- The global cannabinoid-based pharmaceuticals market is projected to be valued at $50 billion by 2029
- InMed is leading the industry, laying down the foundation in manufacturing and clinical development of rare cannabinoids
- It is shedding light on the potential of rare cannabinoids and laying the groundwork on how to tap into the industry’s growth
It is projected that by 2025, the global cannabis market will be valued at around $146 billion, up from just $20.47 billion in 2020. This sector is experiencing tremendous growth, particularly considering that there are over one hundred known cannabinoids, including rare ones that are quickly taking over and will soon dominate the cannabis market (https://cnw.fm/VxE52).
The potency of rare cannabinoids has given them powerful health benefits, hence their demand within the cosmetics, food and beverage, health, and wellness sectors. However, one that stands above the rest is the pharmaceuticals sector. It is growing at a rapid pace and is projected to be valued at $50 billion by 2029.
An enterprise that is helping to define rare cannabinoids in the pharmaceutical sector is InMed Pharmaceuticals (NASDAQ: INM). This enterprise is laying down the foundation in the manufacturing and clinical development of rare cannabinoids. It is a trailblazer, a pioneer defining the value of rare cannabinoids in this sector and just how integral they are in pushing the pharmaceutical industry forward.
InMed’s most advanced compound, INB-755, has already proven helpful in treating epidermolysis bullosa, a severe genetic disorder. The compound has undergone Phase 1 clinical trials with impressive results, and global Phase 2 clinical trials are underway. InMed is also working on its INM-008 compound for the treatment of glaucoma and is currently evaluating different formulations to deliver ocular cannabinoids into the eye. InMed studies were also just recently published in an internal peer-review journal providing credibility to the data.
InMed is not just focusing on rare cannabinoid research but also investing time and resources into its manufacturing process. So far, this process allows for cannabinoid synthesis to create compounds in the laboratory that are bioidentical to those derived from the cannabis plant. In addition, this move recognizes the limited availability of rare cannabinoids, making it economically impractical to extract directly from the plants for pharmaceutical use.
Rare cannabinoids are already being recognized for their versatility in application and how effective they are at what they do. Rare cannabinoids have the ability to deliver differentiated products, including augmenting existing CBD-based products, to consumers in the health and wellness marketplace.
With companies such as InMed at the forefront of rare cannabinoid research, specifically in the pharmaceutical industry, they are shedding light on the potential of such products. They are also laying the groundwork for tapping into a sector that is expected to grow in value significantly over the next few years. Most importantly, these companies, InMed specifically, are positioning themselves to reap big from the inevitable boom that will define the sector.
For more information, visit the company’s website at www.InMedPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM
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