Zelira Therapeutics Ltd.

DUBLIN, Aug. 17, 2022 /PRNewswire/ -- The "North America, Europe & Asia Pacific Legal Cannabis Market Size, Share & Trends Analysis Report by Source Type, by Derivatives, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The North America, Europe, and Asia Pacific legal cannabis market size is expected to reach USD 89.9 billion by 2030 and is expected to expand at a CAGR of 25.3% from 2022 to 2030 As more individuals become aware of the medical benefits of hemp, marijuana, and its derivatives, and as these products become more generally available, acceptance is expanding. Another key factor boosting market expansion is the increased acceptance of medicinal marijuana for the treatment of chronic diseases. Legalizing marijuana for adult use in many countries will assist in creating new job possibilities and add significantly to the economy. Tourism, real estate, finance, food, and transportation are just a few of the industries that will benefit from legalization. Manufacturers are facing challenges in setting up a functional and legalized channel for the development and trade of cannabis-derived products like cannabidiol due to the presence of strict laws. The marijuana product segment led the market with a revenue share of over 70.0% in 2021. Marijuana for medical purposes is increasing in popularity as a result of recent legalizations in a number of nations. Patients with chronic diseases like Parkinson's disease, cancer, arthritis, Alzheimer's disease, and neurologic issues like depression, anxiety, and epilepsy are treated with marijuana. As a result, one of the primary reasons behind the expansion of this market is the widespread use of marijuana for the treatment of numerous chronic illnesses. The CBD derivatives segment accounted for the largest revenue share in 2021 owing to the vast applications of these derivatives. It is extensively being used for medicinal purposes as well as for the cosmetic industry. In the APAC region, the cosmetic industry is a huge business and there has been a surge in the use of CBD derivatives in various skincare products. The others segment, being the fastest-growing category, is seeing an upward trend due to the increasing number of studies proving their prowess in the medical field. The medical use segment emerged as the largest end-use segment in 2021. As medical cannabis is allowed in more countries than adult-use cannabis, the medical sector is likely to stay dominant during the forecast period. The increasing usage of cannabis and its derivatives in a variety of applications, including medicines, nutraceuticals, personal care and cosmetics, and edibles, is expected to increase the demand for these goods. With a revenue share of over 80.0% in 2021, North America led the market. The availability of a large customer pool in the region and the early legalization of marijuana for medical and recreational use are major factors driving the market. Asia Pacific is predicted to be the fastest-growing market from 2022 to 2030 owing to the increased understanding of cannabis' medical and health benefits, which has prompted Asian countries to legalize cannabis and its derivatives. During the pandemic, lockdowns and transit disruptions produced a disturbance in product supply, increasing the supply-demand disparity. As a result, the localized market and the worldwide market have been hampered. As customers gravitate away from traditional treatment approaches and move toward cannabis-based treatment, increased use of marijuana, largely for medicinal purposes, boosts the total market growth. Furthermore, the COVID-19 pandemic has significantly impacted the legal cannabis industry as a statewide lockdown has interrupted product production and imposed import/export restrictions, resulting in lower total revenue. North America, Europe & Asia Pacific Legal Cannabis Market Report Highlights The market growth can be attributed to the greater use of hemp and marijuana products and increasing preference for medical marijuana. In addition, the upcoming legalization of marijuana for adult use is expected to boost growth over the predicted period. Due to the increased acceptance of marijuana for various medical illnesses, marijuana emerged as the leading source type in 2021. By end-use, the medical use segment held the largest revenue share in 2021. This is due to an increase in the product's use for chronic pain, mental illnesses such as anxiety, and sleep difficulties and increased knowledge among practitioners. Owing to the increasing consumption rate as a result of legalization, North America accounted for the largest revenue share in 2021. Market Dynamics Market Driver Analysis Growing legalization of medical marijuana in various countries Growing adoption of medical marijuana for the treatment of chronic diseases Increasing demand for cannabis driving cannabis cultivation across the globe Elimination of the black market through the legalization of medical marijuana Impending legalization of marijuana for recreational/adult use Increasing need for potent cannabis and recent technological advancements Increasing preference toward cannabis extracts such as oils and tinctures Growing legalization of cannabis-based CBD products Growing adoption of CBD-based products for treating various medical conditions Rise in the number of retailers selling CBD-based products Market Restraint Analysis Absence of legalization programs in several Asian and African countries Strict government regulations Legalization of medical cannabis only for