According to the National Institute of Health, pain impacts more people in the United States than cancer, heart disease and diabetes. Research shows that chronic pain is the leading cause of long-term disability, and it is also the most common reason for entering the health care system. Despite the great financial and personal costs associated with pain, this is a significantly underserved market in the United States and around the world. While there are many prescription drugs available on the market for the treatment of pain, many are either ineffective at managing acute or chronic pain or come with debilitating side effects.
Pain and the Opioid Epidemic
Opioid addiction affects between 26.4 and 36 million people around the world each year. The opioid epidemic has reached global crisis levels, and world leaders have launched various initiatives to help reduce reliance on these highly addictive drugs. While opioids are often effective at providing relief from pain, they are generally regarded as unsafe for use in long-term pain management due to their addictive potential. Nonetheless, many people still become addicted to prescription painkillers out of desperation to find relief. This means that the pain market is currently the largest underserved medical market in the world. Fortunately, the cannabis-based products offered by AXIM Biotech (OTCQX: AXIM) have proven effective in various pain management contexts.
Cannabis Chewing Gum and Multiple Sclerosis
Multiple Sclerosis is a debilitating condition that affects more than 2.3 million people worldwide, according to the National MS Society. Hundreds of new MS cases are diagnosed each week, but many people do not receive a diagnosis or medical treatment until they have suffered for months or even years. Pain and spasticity are two of the most common symptoms associated with MS, and they can make it difficult for sufferers to go about their daily activities. Medical marijuana has proven highly effective in the treatment of these symptoms, and more than 80 percent of those with Multiple Sclerosis say they would be willing to try legalized marijuana as a form of treatment.
The market for cannabis derived pharmaceuticals may grow significantly based on the extensive research being carried out by some of the headers in the industry and in particular by AXIM Biotech (OTCQX: AXIM). It has been proven that cannabis based medication (Sativex by GWPH) is effective for treatment of spasticity associated with MS. The goal of AXIM’ product; MedChew Rx is to prove not only efficacy for spasticity in MS but also for pain in these group of patients. This would significantly increase the market size in this disease category.
CanChew is a revolutionary product that is designed to offer controlled-release cannabinoid benefits. This is the first patented chewing gum to use a controlled-release system to deliver cannabinoids for the treatment of pain, spasticity and other ailments. The cannabinoid blend is derived from hemp through a proprietary system that offers maximum relief without the high associated with other medical marijuana products. Because no psychotropic effects are associated with the chewing gum, it has no potential for addiction, unlike the existing pain management options on the market. For this reason, CanChew gum is legal in all 50 states, making it a highly accessible option for patients who live in areas where recreational and medical marijuana have not yet been legalized. No prescription is necessary to purchase CanChew gum, which comes in a pleasant mint flavor with no artificial additives.
As AXIM Biotech continues to expand its product pipeline, the company will offer more treatment options to consumers around the world. Because these products are safe, reliable and legal within the United States, they make a viable alternative to the limited options available in the extant treatment market. AXIM’s 2016 clinical trials paved the way for FDA approval and future trials could allow for expanded approval in a variety of treatment indications. The more options patients have when it comes to the treatment of chronic pain, the easier and more affordable it will be for them to seek relief from pain without the debilitating side effects that accompany other analgesics.
About the Author
Stuart Smith is the CEO and Founder of SmallCapVoice.com. SmallCapVoice.com. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit http://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/