Irritable bowel syndrome is a chronic condition characterized by discomfort and pain in the abdominal region. Sufferers also experience symptoms such as diarrhea, constipation and gas, and it is believed that the condition is adversely affected by anxiety. Anywhere between 25 and 45 million people are affected by IBS in the United States alone, and 2 out of 3 IBS patients are women. The unfortunate reality for IBS sufferers is that there are few effective long-term treatments that manage symptoms without the risk of side effects. As a result, the IBS market presents plenty of opportunities for alternative treatment methods to make a positive impact on patients worldwide.
Medical Marijuana Products
Pharmaceutical industry experts predict that the market for cannabis products could reach 10 percent of the specialty market by the year 2020, with a market value of $20 billion. With a variety of cannabinoids to test and incorporate into new products, the medical marijuana market is wide open for innovation. AXIM Biotechnologies, Inc. (OTCQX: AXIM) is at the forefront of this growing industry with a diverse product pipeline. Because some patients have difficulty absorbing medication through certain delivery mediums, AXIM offers a variety of product delivery systems, from CBD-based chewing gums that offer long-lasting relief from symptoms to sublingual drops.
On average, prescription drugs cost $2.6 billion to develop. The costly methods used by most pharmaceutical companies to develop new products and conduct clinical trials for various treatment indications means that the cost of development is passed on to consumers. AXIM is creating a more cost-effective way to develop pharmaceuticals, bringing the benefits directly to consumers. After a successful initial series of clinical trials at Wageningen University in the Netherlands, AXIM’s unique CanChew Plus CBD gum is being tested for effectiveness in the treatment of IBS. In the last quarter of 2016, AXIM was able to keep its research and development costs below $90,000. With multiple clinical trials in progress at various stages, the AXIM research and development department is not only offering new treatment options to consumers but presenting a new way of developing products for the industry as well.
AXIM and IBS Treatment
The most promising aspect of the CanChew Plus product line with regard to IBS treatment is the convenient delivery method. IBS sufferers may experience symptoms at any time, and symptoms often come and go depending on the patient’s levels of stress at any given moment. CanChew Plus gum is easy to use at home, school or work, making it a convenient alternative to other delivery methods. The chewing gum allows IBS sufferers to obtain treatment on an as-needed basis, and the long-lasting formula is designed to provide consistent relief throughout the day. This gives IBS sufferers the freedom they need to pursue regular activities without the interference of symptoms such as diarrhea and bloating.
The Future of CBD Products
Estimates show that the legal marijuana market reached an impressive $6.9 billion in 2016. The 2016 elections played a major role in increasing the market potential for marijuana products throughout the United States as multiple states passed legislation legalizing recreational marijuana, medical marijuana or both. As more states expand permissions, the cannabis market will continue to grow. The fact that CanChew Plus products are currently available and legal throughout the country makes them even more accessible. As the laws continue to change, AXIM will be able to reach a wider market with its unique products.
According to IBS research, the average date of an IBS diagnosis is 6.6 years after the first symptoms began. As many as 40 percent of visits to gastroenterologists happen as a result of IBS symptoms, and researchers believe the stigma surrounding the disorder is part of the reason many sufferers wait so long to seek treatment. IBS can be a debilitating condition that makes it difficult to enjoy normal activities, and once patients do seek treatment, they may be intimidated by the lack of traditional pharmaceutical treatment options available. AXIM’s innovative product pipeline provides a valuable solution to both problems, offering a subtle, convenient treatment that can be taken on the go without interfering with daily life. Because CanChew Plus gum is not accompanied by the unpleasant side effects that go along with many traditional treatment options, it gives patients even more freedom.
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 https://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/