Medical cannabis is quickly gaining legitimacy, but healthcare providers and patients alike are having trouble accessing vital information on the subject.

Since California took the plunge by becoming the world’s first medical cannabis jurisdiction in 1996, the efficacy of using cannabis for medical purposes has gone from a concept to a provable fact. There are now more US states that allow access to medical cannabis than states that do not. Medical cannabis is now in the hands of consumers across the continent, including more than three million medical cannabis patients in the US alone.

Despite this, medical cannabis stakeholders from patients to physicians do not have comprehensive and unified resources for education on the subject, and publicly available information can often be out of date or contradictory. With cannabis data and information being published on a constant basis, The medical community and consumers alike are now working to establish a baseline standard for cannabis treatments that can be applied to patients around the world.

 

What you need to know about Tesla's Battery Day

   
Expert Analysis of Tesla's Battery Day and the impact on Battery Metals Investing.

Barriers come down for cannabis patients

As more jurisdictions open up to the medical cannabis market, they also create valuable opportunities for important medical cannabis research. Cannabis was near-universally illegal throughout most of the 20th century and these laws also prohibited researchers from attempting to expand medical cannabis understanding. The lack of sanctioned research allowed misinformation about cannabis and cannabinoids to flourish, and some of those myths persist to this day. It wasn’t until 1992, when the human endocannabinoid system was discovered by Israeli scientists, that the medical community was able to get a clear idea of how cannabinoids affect the body.

As a result of the breakdown of medical cannabis barriers, the global medical cannabis market is expected to reach US$148.35 billion by 2026 at a compound annual growth rate of 26.4 percent, according to Reports and Data. The US medical cannabis market is projected to be worth US$19.48 billion by 2024, according to Hexa Research.

Cannabis containing THC remains federally illegal in the US, which places high barriers between the plant and medical researchers in the country. Fortunately, legal cannabis countries like Canada and countries with legal national medical markets like Germany are providing valuable havens for cannabis research. As a result, medical cannabis knowledge is now growing at a tremendous pace.

“When you have legal restrictions at the federal level, that certainly causes a hindrance to meaningful resources given to US-based research. We see Canada as well as international markets like the UK, Israel and Colombia starting to make strides that will certainly be leveraged within the US,” Prad Sekar, CEO of cannabis data-solutions company CB2 Insights (CSE:CBII,OTCQB:CBIIF), told the Investing News Network (INN).

While cannabis remains federally illegal under schedule one status, the passing of the 2018 US farm bill created a legal distinction between THC-rich cannabis and hemp that contains less than 0.3 percent THC. This distinction is important because it effectively removes hemp from the list of schedule one banned substances and opens the door for hemp-derived medical CBD products to be produced and sold nationwide. This also removes barriers between US researchers and hemp-based CBD.

Despite the progress being made, gaps in medical knowledge and widespread misconceptions still exist. Part of the issue has to do with the fact that, as new knowledge comes to light, without unified educational resources much of that information can take a long time to reach stakeholders. Even among physicians, there is a lack of cannabis knowledge that stems from a lack of access to the evidence-based research required to make medical recommendations.

Enabling medical cannabis patients

Access to accurate and up-to-date info for medical professionals is perhaps the most important factor for the future of cannabis medicine. “Medical professionals are considered true gatekeepers to enabling access of medical cannabis to patients,” said Sekar. “This is why it is critical to provide clinically driven data to both physicians and pharmacists in order for them to make more informed decisions when deciding whether to prescribe or dispense cannabis to patients who are in need of treatment.”

In order to allow patients to make informed decisions, medical professionals require access to the most up-to-date and scientifically sound information available. Unfortunately, most medical professionals have not studied medical cannabis. Most medical universities do not require residents to learn about the endocannabinoid system or medical cannabis. Medical professionals currently have few resources to educate themselves on the medicinal benefits of cannabis, leaving many unable to prescribe such products or advise patients on how to use them. One survey, conducted by the Canadian Consortium for the Investigation of Cannabinoids, found a strong desire among medical professionals to learn more about medical cannabis.

Without medical professionals willing to guide medication, many consumers are taking matters into their own hands by self-medicating. Until physicians are able to bridge the cannabis information gap, patients could be left to independently research, acquire and implement their own self-medication programs. As additional cannabis-related data is released, physicians are in the optimal position to improve the treatments and approaches of cannabis patients. This information is expected to allow stakeholders to make optimal decisions regarding cannabis consumption and long-term health while avoiding any potential pitfalls.

The need for cannabis-based medical information has fueled the rise of cannabis data companies like CB2 Insights. CB2 has developed two cannabis education apps that provide valuable information to cannabis consumers and healthcare professionals while also collecting data that can be used to generate real-world evidence-driven insights. The company has opened over 35 medical cannabis evaluation and education clinics throughout the US that provide guidance from medical professionals to patients looking to integrate cannabis into their treatment plan. Other companies like Leafly and Cannvas MedTech (CSE:MTEC) have developed educational platforms that also generate valuable medical cannabis data. On the hardware side, companies like RYAH Medtech have developed smart vaporizers that guide patients by controlling the dosage based on strain information and doctor’s instructions.

Takeaway

As researchers learn more and more about medical cannabis, it is of the utmost importance that patients and medical professionals have access to the latest and most evidence-driven information available. Platforms that both educate stakeholders while helping to advance medical cannabis knowledge could play a key role in enabling accurate and effective medical cannabis treatments in the future.


This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information in this article should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company.

CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).

The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.

Keep reading... Show less

Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands

In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

Keep reading... Show less

Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.

Keep reading... Show less

Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value

Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).

Keep reading... Show less

Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.

Keep reading... Show less