selected indications High pricing of medical cannabis High pricing of cannabis compared to illegal markets in the U.S. Illicit cannabis trade Industry Challenges Incomplete evidence regarding the effectiveness of medical marijuana Reluctance of doctors to prescribe cannabis Lower market access to cannabis due to the absence of legalization programs, leading to smuggling Industry Analysis - SWOT Analysis, By Factor (Political & Legal, Economic And Technological) Cannabinoid Summary Cannabidiol (CBD) Tetrahydrocannabinol (THC) Cannbinol (CBN) CBG Terpenes Flavonoids cannabinoid Acids Entourage Effect Analysis on Mode of Ingestion Cannabis Pricing Analysis, By Country, 2020-2030 (USD) COVID-19 Impact on the market Companies Mentioned CANOPY GROWTH CORPORATION Aurora Cannabis Tilray GW Pharmaceuticals, plc. Organigram Holdings Inc. Lexaria Bioscience Corp. VIVO Cannabis Inc. The Cronos Group ASX Listed Cannabis Companies Cann Group Limited Bod Australia Zelira Therapeutics Althea Group THC Global Group Limited MGC Pharma ECOFIBRE For more information about this report visit Media Contact: Research and Markets Laura Wood, Senior Manager [email protected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1904 Fax (outside U.S.): +353-1-481-1716 Logo: SOURCE Research and Markets

PHILADELPHIA, July 21, 2022 /PRNewswire/ -- Zelira Therapeutics Ltd (ASX: ZLD,OTC-QB: ZLDAF), a global leader in the research, development and commercialization of clinically validated cannabinoid medicines, is pleased to announce that its groundbreaking insomnia medication Zenivol™ has achieved formal approval from German regulatory authority BfArM to launch in the German medical cannabis market. Zenivol™ is the world's first and only clinically validated, pharmaceutical-grade, cannabis-based sleep medication. Zenivol™'s clinical research achieved the highest level of scientific review when it was peer reviewed in the Journal of Sleep. It is currently available by prescription in Australia under the country's legal cannabis regulations. "The formal approval of Zenivol™ by BfArM in Germany marks a major milestone for Zelira; Germany is one of the largest global markets for cannabinoid-based medicines, and also one of the highest quality global regulatory markets for pharmaceuticals," says Zelira CEO Dr. Oludare Odumosu. "We look forward to working with our partner, Adjupharm, in launching Zenivol™ in Germany and supporting patients and physicians in treating chronic insomnia in a safe and effective manner. With formal regulatory approval for Zenivol™ now received in Germany, we continue to progress activities to license Zenivol® into other global markets." Zelira Therapeutics Ltd (ASX: ZLD,OTCQB: ZLDAF) is a leading global therapeutic medical cannabinoid company with access to the world's largest and fastest growing cannabinoid medicine markets. Zelira owns a portfolio of proprietary revenue generating products and a pipeline of candidates undergoing clinical development that are positioned to enter global markets. The Company is focused on developing branded cannabinoid-based medicines for the treatment of a variety of medical conditions in its Rx business, including insomnia, autism and chronic non-cancer pain. The Company has two proprietary formulations under the HOPE™ brand that are generating revenues in Australia, Pennsylvania and have been licensed in Louisiana and Washington D.C., with other states in the US expected to follow. Zelira is also generating revenue in Australia from its proprietary and patented Zenivol™, a leading cannabinoid-based medicine for treatment of chronic insomnia. Zenivol™ has successfully completed the world's first Phase 1b clinical trial for chronic insomnia where it was found to be a safe and effective treatment. In 2020, Zelira partnered with SprinJene®Natural to develop and commercialize natural and organic oral care products under the SprinjeneCBD brand, as part of Zelira's OTC business. The SprinjeneCBD toothpaste product is the first of several scientifically formulated, hemp-derived, oral care products containing cannabinoids and based on the proprietary and patented technology of Blackseed oil and Zinc. The Company conducts its work in partnership with world-leading researchers and organizations including Curtin University in Perth, Western Australia; the Telethon Kids Institute in Perth; the University of Western Australia, in Perth; St. Vincent's Hospital in Melbourne, Australia; and the Children's Hospital of Philadelphia (CHOP) in the United States. Adjupharm GmbH has more than 30 years of experience as a service provider for the pharmaceutical industry. Since then, the range of products and services has expanded enormously to focus on contract manufacturing for importers of pharmaceuticals in the EU. Adjupharm's range of services include the production and marketing of pharmaceutical dietary supplements. In 2018, Adjupharm began pioneering work in the cannabis sector in Germany and has all the relevant licenses for the contract manufacturing of medical cannabis. Adjupharm uses its experience in the manufacture of medical cannabis to deliver high quality products to pharmacies and pharmaceutical wholesalers. Adjupharm has been a subsidiary of International Medical Cannabis (IMC) since 2019 ( www.imcannabis.de/). It combines the best of Israel and Germany: a spirit of innovation, many years of know-how in the cannabis industry, state-of-the-art technologies, security and reliability in deliveries, knowledge of the German market and knowledge of the needs of patients.