So far, more than 100 different types of cannabinoids have been identified and there is a growing body of evidence supporting the benefits of this class of compounds in offering symptomatic relief for a wide variety of chronic health conditions
Over time, extensive R&D on the potential health benefits of cannabis, have enabled medical researchers to identify a number of pharmacologically active ingredients that offer clinical benefit, minus the addictive properties of the crude substance. Currently, several stakeholders in the pharmaceutical industry are actively engaged in the efforts to develop leads based on natural and synthetic derivatives of cannabinoids.
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Key Market Insights
Over 175 drugs targeting the endocannabinoid system are currently under development
Most cannabinoid-based drug candidates are being developed to target the CB1 and CB2 receptors. Nearly 45% of such drugs are presently being investigated in clinical trials, while 50% are in the preclinical / discovery phase. Majority of these therapies (60%) are designed for oral administration.
More than 60 companies claim to develop endocannabinoid system targeted therapeutics
Post 2010, there has been a significant rise in the number of companies working in this domain; such companies represent 63% of the total number of players. Majority of the firms engaged in this domain (74%) are based in North America, followed by those headquartered in Asia-Pacific (16%), Europe (8%) and Latin America (2%).
Partnership activity has grown at an annualized rate of 35%, between 2017 and 2019
The maximum number of partnerships were observed in 2019 within this segment of the pharmaceutical industry. Majority of these agreements were reported to have been inked for research purposes (20%). In addition, more than 35 merger / acquisition deal were signed between 2016 and 2020; service / facility expansion emerged as the most prominent key value drivers for such agreements.
Close to 600 grants were awarded for supporting research on endocannabinoid system targeted therapeutics, since 2016
Almost 45% of the total amount awarded in the form of grants, was under the R01 (in support of health-related research and development based on the mission of the NIH) mechanism. Further, grants (394) worth USD 147 million were awarded to research projects related to endocannabinoid system.
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