Medical Cannabis Industry Grapples with Funding Challenges for Crucial Clinical Research
The medical cannabis sector is currently navigating a daunting obstacle course as it struggles to secure vital funding for critical clinical research.
- (1888PressRelease) August 14, 2023 - The aftermath of the COVID-19 pandemic, coupled with complex regulatory barriers, has cast a significant shadow over the industry's efforts to advance medical cannabis research.
Recent revelations from the Global Cannabis Research Initiative indicate a troubling 20% decrease in funding dedicated to medical cannabis research post-pandemic1. This decline, attributed to a blend of shifting geopolitical dynamics and regulatory intricacies, has created a pervasive environment of uncertainty. The uncertainties born from post-COVID geopolitical shifts have made attracting investment for cannabis research a formidable challenge, obstructing progress and innovation in medical cannabis applications.
A recent survey conducted by the International Medical Cannabis Patient Coalition amplifies the industry's concerns, with a staggering 72% of respondents citing regulatory hurdles as a substantial barrier to growth2. These regulatory roadblocks vary across regions and legal frameworks, effectively deterring potential investors and stifling breakthroughs within the medical cannabis space.
This funding shortage has experts in the field alarmed, fearing it could stifle advancements in medical cannabis treatments due to financial constraints stemming from global disruptions and regulatory ambiguities. To combat this, a united front is emerging among stakeholders including researchers, practitioners, patients, and advocates, determined to raise awareness about the dire need for consistent funding within the medical cannabis sector.
While these challenges seem insurmountable, pockets of hope are emerging. MediDAO, an innovative player in the industry, is pioneering an alternative approach to address the capital shortage. By building a community of engaged patients and stakeholders, MediDAO aims to harness collective support to bypass financial roadblocks, advancing specific clinical work in the medical cannabis domain using novel formulations.
In conclusion, the medical cannabis industry is grappling with the harsh reality of inadequate funding for vital clinical research. The COVID-19 aftermath and intricate regulations have woven a complex web that hampers progress. As industry players unite to tackle these challenges, there's a collective commitment to highlighting cannabis's therapeutic potential and socio-economic contributions. Despite the hurdles, the industry remains resolute in unlocking the potential of cannabis for medical applications.
Fore more information www.medidao.net
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