Cannabis has been used for a variety of purposes for centuries. However, due to its psychoactive nature, many of its benefits are often ignored.
However, we are undergoing changes in cannabis legal scenarios around the world. The wind of these changes has recently been seen in Asian countries such as Thailand and South Korea.
What is Medical Cannabis?
Historically, cannabis has been used as a drug option in many societies. Research shows that cannabis contains many beneficial compounds called cannabinoids. The most studied cannabinoids include THC, CBD, CBN and CBG.
These cannabinoids have therapeutic benefits due to their analgesic, anti-inflammatory and antiemetic capabilities. Scientists also believe that cannabis can provide an aide effect to users. That is, using all the cannabinoids of cannabis at the same time allows users to enhance the benefits of all the compounds.
Asian medical cannabis industry
According to the Asian Cannabis Report, the Asian medical cannabis market could reach US $ 5.8 billion by 2024. The Asia Pacific medical cannabis market is projected to reach US $ 11.49 billion by 2026, at a rate of 25.3%.
In Asian countries, the acceptance of cannabis and changes in attitudes towards it, especially medical cannabis, are due to the following factors:
– Increased R & D activity for drug discovery using medical cannabis
Increased licensing and R & D activity in this sector is believed to drive this market to exponential growth. For example, in January 2018, the Australian Government allowed cannabis manufacturers to sell and legalize medical cannabis products to many countries.
Outbreak of illness
Due to the increasing incidence of chronic diseases such as osteoarthritis and cancer in Asia, cannabis is actively used in clinical studies to generate prescriptions that can manage these diseases, especially in the elderly in Asian countries. It has been.
The Asian cannabis plant market is also growing as the public is becoming more aware of the potential treatments for cannabis.
We have also witnessed that major global players are investing in the cannabis sector in different parts of Asia and are expected to favor the Asian cannabis medical market.
Asian countries accepting cannabis
Many Asian countries have found severe penalties for cannabis consumption, trafficking and possession. Recently, some Southeast Asian countries have begun to normalize drug use.
For example, Thailand is the only country in Asia that has fully legalized medical cannabis. The country announced the first cannabis greenhouse in February 2019. Following Thailand, South Korea was the first East Asian country to surprise many others by legalizing medical marijuana in March 2019.
Then, in the same month, Japan also approved a trial of Epidiolex, a drug containing a cannabis compound for the treatment of epilepsy. Meanwhile, Cambodia and Laos are also looking for ways to legalize medical cannabis. Other rigorous countries such as China, Singapore and Malaysia are also involved in research on the efficacy of cannabis.
Disability in Asia
Unlike the West, very few Asian countries have relaxed medical cannabis laws and regulations. Therefore, in order for the market to fully prosper and reach its potential, Asia has many obstacles that can impede growth, including:
– Mass consumption of cannabis is associated with heart attack and tachycardia. These non-negligible side effects are a major impediment to the growth of the Asian medical cannabis market.
– In addition, various Asian governments, such as the governments of Japan, China and India, have very strict laws regarding the processing, manufacture and use of medical cannabis, which is a major obstacle to market growth.
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Malaysia was set to allow the import and use of medical cannabis
Source link Malaysia was set to allow the import and use of medical cannabis