Upsurge in Clinical Trials and Research on Health Benefits Along with Safety of CBD Products will Drive Market Growth, Says Fact.MR
/EIN News/ — Rockville, Nov. 30, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global CBD patches market is set to reach US$ 124.6 million in 2023 and surge ahead at an impressive CAGR of 18.7% from 2023 to 2033.
A growing number of patients with mental health diseases such as anxiety, depression, and stress, as well as physical issues such as acute and chronic pain, is elevating the need for naturally derived medical formulations. Along with this, the increasing buzz of transdermal drug delivery systems has generated a call for CBD patches across the world. Additionally, many developing countries are now on the way to accepting CBD and CBD products for medicinal purposes, which are anticipated to create huge demand for CBD patches in the long term. Moreover, easy product availability online as well as offline in CBD-regulating countries is highlighting a strong customer base for market players.
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