Cannabis oil is from the marijuana plant (cannabis indicas). The oil is extracted from the leaves of the cannabis plant. It contains high levels of THC(medical). It is used for medicinal purposes and as a recreational drug.
Cannabis oil reached considerable popularity when a man in Canada named Rick Simpson began distributing this concentrate, albeit illegally, as a medicine. Rick’s oil (commonly known as “Rick Simpson oil”) brought the long-studied knowledge about the anti-tumor and various Medicinal available properties of cannabis to the mainstream.
Global major cannabis oil production regions are USA, Canada and Europe. Canada is the largest production region, which produced 1071.6 kilo bottles in 2017, accounting for 52.66%. USA is the second largest production region, with production of 778.9 kilo bottles in 2017.
The worldwide market for Cannabis Oil is expected to grow at a CAGR of roughly 55.5% over the next five years, will reach 1410 million US$ in 2024, from 100 million US$ in 2019, according to a new GIR (Global Info Research) study.
One of the most interesting aspects of Medical Cannabis and CBD oil is the wide range of medical applications they offer. These applications fall broadly into three spheres of treatment; pain management, treatment of complex motor disorders, and mental health care.
The UK is gradually introducing forms of Medical Cannabis and CBD oil as a legal treatment option available on the NHS; at present only for pain management and for the treatment of complex motor disorders. CBD oil was introduced for medicinal purposes in 2016, and then in June 2018 the Home Office launched a review into the scheduling of cannabis and cannabis-based products for medicinal purposes, in which “Professor Dame Sally Davies, Chief Medical Officer (CMO) for England and Chief Medical Advisor to the UK Government, assessed the therapeutic and medicinal benefits of cannabis-based products for medicinal use in humans on prescription, and found that there is conclusive evidence of therapeutic benefit for certain medical conditions, and reasonable evidence in several other medical conditions.” Additionally, CBD can be legally bought in high street stores as a “nutrition supplement.”