Summary

The cannabinoid based drug discovery and development market was valued at $1.3 billion in 2024 and is estimated to reach $1.8 billion by 2034, exhibiting a CAGR of 3.3% from 2025 to 2034. The major factors driving the growth of the cannabinoid based drug discovery and development market are increasing research on therapeutic applications, regulatory approvals and legalization, rising prevalence of chronic diseases. The increasing research on therapeutic applications of cannabinoids is a key driver for the growth of the cannabinoid based drug discovery and development market. The increasing research on therapeutic applications is a major factor driving the growth of the cannabinoid based drug discovery and development market. Over the past few years, there has been a significant rise in scientific studies exploring the potential of cannabinoids in treating a wide range of medical conditions.
Researchers are investigating their effects on neurological disorders, chronic pain, cancer-related symptoms, and mental health issues, among others. For instance, in 2022 Icahn School of Medicine at Mount Sinai started a randomized, double blind, study of dronabinol as a palliative agent in the treatment of pain, inflammation, and other complications of sickle cell disease (SCD). The objective of this study is to assess dronabinol's effect on markers of inflammation in patients with SCD compared to placebo and to determine the safety and tolerability of dronabinol use in adults with SCD compared to placebo. The growing evidence supporting the medicinal benefits of cannabinoids has led to more investment in clinical trials and drug development.
As regulatory environments become more supportive, especially in regions where cannabis laws are evolving, there is an increase in both public and private sector involvement in this cannabinoid research. This surge in research not only accelerates the discovery of new therapeutic uses for cannabinoids but also improves their acceptance as legitimate medical treatments. Apurano Pharmaceuticals GmbH has drug candidate Adezunap which is currently under phase 3 clinical trials for treatment of chronic back pain, painful diabetic peripheral neuropathy, central neuropathic pain and chronic post traumatic/ post-surgical neuropathic pain. As healthcare providers and researchers continue to explore the pharmacological benefits of cannabinoids, the market is expected to witness significant growth.
The increasing prevalence of chronic diseases, including neurological disorders, cancer, and chronic pain conditions, is a major factor driving the growth of the cannabinoid based drug discovery and development market. As traditional treatment options often fail to provide adequate relief or come with significant side effects, there is a growing demand for alternative therapies, particularly those derived from cannabinoids.
Cannabinoids such as cannabidiol (CBD) and tetrahydrocannabinol (THC) have demonstrated therapeutic potential in managing pain, inflammation, seizures, and chemotherapy-induced nausea, making them attractive candidates for drug development. According to article by World Health Organization, it is estimated that over 1.8 million (as of 2023) people have multiple sclerosis worldwide and around 50 million (as of 2024) people worldwide have epilepsy. The rising global burden of conditions such as multiple sclerosis, epilepsy, and arthritis has spurred research efforts aimed at formulating cannabinoid based pharmaceuticals with improved efficacy and safety profiles.
Partnerships and funding for research play a crucial role in driving the growth of the cannabinoid based drug discovery and development market. Pharmaceutical companies, biotech firms, and academic institutions are increasingly collaborating to advance research on cannabinoids' therapeutic potential for conditions such as chronic pain, neurological disorders, and cancer. These partnerships facilitate resource sharing, access to specialized expertise, and streamlined drug development processes. In February 2023, Zelira Therapeutics received $8.6 million in funding from Cantheon Capital LLC for the study of its cannabinoid drug for use in patients with autism spectrum disorder. With the funds from Cantheon Capital LLC, Zelira will conduct FDA phases 2 and 3 clinical trials of HOPE 1 via a special purpose vehicle (SPV). This financial support allows for the exploration of innovative drug formulations and delivery systems, expanding the therapeutic indications for cannabinoid based drugs. Consequently, the combination of strategic collaborations and funding opportunities significantly fosters the growth and advancement of cannabinoid based drug discovery and development, positioning it as a promising segment within the broader pharmaceutical market.
The cannabinoid based drug discovery and development market is segmented on the basis of drug development stage, receptor target, end user, and region. On the basis of drug development stage, the market is divided into preclinical studies, and clinical trials. Depending on receptor target, the market is divided into CB1 (Agonist, Antagonist, and Inverse Agonist), CB2 (Agonist, Antagonist, and Inverse Agonist), FAAH Inhibitor, MAGL Inhibitor, FAAH-MAGL Dual Inhibitor, and TRPV1 (Agonist and Antagonist). On the basis of end user, the market is segmented into pharmaceutical companies, research institutes, and contract research organizations. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (India, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
Key Benefits for Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cannabinoid based drug discovery and development market analysis from 2024 to 2034 to identify the prevailing cannabinoid based drug discovery and development market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the cannabinoid based drug discovery and development market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global cannabinoid based drug discovery and development market trends, key players, market segments, application areas, and market growth strategies.

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Key Market Segments
By End User
● Pharmaceutical Companies
● Research Institutes
● Contract Research Organizations
By Receptor Target
● CB1 Receptor
● CB2 Receptor
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ France
○ Germany
○ Italy
○ Spain
○ UK
○ Rest of Europe
● Asia-Pacific
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Brazil
○ South Africa,
○ Saudi Arabia
○ Rest of LAMEA
● Key Market Players
○ Jazz Pharmaceuticals, Inc (GW Pharmaceuticals)
○ Corbus Pharmaceuticals Holdings
○ Harmony Biosciences (Zynerba Pharmaceuticals)
○ Pfizer (Arena Pharmaceuticals)
○ InMed Pharmaceuticals
○ Therapix Biosciences Ltd.
○ Skye Bioscience, Inc (Emerald Health Pharmaceutical)
○ CNBX
○ Anebulo Pharmaceuticals
○ Botanix Pharmaceuticals

