nature of attitudes towards cannabis in general, and its changing legal scene in the United States (medical marijuana is currently legal in 33 States and Washington, D.C., while recreational marijuana is legal in another 11 states and D.C.) it appears likely that more and more countries will liberalize their cannabis laws, including as it pertains to CBD.

The Likely Future of CBD

Continued Expansion

The studies around the CBD industry have proved that it has the massive potential for growth. One estimate says that the CBD market will generate $20 billion by 2024; another argues that this study is, in fact, too conservative, and that CBD will actually hit $22 billion by 2022.

- Advertisement -

Regardless of the specific amount, you only have to look around your grocery store, drug store or gas station to see it: CBD is everywhere. A recent Gallup Poll found that 1 in 7 Americans, or 14%, use CBD, and that number appears set to rise.

The customer demand is clearly there, the laws of economics make it highly like that the supply will exist to fulfill it.

Increased Regulation

At the moment, FDA regulations on the manufacturing of CBD are sorely lacking. While the FDA has issued cease and desist letters to CBD companies which have made unsubstantiated medical claims, they have not, as of yet, developed regulations to ensure that CBD drugs are labelled accurately or tested before used.

This is a major problem for consumers: A 2017 study from the University of Pennsylvania tested a variety of CBD products and found that nearly 70% of products were mislabeled. In some cases, the mislabeling even affected THC levels, which could present a major problem for individuals who are legally or medically unable to consume the substance.

While more reputable CBD sellers have resorted to third-party testing to verify their labels, there are no regulations requiring as much. However, the FDA has said that they are exploring potential CBD regulations.

Additional Medications

At the moment, only one CBD-based medication is available for prescription: Epidiolex, which is for children who suffer from rare seizure disorders.

However, given the pace of research, the explosion of demand for CBD, the FDA’s new willingness to approve CBD-based drugs, and the sheer economy of the substance, it appears very likely that the future will hold additional CBD based prescription drugs.

CBD – The Future Is Bright

As you can see, the future of the CBD industry seems bright. Science has shown its potential, users are finding relief from what ails them and the compound has become widely available.

Thankfully, there are many websites which allow for the purchase of high quality CBD. If you’re interested in learning more, check out Nature’s Arc Organics.

- Advertisement -

Disclaimer: This article is purely informative & educational in nature and should not be construed as medical advice. Please use the content only in consultation with an appropriate certified medical or healthcare professional.

Editor
Editorial Staffs at Healthtian, A team of Writers.

Trending Now

Arithmophobia (Uncountable) – the Irrational Fear of Numbers or Arithmetic

The aritmophobia is not as popular as many other phobias, and that explains why you probably haven't heard about it before now. This condition...
- Advertisement -

Skin Rashes: Causes, Symptoms and Effective Home Remedies

Skin rashes are common skin problems experienced by millions of people worldwide; it is characterized by a visible change in the color...

Atis Fruit: 10 Health Benefits of Eating Sugar Apple

Sugar apple (Atis fruit), is the Annona squamosa fruit belonging to the natives of West Indies and to the tropical Americas like Peru, Mexico,...

Spider Bites: Symptoms, Treatment & Identification

Spider bites in the United States are often annoying but they are rarely fatal. If a person gets bitten by a black...

How to Deal With a Jealous Sister-in-law?

Getting along with sisters-in-law or potential sisters-in-law could be very frustrating whether or not they had a very tight bond with their...

Artemisia Annua: the Plant Behind Madagascar’s ‘COVID-organics’ Coronavirus Cure

Artemisia annua, also popularly known as sweet wormwood, sweet sagewort, sweet annie, annual wormwood, or annual mugwort, is a common type of wormwood that...

What Is Anomic Suicide?

In a family where kids are allowed to make decisions for themselves even before they become teenagers, there is bound to be...

12 Different Body Shapes of Women

Human beings have different body shapes and each shape depends on what you wear. However, before you decide on what to wear, you must...

9 Skin Problems That Can Bother You During Pregnancy

Pregnancy is a beautiful journey. Every pain you go through is worth it when you have your little baby in your arms.

Friends

Newsletter

Nurture yourself with health tips, wellness advice, and more.

- Advertisement -

Related Posts

Comparison of Essential Tremor Treatment Methods

Tremors can really upset our daily lives and it is important to know about the options available to us for treatment. Each have their...

8 Cutting-Edge Healthcare Devices You Can Use on the Go

As a new holiday shopping season begins, the market has exploded with cutting edge digital devices. Significantly, as mobile devices have permeated our daily...

Allergies and Your Child

Children can suffer from allergies just as well as adults. With allergy season in full swing, now is the time to start making preparations...

Acrophobia (Fear of Heights) – Causes, Symptoms and Treatment

According to some studies, acrophobia is one of the most common phobias people deal with. It describes a deep fear of heights that can...

1 COMMENT

  1. I found that CBD did nothing for me when taken internally, but I found it helpful for pain relief when I rub it into my arthritic knee. However, arnica helps as well and it’s a lot cheaper. I’m always suspicious of substances that are touted as a cure for many things

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.