Synthetic Cannabinoids Market

Synthetic Cannabinoids Market Analysis by Dronabinol and Nabilone for Pain Management, Nausea/Vomiting, and Neurological Disorder Management from 2023 to 2033

Analysis of Synthetic Cannabinoids Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Synthetic Cannabinoids Market Overview (2023 to 2033)

The global synthetic cannabinoids market size is accounted for a US$ 2.65 billion value in 2023 and is forecasted to expand at an astronomical 20.6% CAGR from 2023 to 2033. By the end of 2033, worldwide demand for synthetic cannabinoids is projected to bring in a revenue of US$ 17.3 billion.

Synthetic cannabinoids are lab-made drugs originally designed to produce similar effects to cannabis but which are often far stronger and carry a greater health risk. The global synthetic cannabinoids market growth is likely to pin its hope on the regulatory framework about the intake of synthetic cannabinoid products. The rising popularity of e-cigarettes linked with the growing affinity toward the usage of synthetic cannabinoids as a substitute for non-synthetic cannabis in several regions of the world is likely to offer a significant boost to the consumption of synthetic cannabinoids.

Synthetic cannabinoids are sold as a legal and safe alternative to marijuana in several parts of the world owing to which, the sales of synthetic cannabinoids have observed growth, particularly among the millennial population.

  • Synthetic cannabinoids for medical purposes have been commercialized since 2017 and are showing rapid adoption for different medical ailments. Synthetic cannabinoids have emerged as novel therapeutic drugs for epilepsy, spasticity, inflammation, etc.

Use of synthetic cannabinoids to treat nausea and anxiety caused by cancer chemotherapy is projected to open up new avenues of opportunities for synthetic cannabinoid manufacturers in the future. The growing use of synthetic cannabinoid therapies for the treatment of diseases such as arthritis, and acute and chronic pain is also predicted to uplift the demand for synthetic cannabinoids going forward.

Reliance on synthetic cannabinoids as recreational drugs is also projected to increase over the coming years and this could hurt overall market development in the long run. The psychoactive effects of synthetic cannabinoids are largely unknown and abuse of these substances could result in multiple mental and physical health complications. Hence, illegal and recreational use of synthetic cannabinoids is forecasted to be the key restraint for global market growth through 2033 and beyond.

Report Attributes Details
Synthetic Cannabinoids Market Size (2023E) US$ 2.65 Billion
Projected Market Value (2033F) US$ 17.3 Billion
Global Market Growth Rate (2023 to 2033) 20.6% CAGR
Dronabinol Segment Share (2023) 90%
Europe Market Share (2023) ~30%
Key Companies Profiled
  • Noramco Inc.
  • Kannalife
  • FSD Pharma
  • CannBioRx Life Sciences
  • TheraPix Biosciences
  • Tetra Bio-Pharma
  • Zynerba Pharmaceuticals
  • Hyasynth Biologicals Inc.
  • GW Pharmaceuticals

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How are Manufacturers Streamlining Synthetic Cannabinoid Production?

“Use of Novel Techniques Such as Biosynthesis”

Earlier, manufacturers of synthetic cannabinoids were using naïve techniques of production with the help of specialized strains of yeast. Companies such as Librede Inc. and Hyasynth Biologicals Inc. are actively producing synthetic cannabinoids by using bioengineered yeast strains.

Other manufacturers such as Renew Biopharma have been innovating the production process of synthetic cannabinoids with the help of bioengineered microorganisms. The use of bioengineered microorganisms for the synthesis of synthetic cannabinoids instead of conventional processes helps enhance the purity of the compound.

Synthetic cannabinoid providers are coming up with new techniques of production to reduce costs and improve profits.

  • In January 2022, Dyadic International Inc., a renowned biotechnology firm, announced that its C1-cell protein cells could be engineered to manufacture cannabis compounds using synthetic biology. C1-cells had the potential to make manufacturing of synthetic cannabinoids cheaper and more economically viable than traditional methods.

Synthetic Cannabinoids Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Why are Synthetic Cannabinoid Companies Focusing on North America?

“Extensive Availability of Cannabinoids and Growing Adoption of CBDs”

The synthetic cannabinoids market in North America is projected to expand at a significant pace throughout the forecast period. This can be attributed to the extensive availability of products and the existence of prominent companies constantly encouraging their brand among healthcare professionals in the region.

  • Recent approvals of cannabidiol drugs by the FDA in the U.S. for the treatment of two severe forms of epilepsy: Lennox-Gastaut syndrome and Dravet syndrome are anticipated to drive the market in the country and region.

As the government-approved production and supply of cannabis-derived pharmaceutical products increases in the United States, there are signs that synthetic cannabinoids will benefit the pharma industry over cannabinoids obtained from marijuana plants, providing an opportunity for synthetic cannabinoid manufacturers.

  • Shipments of synthetic cannabinoids in North America accounted for around 50% of the global market share in 2022.

Increasing legalization of cannabis and cannabinoids in different states of the country is also projected to offer new opportunities for business growth in the future. Canada is also forecasted to emerge as a highly rewarding space for synthetic cannabinoid companies by the end of the study period.

