Middle East and Africa CBD Patch Market Analysis report covers a detailed value chain analysis of the market. The value chain analysis helps to analyze major upstream raw materials, major equipment, manufacturing process, downstream customer analysis, and major distributor analysis are mentioned in the report along with all the drivers and restraints for the market. It presents a comparative detailed analysis of all regional and player segments, offering readers a better knowledge of the areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the market.
The world-class research Market report describes recent industry trends and developments. Under market penetration, it gives comprehensive information about the top players in the industry, their product portfolios, and their key strategies. The report describes major factors (drivers, restraints, opportunities, and challenges) that are influencing the growth of the A Market and submarkets. It assesses the market shares for new entrants. The report covers a strategic profiling of the key players and brands. Under competitive assessment, it performs an in-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the market.
Middle East and Africa CBD patch market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with a CAGR of 18.1% in the forecast period of 2021 to 2028 and is expected to reach USD 64,169.10 thousand by 2028. Rising use of CBD products and patches for pain relief and consumer awareness acts as driver for the CBD Patch market growth.
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CBD patches are transdermal patches containing cannabidiol (CBD). CBD is delivered quickly to the local area around the patch, and then it works its way through the bloodstream. The direct application of a patch on the skin allows the CBD to bypass the digestive system and increase the bioavailability of the product.
There are different types of patches available in the market according to their application. CBD patches are mostly used for the treatment of chronic pain such as neck pain, shoulder pain, lower back pain, and others. CBD patches are also used for the treatment of mental health problem such as insomnia, anxiety, and depression among others. It gives pain relief and keeps a person calm and stress-free because of which the demand for the product in the market is increasing..
The rising use of CBD patches for the treatment of chronic pain is the major driving factor in the market. The side effects associated with CBD can prove to be a challenge however the widening of research scope for medical applications of CBD patches proves 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, analyzes 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.
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Middle East and Africa CBD Patch Market Scope and Market Size
The Middle East and Africa CBD patch market is segmented on the basis on the product, species, packaging, dosage, derivative, application, source type, end user and distribution channel. The growth among segments helps you analyze 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 steady release for longer period of drug.
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 as the composition of THC is restricted up to 0.2%-0.3% which is only satisfied by cannabis indica category.
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 rising preference among its customers and the discount offered on the pricing of two to five patches.
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 30mg segment is dominating the CBD Patch market as the doctors recommend below 30mg drugs in order to check the suitability and reaction in the human body.
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 as it has comparatively less side effects to THC and other derivatives.
On the basis of application, the CBD Patch market is segmented into chronic pain, anxiety, arthritis, elevated mood, neurological pain and others. In 2021, chronic pain segment is dominating the CBD Patch market due to the high availability of the products by each manufacturer to cater the rising demand of the customer is also one of the factors, which is fueling the segments growth.
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 more effective.
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 legally.
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 well-known supply chain.
Middle East and Africa CBD Patch Market Country Level Analysis
The CBD patch market is analyzed 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 South Africa, Israel, Saudi Arabia, UAE, Egypt and Rest of Middle East and Africa. South Africa dominates the CBD patch market in Middle East and Africa due to the lower restriction on CBD products compared to other countries in the region.
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 Middle East and Africa 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 Middle East and Africa CBD Patch Market.
The Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa CBD Patch are Kangdi Overseas Business Co., Ltd., Shenzhen Ruiyan Technology Co., Ltd, Always Pure Organics Ltd, and Natures Script 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.
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