North America CBD Patch Market, By product (Reservoir, Matrix and Layer Drug-In-Adhesive), species (Cannabis Indica, Hybrid and Sativa), Packaging (Two to Five Patches, Single Patch and More Than Five Patch), Dosage (Below 30 mg, 30-40 mg, 40-50 mg and Above 50 mg), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC) and Others), Application (Chronic Pain, Anxiety, Arthritis, Elevate Mood, Neurological Pain and Others), Source Type (Natural and Synthetic), End User (Homecare Setting, Research and Development Centers, Hospital, Clinics, Rehab Centers and Others), Distribution Channel (Dispensaries & Pharmacies, Online and Conventional Stores), Country (U.S., Canada and Mexico) Industry Trends and Forecast To 2028.
North America CBD Patch market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 19.6% in the forecast period of 2021 to 2028 and is expected to reach USD 288,522.75 thousand by 2028. Rising use of CBD patches for pain relief and consumer awareness acts as driver for the CBD Patch market growth.
CBD patches are transdermal patches containing cannabidiol (CBD). They slowly release CBD into the bloodstream through the skin. Some people may prefer this CBD delivery system to inhaling vaporized CBD or ingesting it orally via edibles or drinks. CBD patches may be a more suitable option for certain applications, such as treating pain, although personal preference will play a role in choosing the best way to take CBD. This transdermal method delivers the CBD quickly to the local area around the patch. From there, it works its way into the bloodstream. When people take CBD orally - via an oil or gummy, for example — the compound must first pass through the digestive system. The body may then use it, break it down, or even simply excrete it as waste. As such, much of an oral CBD dose may be lost in the digestive system.
The rising sales and applications of CBD patches is the major driving factor in the market. The side effects associated with CBD and THC can prove to be a challenge however the widening of research scope for medical applications of CBD patches prove to be an opportunity. The restraints by the government and medical bodies for the use of CBD for medical applications and the challenges faced due to the impact of Covid-19 on the supply chain of the raw materials are the restraining factors.
The CBD Patch market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the CBD Patch market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America CBD Patch market is segmented on the based on the product, species, packaging, dosage, derivative, application, source type, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the CBD Patch market is segmented into reservoir, matrix and layer drug-in-adhesive. In 2021, reservoir segment is dominating the CBD Patch market due to its use in varied CBD applications and its steady and controlled release for longer period of time.
- On the basis of species, the CBD Patch market is segmented into cannabis indica, hybrid and sativa. In 2021, Cannabis Indica segment is dominating the CBD Patch market due to its high CBD and low THC percentage as compared to sativa and hybrid. As many regions have a limit in the use of THC in products, Cannabis Indica is preferred.
- On the basis of packaging, the CBD Patch market is segmented into two to five patches, single patch and more than five patch. In 2021, two to five patches segment is dominating the CBD Patch market due to its high availability and the discounts offered by manufacturers on a bundle of patches in this range.
- On the basis of dosage, the CBD Patch market is segmented into below 30 mg, 30-40 mg, 40-50 mg and above 50 mg. In 2021, below 30 mg segment is dominating the CBD Patch market as the market is at its initial stages and new consumers start with low dosage and then increase as per the requirement.
- On the basis of derivatives, the CBD Patch market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC) Others. In 2021, cannabidiol (CBD) segment is dominating the CBD Patch market owing to the restrictions on the tetrahydrocannabinol (THC) content of 0.2-0.3% depending on the country of use and also the side effects associated with tetrahydrocannabinol (THC).
- On the basis of application, the CBD Patch market is segmented into chronic pain, anxiety, arthritis, elevate mood, neurological pain and others. In 2021, chronic pain segment is dominating the CBD Patch market due to the increase of cases of chronic pain such as neck pain, shoulder pain, etc and the high availability of patches in the pain relief application.
- On the basis of source type, the CBD Patch market is segmented into natural and synthetic. In 2021, natural segment is dominating the CBD Patch market due to the trust of consumers on the natural products as plant based products are considered safe without any skin problems or allergies.
- On the basis of end use, the CBD Patch market is segmented into homecare setting, research and development centers, hospital, clinics, rehab centers and others. In 2021, homecare setting segment is dominating the CBD Patch market as the CBD product utilization is not yet approved in the hospitals and clinics.
- On the basis of distribution channel, the CBD Patch market is segmented into dispensaries & pharmacies, online and conventional stores. In 2021, dispensaries & pharmacies segment is dominating the CBD Patch market due to its presence and established supply chain from the manufacturer to consumer.
North America CBD Patch Market Country Level Analysis
The CBD Patch market is analysed and market size information is provided by the country, product, species, packaging, dosage, derivative, application, source type, end user and distribution channel as referenced above.
The countries covered in the CBD Patch market report are the U.S., Canada and Mexico. U.S. dominates the market due to the higher manufacturers and demand for CBD Patch.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing research of CBD patches for medical applications is Boosting the Market Growth of North America CBD Patch Market.
The North America CBD Patch market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and North America CBD Patch Market Share Analysis
CBD Patch market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to CBD Patch market.
The major companies which are dealing in the North America CBD Patch are Papa & Barkley, Pure Ratios, Charlotte's Web Inc., Bioactive Solutions, Inc., La Mend Inc., Envy CBD, GoGreen Hemp, Harmony, Healist Naturals, HempBombs, Isodiol International Inc., Manna Molecular Science, LLC., Mary’s Medicinals, Nutrae LLC., Premium Hemp Products Nature Script, PureKana LLC, Social CBD, Upstate Elevator Supply Co. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the CBD Patch market.
- In March 2020, Papa & Barkley launched the new product line of innovative rosin-infused skincare products. This cannabis and CBD skincare products are for patients who have irritated skin, sunburn, minor aches, scars, rednessamong others. This will help the company to increase its portfolio in cannabis and CBD wellness markets.
- In September 2019, Pure Ratios announced its partnership with Caliva, a California-based producer and distributer of cannabis products. The partnership has helped the company to penetrate deep into the California market and expand its customer base.
Customization Available: North America CBD Patch Market
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