Learn more about all major and minor regions with details of aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this synthetic cannabinoids market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

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Country-wise Insights

Apart from the North American region, synthetic cannabinoid brands can invest in countries such as China, Japan, Germany, and the United Kingdom to expand their business scope.

What Stands in the Way of Success for Synthetic Cannabinoid Providers in APAC?

“Stringent Regulatory Mandates and Cultural Attitude towards Cannabis”

Safety concerns and the potential risk of abuse associated with synthetic cannabinoids have pushed governments in the Asia Pacific region to implement strict regulatory mandates to govern the demand and supply of synthetic cannabinoids. Synthetic cannabinoid suppliers looking to improve their revenue from Asian countries such as India, China, and Japan need to comply with the aforementioned stringent norms to do business in these countries.

  • In May 2021, the Chinese authorities announced that all synthetic cannabinoids were added to the list of banned drugs in the country. The National Narcotics Control Commission of China was behind this move and stated that this was done to curb the trafficking and abuse of these drugs.

India, China, and Japan are countries where the approach towards medicine has historically leaned toward a more natural approach rather than synthetic and modern. The cultural attitude towards synthetic products is not very bright in the Asian region and this could also pose a challenge for synthetic cannabinoid manufacturers in the future.

How Will Synthetic Cannabinoid Demand Fare in Europe?

“Growing Use of Synthetic Cannabinoids for Scientific Studies”

Pharmaceutical and biotechnology companies in the European region are continually investing in R&D activities to create novel treatments and drugs for different diseases. The presence of a supportive regulatory framework that allows the use of synthetic cannabinoids in scientific studies and research programs in European countries is projected to create new growth opportunities for synthetic cannabinoid suppliers over the next ten years.

Category-wise Insights

Synthetic cannabinoid manufacturers should invest in the development of novel drugs using dronabinol to maximize their revenue generation potential over the coming years.

Which Synthetic Cannabinoid Type is High in Demand?

“Dronabinol Accounts Prominent Share in Global Market”

Dronabinol as a type of synthetic cannabinoid has maintained its lead in the market and is expected to experience a higher growth rate vis-a-vis Nabilone. Dronabinol for medical use is being manufactured by almost all prominent market players. Moreover, Dronabinol is an emerging suitable therapeutic compound that binds to cannabinoid (CBR) receptors giving desired results during disease treatment.

  • Dronabinol sales account for around 90% of global market revenue at present.

Dronabinol has superior investment backing which is boosting its uptake in the market. A vast majority of the companies in the synthetic cannabinoids market have been focusing on products that are in their clinical trial phase.

  • For instance, TheraPix Biosciences, Tetra Bio-Pharma, and Zynerba Pharmaceuticals are some of the companies that are conducting clinical trials for their compounds.
  • Other companies like GW Pharmaceuticals, Kannalife, and FSD Pharma are developing synthetic cannabinoids. Such novel initiatives will enable manufacturers to expand their profit pools in the synthetic cannabinoids market.

Nabilone showcases a marginal contribution to the global synthetic cannabinoids market at present and is projected to record a robust hike in demand in the future due to its increased pharmaceutical usage in the United States, Canada, and Europe.

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Competitive landscape highlights only certain players
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Competitive Landscape

Synthetic cannabinoid distributors are partnering with research associations and organizations to carry out potential research on synthetic cannabinoids. Pharma giants are also investing in startup companies to push research on synesthetic cannabinoids and expand the production capacities of synthetic cannabinoids.

  • In September 2021, Noramco announced that its cannabinoids business division will become a separate company named Purisys LLC, and is expanding its production capacity of Dronabinol and cannabidiol (CBD) in its production facility based in Athens, United States.
  • In September 2021, Hyasynth, a sustainable biotechnology company, was awarded a $2.5M milestone payment from Organigram Holdings Inc., for its commercialization achievements in being first-to-market with cannabidiol (CBD) produced and extracted from yeast.

Key Segments of Synthetic Cannabinoids Market Research

  • By Type :

    • Dronabinol
    • Nabilone
  • By Indication :

    • Pain Management
    • Nausea/Vomiting
    • Neurological Disorder Management
    • Others
  • By Distribution Channel :

    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

How big is the synthetic cannabinoids market in 2023?

The global synthetic cannabinoids market stands at a value of US$ 2.65 billion in 2023.

What is the projected market value for synthetic cannabinoids by 2033?

Synthetic cannabinoid sales are forecasted to reach US$ 17.3 billion by 2033-end.

At what CAGR will the global market expand in the future?

Synthetic cannabinoid sales are projected to rise at a phenomenal 20.6% CAGR over the next ten years.

What is the strongest synthetic cannabinoid?

JWH-018 is widely accepted as a strong synthetic cannabinoid.

Which country banned synthetic cannabinoids?

China banned synthetic cannabinoids in May 2021.

Who are the leading synthetic cannabinoid suppliers?

Noramco Inc., Kannalife, FSD Pharma, CannBioRx Life Sciences, and TheraPix Biosciences are leading market players.

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Synthetic Cannabinoids Market

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