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: CANNABINOID BASED DRUG DISCOVERY AND DEVELOPMENT MARKET, BY RECEPTOR TARGET
4.1. Overview
4.1.1. Market size and forecast
4.2. CB1 Receptor
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. CB2 Receptor
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: CANNABINOID BASED DRUG DISCOVERY AND DEVELOPMENT MARKET, BY END USER
5.1. Overview
5.1.1. Market size and forecast
5.2. Pharmaceutical Companies
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Research Institutes
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Contract Research Organizations
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
CHAPTER 6: CANNABINOID BASED DRUG DISCOVERY AND DEVELOPMENT MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast By Region
6.2. North America
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by Receptor Target
6.2.3. Market size and forecast, by End User
6.2.4. Market size and forecast, by country
6.2.4.1. U.S.
6.2.4.1.1. Market size and forecast, by Receptor Target
6.2.4.1.2. Market size and forecast, by End User
6.2.4.2. Canada
6.2.4.2.1. Market size and forecast, by Receptor Target
6.2.4.2.2. Market size and forecast, by End User
6.2.4.3. Mexico
6.2.4.3.1. Market size and forecast, by Receptor Target
6.2.4.3.2. Market size and forecast, by End User
6.3. Europe
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by Receptor Target
6.3.3. Market size and forecast, by End User
6.3.4. Market size and forecast, by country
6.3.4.1. France
6.3.4.1.1. Market size and forecast, by Receptor Target
6.3.4.1.2. Market size and forecast, by End User
6.3.4.2. Germany
6.3.4.2.1. Market size and forecast, by Receptor Target
6.3.4.2.2. Market size and forecast, by End User
6.3.4.3. Italy
6.3.4.3.1. Market size and forecast, by Receptor Target
6.3.4.3.2. Market size and forecast, by End User
6.3.4.4. Spain
6.3.4.4.1. Market size and forecast, by Receptor Target
6.3.4.4.2. Market size and forecast, by End User
6.3.4.5. UK
6.3.4.5.1. Market size and forecast, by Receptor Target
6.3.4.5.2. Market size and forecast, by End User
6.3.4.6. Rest of Europe
6.3.4.6.1. Market size and forecast, by Receptor Target
6.3.4.6.2. Market size and forecast, by End User
6.4. Asia-Pacific
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by Receptor Target
6.4.3. Market size and forecast, by End User
6.4.4. Market size and forecast, by country
6.4.4.1. India
6.4.4.1.1. Market size and forecast, by Receptor Target
6.4.4.1.2. Market size and forecast, by End User
6.4.4.2. South Korea
6.4.4.2.1. Market size and forecast, by Receptor Target
6.4.4.2.2. Market size and forecast, by End User
6.4.4.3. Australia
6.4.4.3.1. Market size and forecast, by Receptor Target
6.4.4.3.2. Market size and forecast, by End User
6.4.4.4. Rest of Asia-Pacific
6.4.4.4.1. Market size and forecast, by Receptor Target
6.4.4.4.2. Market size and forecast, by End User
6.5. LAMEA
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by Receptor Target
6.5.3. Market size and forecast, by End User
6.5.4. Market size and forecast, by country
6.5.4.1. Brazil
6.5.4.1.1. Market size and forecast, by Receptor Target
6.5.4.1.2. Market size and forecast, by End User
6.5.4.2. South Africa,
6.5.4.2.1. Market size and forecast, by Receptor Target
6.5.4.2.2. Market size and forecast, by End User
6.5.4.3. Saudi Arabia
6.5.4.3.1. Market size and forecast, by Receptor Target
6.5.4.3.2. Market size and forecast, by End User
6.5.4.4. Rest of LAMEA
6.5.4.4.1. Market size and forecast, by Receptor Target
6.5.4.4.2. Market size and forecast, by End User
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2024
CHAPTER 8: COMPANY PROFILES
8.1. Jazz Pharmaceuticals, Inc (GW Pharmaceuticals)
8.1.1. Company overview
8.1.2. Key executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Business performance
8.1.7. Key strategic moves and developments
8.2. Corbus Pharmaceuticals Holdings
8.2.1. Company overview
8.2.2. Key executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Business performance
8.2.7. Key strategic moves and developments
8.3. Harmony Biosciences (Zynerba Pharmaceuticals)
8.3.1. Company overview
8.3.2. Key executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.3.6. Business performance
8.3.7. Key strategic moves and developments
8.4. Pfizer (Arena Pharmaceuticals)
8.4.1. Company overview
8.4.2. Key executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Business performance
8.4.7. Key strategic moves and developments
8.5. InMed Pharmaceuticals
8.5.1. Company overview
8.5.2. Key executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.5.6. Business performance
8.5.7. Key strategic moves and developments
8.6. Therapix Biosciences Ltd.
8.6.1. Company overview
8.6.2. Key executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Business performance
8.6.7. Key strategic moves and developments
8.7. Skye Bioscience, Inc (Emerald Health Pharmaceutical)
8.7.1. Company overview
8.7.2. Key executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.7.6. Business performance
8.7.7. Key strategic moves and developments
8.8. CNBX
8.8.1. Company overview
8.8.2. Key executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.8.6. Business performance
8.8.7. Key strategic moves and developments
8.9. Anebulo Pharmaceuticals
8.9.1. Company overview
8.9.2. Key executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Business performance
8.9.7. Key strategic moves and developments
8.10. Botanix Pharmaceuticals
8.10.1. Company overview
8.10.2. Key executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance
8.10.7. Key strategic moves and developments