The New Psychoactive Substances Market is slated to witness exponentiation going forward. The IoMT (Internet-of-Medical-Things) is already transforming every walk of life, including healthcare. Healthcare IT has let both – patients and doctors carry/download information about each other anywhere and anytime through their smartphones/tabs. In other words, more connectivity translates to better access to data, thereby rendering better healthcare for patients. This would be the future of the healthcare vertical in the upcoming period.
While the changing regulatory scenario in the developed countries is in favor of new psychoactive substances, developing countries may take more few years to legalize the use of new psychoactive substances. However, the growing usage of new psychoactive substances that project potential to treat a number of diseases may lead to positive growth in the developing markets as well.
For instance, March 2021, Tilray, inc., a global innovator in cannabis research, cultivation, production, and distribution proclaimed that it has received the necessary approval from New Zealand’s Ministry of Health and the Medicinal Cannabis Agency to launch Tilray medical cannabis products across the country.
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In patients with cancer, certain new psychoactive substances like cannabinoids have primarily been used as a part of relaxing care to alleviate pain, stimulate appetite and relieve nausea. Moreover, a number of cell culture and animal studies showed antitumor effects of cannabinoids and suggested new therapeutic opportunities for cancer patients.
Thus, the rising incidence of cancer is increasing the demand for new psychoactive substances.
For instance, in June 2020, GW Pharmaceuticals plc, a world front-runner in discovering, developing and distributing regulatory approved cannabis-based medicines, announced that EPIDYOLEX (cannabidiol) has been reclassified by the UK Home Office as a Schedule 5 drug.
This decision will be helpful to patients, pharmacist and healthcare professional as it ensures that the medicine can be easily dispensed and is available at a lower cost.
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Key Segments of New Psychoactive Substances Market Covered in the Report
Based on product type, the global new psychoactive substances market has been segmented as,
- Stimulants
- Cannabinoids
- Hallucinogens
- Depressants
Based on Indication, the global new psychoactive substances market has been segmented as,
- Cancer
- Neuropathic Disorders
- spasticity
Based on Distribution Channel, the global new psychoactive substances market has been segmented as,
- Retail pharmacies
- Hospital pharmacies
- E-Commerce
Based on the region, the global new psychoactive substances market has been segmented as,
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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- Zynerba Pharmaceuticals
- GW Pharmaceuticals PLC.
- Enecta.
- Teewinot Life Sciences
- GD Pharma
- Cape Bouvard Technologies Pty Ltd
- AusCann Group Holdings Pty Ltd.
- Cannabics Pharmaceuticals Inc.
- Alpha-CAT
- Tilray
- Cyrelian Pty Ltd.
- MedReleaf Australia.
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