CV Sciences CEO on the Future of CBD
According to Joseph Dowling, CEO of CV Sciences, distinct to other cannabis companies, CV Sciences is also focusing on CBD, which is non-psychoactive.
CBD is the non-psychoactive part extracted from marijuana, cannabis or hemp plants. Steve Fiorillo, a writer from TheStreet's dug in-depth of CBD and its potential effects. He mentioned in his writing that a few studies revealed it may work to counteract other negative effects of THC such as paranoia and anxiety. Hence, people who were seeking legal weed consisting of THC will be looking for a strain consisting of solid THC to CBD ratio. CBD may also possess anti-inflammatory and neuroprotective properties.
CBD has been associated to treat degenerative muscle conditions, injury rehabilitation, depression, acne, chronic pain, and high blood pressure. Moreover, the benefits have been backed by a limited number of studies conducted by researchers.
CBD is a growing industry. According to the New Frontier Data report generated in the month of August, it states that the CBD industry may hit the figure of $2 billion by 2022.
Initially, CBD extracted from hemp surged higher demand than the marijuana extracted CBD in the year 2017. The New Frontier’s are expecting to witness new modifications as the pharmaceutical sector legitimately opens in 2018. By the end of the year 2022, alone, hemp extracted CBD market is expecting to see a growth of $646 million. Similarly, the marijuana extracted CBD market may grow up to $647 million.
According to Giadha Aguirre de Carcer, CEO of New Frontier Data, "The U.S. CBD market is primed for expansive growth across its three primary sectors, hemp extracted CBD, and marijuana extracted CBD and pharmaceutical CBD. We project that by 2022, each of these three sectors will account for approximately one-third of the $1.9 billion total markets."
TheStreet's Annie Gaus has shown a keen interest in the CBD industry. Recently attended the CBD Expo West, she has reported on how CBD may conceal the pot industry.
Gaus writes there are many in the business world believe that CBD is a pioneering treatment for everything from addiction to pain. Without the stigma of a federal prohibition, it may be further palatable to the wider audience and perhaps even to regulators.