The Tokyo Olympics has been one of firsts, for both the right and the wrong reasons. One novelty that has attracted international attention at this current Olympic Games has been the number of athletes admitting to using CBD as part of their training program. Given the starkly divided stance of different countries on the use--medical or otherwise--of cannabis and cannabinoids, athletes use of CBD has generated no little controversy (think Sha’Carri Richardson’s suspension from the Games for testing positive for marijuana use; not CBD, but still indicative of how strict the rules still are).
Officially, in 2018 the World Anti-Doping Agency (WADA) removed CBD from its list of substances that are prohibited in or out of competition. That said, ONLY CBD was removed from the prohibited list; the psychoactive component of marijuana, THC, is still prohibited.
Thus for the first time in the history of the Olympics, cannabidiol (CBD) has been allowed for use by elite athletes. There’s a lot of solid science behind CBD laying out its medical properties in tandem with it becoming gradually more socially acceptable to use for health, lifestyle, or in this case, elite athletics.
Right off the bat there are a number of obvious benefits in applying CBD to the field of sports medicine and athletics, such as:
- CBD is calming and can help quell general anxiety. There's stress in sports participation, so reducing anxiety without physical side-effects is key for ensuring peak game-day performance.
- CBD can help athletes with sleep without the use of downers or heavy sleep drugs. Especially in the context of the Olympic, where athletes travel from all over the world to compete, CBD can be used as an organic way to overcome jet-leg and make-up sleep debt prior to performance.
- CBD can also help athletes with pain management. In search of improved sports recovery and safer pain relief, many people are seeking out CBD as an alternative to over-the-counter pain relievers (i.e NSAIDs like ibuprofen and naproxen sodium). Although CBD cannot remedy severe pain, it can be useful in easing the delayed onset of muscle stiffness after sport or just the general aches and pains that come with being an athlete.
These three particular ways CBD can help athletes can also be beneficial to the general public, hence the enormous therapeutic and medical potential of this substance that is just beginning to be realized by industry.
And now lets take a look at the current market:
Over recent years, the CBD market has exploded. The global cannabidiol market was valued at USD 2.8 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. Due to its healing properties, the demand of cannabidiol (CBD) for health and wellness purposes is high, which is the major factor driving the market growth. By 2023, Europe’s CBD market is set to rise by 400 per cent, according to Brightfield Group, a leading consumer insights and market intelligence firm for the legal CBD and cannabis industries.
CBD-infused goods are being widely used in industries such as beauty, cosmetics, pharmaceuticals and personal care (among others) and technology has a big role to play in developing the CBD market.
One company pioneering the use of CBD for sports medicine is Innocan Pharma(CSE: INNO) (FSE: IP4) (OTCQB: INNPF). These guys are a pharmaceutical tech company that focuses on the development of CBD-delivery platforms and topical solutions for a wide range of health, cosmetic, and general weallness purposes. Their R&G Relief & Go CBD Spray is one product in particular that combines the known benefits of active ingredients such as Menthol and Camphor with CBD and Magnesium (more than 40% in the formula) to help the body relax and recover for sport-performing professionals.
Charlotte's Web (TSE:CWEB)(OTC:CWBHF) is another innovator in the field of CBD sports medicine. They offer a wide range of products organized according to symptom (e.g. exercise induced inflammation, sleep issues, etc) that can be customized to respond to the athlete’s (elite or amateur alike) specific needs. cbdMD (NYSE:YCBD) has assumed a similar course, with a wide range of CBD topicals and ingestibles already on the market.
To wrap it all up, Tokyo is giving a platform for advocates of CBD like none other before. We all know how powerful endorsements from world-class athletes can be in terms of normalizing the novel. As a dedicated cannabis investor and enthusiast, I’m pumped (from a financial and also personal angle) to see how leaders in pharma and medicine harness the full potential of CBD in years to come.
[Disclaimer: I’m not a financial analyst, this is not financial advice]
Submitted August 08, 2021 at 11:54AM by green_stocks3 https://ift.tt/3AoEWZO
