owing to various short-term and mid-term market drivers such as CBD awareness campaigns, increasing CBD oil consumption for stress management, and celebrity endorsements are boosting the adoption of CBD products.

Cannabidiol (CBD Oil) Market Major Opportunities

More Doctors May Start Recommending CBD Oil for Health and Wellness

Currently, the only CBD product approved by the Food and Drug Administration is Epidiolex, a prescription oil. It is authorized for the treatment of two kinds of epilepsy. Aside from Epidiolex, state rules on CBD usage differ. While CBD is being researched as a treatment for a variety of conditions such as Parkinson's disease, schizophrenia, diabetes, multiple sclerosis, multiple sclerosis (MS), HIV/AIDS, cancer, Alzheimer's disease, dementia, glaucoma, anxiety, research on the drug's benefits is still limited.

In January 2022 MBG health published views on CBD oil from some prominent medicine practitioners, surgeons, and others. According to, Dr. Will Cole, D.C., CBD oil can be the missing piece of the health puzzle. Where, Carrie A. Diulus, M.D. believes that CBD has a role in a variety of health conditions. However, she feels that recommending CBD is tricky because there are no rigorous trials that completely define dosing, interactions, and contraindications.

Thus, with the continued legalization of CBD in various nations and more research being undertaken on the usage and benefits of medicinal cannabis, the industry anticipates an increase in CBD recommendations from doctors beginning in 2022.

Increased Purchasing of CBD Oil for Pet

CBD oil can be really helpful to the shelter animals that are continuously under stress and there the industry also has an opportunity from prone to running away, aggression, and trauma. As of 2021 U.S. had more than 3,500 animal shelters, where approximately 6.3 million companion animals are admitted every year. These animals see a significant increase in their stress and anxiety due to caged life and amplified noises.
On the other hand, a few organizations are researching to develop evidence for the application of CBD in pet animals. For instance, The AKC Canine Health Foundation (CHF) is funding research at Colorado State University's College of Veterinary Medicine and Biomedical Sciences that will look at the use of CBD in treatment-resistant epileptic dogs. The CHF expects that this will be the first research to collect scientific evidence on the use of CBD in dogs suffering from this illness.

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