Synthetic cannabinoids market is driven by increase in incidence of joint and muscle pain, and rise in focus of companies on capitalizing CBD products.

WILMINGTON, DELAWARE , UNITED STATES, October 13, 2023 /EINPresswire.com/ -- Transparency Market Research's most recent study reveals a positive outlook for the global "𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐧𝐨𝐢𝐝𝐬 𝐦𝐚𝐫𝐤𝐞𝐭" in the near future. In 2019, the worldwide Synthetic Cannabinoids market was valued at approximately US$ 1.4 Billion, and it is projected to soar to US$ 11.3 Billion by 2030, boasting a remarkable 21% compound annual growth rate (CAGR) throughout the forecast period.

𝐆𝐞𝐭 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74674

𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐧𝐨𝐢𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐏𝐚𝐯𝐞 𝐖𝐚𝐲 𝐟𝐨𝐫 𝐍𝐞𝐰 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Initially designed as a crucial pharmacological tool for assessing the endocannabinoid system, synthetic cannabinoids have gained widespread popularity in the field of pharmacotherapy, especially in developed regions like North America and Europe. The past few years have seen a significant surge in the demand for synthetic cannabinoids for unconventional applications such as pain and neurological disorder management, a trend expected to persist in the next decade. However, despite this rising demand, the negative repercussions, such as mood disorders and impaired executive functions, could potentially impede the growth of the global synthetic cannabinoids market in the forecasted period.

𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐧𝐨𝐢𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬

• In terms of 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐭𝐲𝐩𝐞, the global synthetic cannabinoids market has been classified into high-pure synthetic cannabinoids and ultra-pure synthetic cannabinoids. The high-pure synthetic cannabinoid segment dominated the market in 2019, as these were introduced earlier in the market and highly adopted to treat serious diseases such as epilepsy, insomnia, and multiple sclerosis.

• 𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐢𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧, the global synthetic cannabinoids market has been categorized into pain management, nausea/vomiting, neurological disorder management, and others. The pain management segment dominated the global market in 2019, as the rate of incidence of neurological pain has increased globally due to rise in infection, accidents, or surgeries.

• 𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, the global synthetic cannabinoids market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment accounted for major market share in 2019. The segment is expected to gain market share during the forecast period due to moderate pricing of products. Additionally, added benefits provided by the products drive sales. These factors are likely to propel the segment during the forecast period.

Market size and forecast for each of these segments have been provided from 2018 to 2030. The CAGR of respective segment has also been provided from 2020 to 2030, considering 2019 as the base year.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/checkout.php?rep_id=74674&ltype=S

𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐧𝐨𝐢𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

• The global synthetic cannabinoids market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Each region considered in the market has been further divided into countries/sub-regions.

• The global synthetic cannabinoids market report provides size and forecast for each region and country/sub-region from 2018 to 2030. The CAGR for each of these regions and countries has also been provided for the forecast period from 2020 to 2030. The synthetic cannabinoids market study also covers the competitive scenario in these regions.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=74674

𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐧𝐨𝐢𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

Mylan N.V., Alkem Labs, Noramco, Lygos, Inc., Hyasynth Biologicals, Inc., Renew Biopharma, CannBioRx Life Sciences, and Ginkgo Bioworks

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:

• Industry and Market Understanding: This report provides a comprehensive overview of a particular industry or market, including its size, trends, key players, and outlook. By purchasing this research report, you can gain a better understanding of the industry you are operating in or considering entering.

• Competitive Intelligence: This report provides detailed information on competitors, including their strengths and weaknesses, market share, financial analysis, key developments and strategies adopted, and product offerings. This information can help businesses develop effective competitive strategies.

• Investment Decisions: This report helps investors make informed decisions by providing data on market size, growth potential, and key trends. This information can be useful for identifying investment opportunities and evaluating risk.

• Regulatory Compliance: This report includes information on regulatory policies and requirements that affect a particular industry or market. This can be valuable information for businesses seeking to comply with regulations and avoid potential legal issues.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡-

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Nikhil Sawlani
Transparency Market Research Inc.
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sales@transparencymarketresearch.com
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