In this CBD News article we are going to be discussing the impact that Epidiolex is projected to have on the CBD industry in general, in regard to the economic impact. Epidiolex, which is the FDA approved CBD oil has been released into the market in June 2018. It was FDA approved, so doctors are going to start prescribing it.
A lot of people were worried that, when Epidiolex comes out, it’s kind of ruin the CBD industry. They are worried that we’re not going to have a CBD industry or a nutraceutical industry for CBD products and it’s going to kill the marijuana CBD industry.
Anyway, this is not true. And we took a look at some data from new frontier data, which is a data group working in the cannabis industry and they get all kinds of marketing data. We know some of the people that work there. It’s a good group and we like what they’re doing. So check them out for sure.
The projected CBD market in the US
What we want to show you here is this projected chart. This will be good for anyone who is interested in the cannabis industry or just anybody that’s putting together the business plan. And we’ll also reference where we got this chart from. It’s a good article to check out.
What you clearly see is that Epidiolex only came into play in 2018. But this chart is showing you the total CBD market per sector. And the three sectors are:
As you see, it goes all the way from back in 2014, when it was just marijuana and hemp. Through 2018, when we had Epidiolex introduced. And then all the way to 2022, when we have full-blown Epidiolex, full-blown Marijuana and full-blown Hemp. And it’s pretty even.
We have a 2 billion projected total CBD market in 2022, with about a little over 600 million for each sector. For the marijuana, for the hemp and for Epidiolex. And what’s great is, it’s not mutually exclusive.
Epidiolex approved for specific treatment
Epidiolex is FDA-approved for only epilepsy that has not responded to conventional treatment, otherwise called intractable epilepsy. Basically, epilepsy when that hasn’t responded to the conventional treatment, Epidiolex is approved as a alternative treatment.
CBD is not just used for Epilepsy
But as we know, there are plenty of other reasons why people use CBD, that have nothing to do with epilepsy. People use it for anxiety, people use it to help them sleep, people use it to get rid of coffee jitters and they take it with their coffee, people use it for pain, people use it for inflammationand all kinds of stuff that’s not necessarily directly related to epilepsy and that remarkable use of CBD.
And some people prefer to have some THC in there, so they’re going to want marijuana derived CBD.
CBD Industry now consists of 3 different Sectors
And what is so cool about this industry is, you have now these three distinct non-overlapping sectors.
- You have the nutraceutical industry, that’s the hemp derived CBD with either no THC or a very negligible THC up to 0.3%.
- You have the marijuana THC industry, which is still CBD dominant products but with a bit more THC and derived from marijuana plants as opposed to hemp plants.
- And then you have the pharmaceutical CBD industry which is Epidiolex.
And you’re going to have that people that want to use products from mix and match. Some people want to use some hemp, some marijuana and some Epidiolex.
But these three sectors are three distinct product types, with their own brands, with their own markets, with their own marketing strategies and their own laws. Check out this chart above, we think you’ll enjoy it.
CBD from Hemp, Marijuana or Epidiolex
Do you want to use CBD from hemp, marijuana or Epidiolex ? Each one has kind of its own usage.
We’d say Epidiolex is great for people that want to just work with their doctor and obviously certain people should only work with their doctor before using CBD.
In cases of very serious things like epilepsy, you should only be using Epidiolex under your doctor’s supervision. In general though, we always recommend talking to your doctor no matter what kind of CBD product you use.
Then the other sector is marijuana. Those people they’re probably going to want either unique terpenes in their product that come from marijuana or they’re going to want some higher levels of THC, than what’s offered from the hemp sector.
Last but not least we have the hemp sector. This is going to be people that want mostly CBD, if not none THC or very little THC. Or they’re going to be living in a state, where that is their only option and there is no marijuana THC type products, so their only option is hemp.
Each sector is unique. Each sector has its own market, some may overlap but the product types are definitely unique. Let us know what you think and what your preference is.