Based on the new draft guidance from the FDA (U.S. Food and Drug Administration), this could make it easier to get approved for oral CBD medications. To read more news concerning the CBD industry and know where to obtain a reliable and low cost CBD merchant account, look no further.
CBD Market News: CBD Merchant Account
According to the Growth Market Reports (GMR), the CBD industry was estimated at USD 395.2 million last year. It’s projected to further grow at almost 30.4 % rate by the year 2027. The growth of the market is mainly based on the fact that a number of countries have accepted the legalization of cannabis.
Are you in the CBD industry? Are you accepting payments online? If not, it’s high time you started to do this. Otherwise, you won’t be able to move your CBD business forward with success. To get easily approved for a secure CBD merchant account at the cheapest possible rates, you just need to apply to an expert merchant processor in the high risk space.
Let’s Look At Some Latest News In The Field:
- According to the FDA, companies can request an in vivo bioequivalence study waiver for testing the given pharmaceutical drug to find out its authenticity. As a result, drug companies meeting certain requirements wouldn’t be obliged to go through the existing rigid approval process that determines whether the CBD medication contains only hemp.
- A number of new companies have started cooperating with CBD industry participants for the purpose of offering them financing and payment services.
- According to Wall Street, the CBD market has the potential to account for more than $16 billion within the upcoming 5 years.
- Investors worldwide are now evaluating the burgeoning CBD industry, and venture capital is entering the market more rapidly than ever.
- Those manufacturing CBD products are now incorporating the compound into food that’s sold with it if used inside of it.
- Thanks to a new farm bill, companies can enter more markets tհan before.
- S. consumer sales of CBD are forecast to make up almost $1.8 billion within the upcoming 2 years.
- The legal cannabis sales in the country are expected to reach $23 billion within the upcoming 5 years.
So, CBD products are gaining more traction worldwide. This trend shows no signs to stop in the years to come. So, get equipped with the right high risk merchant services to level up easily.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that provides the most secure and cheapest CBD merchant account in the field. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.