NetworkNewsWire Editorial Coverage: As more Canadians than ever suffer chronic pain, the chase is on to find novel therapeutic approaches to effectively manage their conditions. In fact, BMC Public Health estimates that 20% of adults on a global level suffer from chronic pain while 10% are newly diagnosed every year. In Canada, chronic pain affects 1.5 million people. As national and worldwide numbers in pain diagnoses continue to rise, innovators in the cannabis industry are developing promising therapies to address this growing market. InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) (IMLFF Profile), Aurora Cannabis, Inc. (OTCQX: ACBFF) (TSX: ACB), Canopy Growth Corp. (OTC: TWMJF) (TSX: WEED),Aphria, Inc. (OTCQB: APHQF) (TSX: APH) and Isodiol International, Inc. (OTCQB: ISOLF) (ISOL: CNX) each play a unique role in the increased acceptance and promise of medical marijuana and its purified derivatives for pain management and other medical needs.
The medical cannabis industry in Canada alone has gained impressive traction since its legalization in 2001, and industry statistics show increases from CAD$49 million in 2015 to projections of over $1.1 billion by the year 2020. Scientists, doctors, and pharmaceutical companies alike attribute this never-before seen rise in the market to consumer confidence in the therapeutic qualities of cannabis-derived products.
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