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CBD Products are Providing the Boost to the Cannabis Industry

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CBD products on both sides of the Atlantic are growing in popularity and legislators are becoming more friendly toward the sector’s development. US companies like Veritas Farms Inc (OTC: VFRM) are already taking advantage of this trend, proving the potential of CBD market to save the cannabis sector is huge.

Hemp has been known as a medicinal and ornamental plant for thousands of years. However, this does not apply to the broad masses or science. On the contrary, hemp is still frequently mentioned in the same breath as illegal drugs such as THC. For some years now, however, more and more people have known about the active substance cannabidiol (CBD) and its numerous positive properties.

In the meantime, a solid market has established itself, which is constantly growing and has already sold hundreds of millions of dollars in the USA alone. And there is no end in sight – quite the opposite. Only the uncertain legal situation is slowing down the market somewhat.

Like the European authorities, the US Food and Drug Administration (FDA) was initially sceptical about the CBD. However, due to the completely different properties than THC, the FDA now assesses cannabidiol as positive as the EU and a broad market for the dietary supplement has developed on both sides of the Atlantic. In 2018, the CBD market in the USA achieved a total sales volume of USD 367 million. This represents an increase of 40 percent over the previous year. The financial magazine Wallstreet-Online reports conservative estimates that the American CBD market could reach a total volume of 16 billion dollars by 2025.

CBD companies grow fast, just like Veritas Farms Inc

The growth rates of companies specialising in the production and sale of products containing cannabidiol are taking on almost unbelievable dimensions. For example, Veritas Farms Inc (OTC: VFRM), a producer and distributor of high quality full spectrum hemp oil products from Florida founded in 2015, continuously records impressive growth year after year.

According to the company’s announcement of their latest Q3 results, Veritas achieved total revenue of $5,712,085 which is a 347% increase compared to $1,277,914 Year-To-Date 2018. The company’s gross profit went up by 578% to $2,645,905, compared to $390,074 Year-To-Date 2018.

Veritas Farms’ business strategy is what brought them these impressive results. Veritas focuses on delivering high quality products, transparency and honesty. Their customers can check products’ quality anytime on their smartphones, thanks to the QR code packaging system the company released last April.

Honesty and transparency is also what earned the company recently announced deals with Winn-Dixie and Bi-Mart. Their products will be available at over 220 new stores across Florida, South Carolina and the Pacific Northwest.

German market also growing strongly

Financial experts in the Handelsblatt expect a strong increase in sales volumes of CBD-containing products in Germany by 2023. The current volume of 34 million euros is expected to rise to 550 million euros by 2023. The increase in European cultivation areas for special hemp cbd is also impressive. In 2013 the total area under hemp cultivation in Europe was 15,700 hectares, three years later in 2016 it was already 33,000 hectares.

Potential still far from exhausted

The scientific situation seems to be clear: CBD is considered harmless and even an effective alternative to other dietary supplements and active ingredients. The only obstacles to growth – if one can call it that at all in view of the figures mentioned – are still very different legal bases in various countries. A further development of the market could thus be promoted by the establishment of uniform regulations.

It is still a very young market in which the potential is far from exhausted. However, not all countries will be affected by the CBD boom: In Southeast Asia, even the possession of CBD oil with less than 0.2 percent THC can lead to serious criminal consequences.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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