Brightfield Group and HelloMD teamed up for a report on CBD oil user experience, anticipating that the total cannabidiol market will reach $467 million in 2017.
“Sales of marijuana-derived CBD are expected to hit $176 million and hemp-derived CBD will hit $291 million in 2017, according to Brightfield Group data.
The survey included 2,400 HelloMD medicinal cannabis community members from the United States (primarily California) and abroad.
“CBD, known for the medical relief it provides for a plethora of conditions without the psychoactive effects or “high” caused by THC, makes up a growing part of the cannabis market,” according to the report.
Notable results of the survey included:
- 58 percent of CBD-only users are women.
- 42 percent of CBD users have stopped using traditional medicine and use cannabis instead.
- About 66% of CBD users indicated that CBD products are either “more effective” or “much more effective” in relieving their medical conditions than are over-the-counter products.
- Top medical conditions treated by CBD include joint pain, insomnia, depression and anxiety.
Users reported that pros of using CBD products included medical relief and medication without the psychoactive effects of THC. Cons included pricing and availability.
Research has indicated that CBD protects the brain cells from harm in neurodegenerative diseases.
The effect of CBD on epilepsy influenced the recent legalization of medical cannabis in Mexico. CBD can reduce seizures in epilepsy the same way that it can moderate other chemicals found in the brain.