NetworkNewsWire Editorial Coverage: America is in an opioid epidemic. On an average day, 91 Americans will die from an opioid-related overdose. That’s according to the CDC, which also reports that the number of prescription opioids sold in the U.S. has nearly quadrupled since 1999 despite no overall change in the amount of pain reported. The result is more than half a million deaths by opioid overdose from 2000 to 2015. These sobering figures reveal the desperate need for opioid substitutes, and cannabis-based therapies for pain treatment are emerging as viable alternatives. The potential rewards are significant for companies that can develop these therapies, and among those growing in recognition are India Globalization Capital, Inc. (IGC) (IGC Profile), Vitality Biopharma, Inc. (VBIO), Cara Therapeutics, Inc. (CARA), Zynerba Pharmaceuticals, Inc. (ZYNE) and AXIM Biotechnologies, Inc. (AXIM).
According to a 2016 report published by Transparency Market Research, analysts surmise that almost 20 percent of the world’s population currently suffers from chronic pain (1). As such, the global pain management therapeutics market is expected to exhibit a 3.7 percent CAGR through 2024, with market valuation increasing to US $83.0 billion by the same year.
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Cannabis-Based Therapies with Potential to Dull the Pain of Opioid Abuse
