There are numerous incredible innovations scientists and researchers have made in biotechnology in recent years. Among the fields of study are gene editing, tissue engineering and regeneration, nanobiotechnology and many others. In addition, new segments under the biotech umbrella are constantly being created. For instance, the medical cannabis segment that has emerged in recent years.
Now, medical cannabis products are used for the treatment of various chronic conditions such as cancer, arthritis, and neurological conditions, such as anxiety, depression, epilepsy, as well as Parkinson’s and Alzheimer’s disease. Such a wide scope of applications is also anticipated to further expand the target demographic of the market.
As a result, the global legal cannabis market size is expected to reach USD 73.6 Billion by 2027, according to a new report published by Grand View Research, Inc. Furthermore, it is anticipated to expand at a CAGR of 18.1% during the forecast period of 2019-2027.
Sativa Group Plc (NEX:SATI) is the UK’s leading quoted CBD Wellness and medicinal cannabis group with five operating subsidiaries. Goodbody Botanicals provides CBD products online and to retail markets including pharmacies, wellness stores and grocers. Goodbody Wellness is a high-street retail brand with dedicated CBD Wellness stores providing a premium shopping experience to consumers. Tessellate Collective is a direct-selling network marketing platform servicing consumers at home. Phytovista laboratories provides independent testing of CBD products to both external customers and fellow Group businesses. Sativa Grow holds a Controlled Drug licence and cultivates cannabis plants to fulfill its partnership agreement with King’s College London to research the impact of cannabinoids on inflammation and respiratory conditions.