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No longer niche, the cannabis industry has evolved rapidly over the past few years, emerging as a mainstream market rife with opportunity. In an expanding landscape of legalization, we’ve seen a frenzy of grassroots entrepreneurs, governments, and established companies rush to bring new safe and innovative products to market.
But not so fast! There are many sides to the adult-use cannabis market, and collecting data from this consumer base calls for careful consideration from researchers. Not to mention the numerous regulatory, economic, and social hurdles that come with a controlled plant that has yet to earn universal acceptance.
When it comes to cannabis market research, there are paths to data wealth, but researchers should tread carefully.
In this article:
- Quality Considerations for Clinical Research
- Pre-Market Approval (PMA) Criteria
- Drug Abuse Liability
- Cannabis Consumers Consume More Than Just Cannabis
- Comprehensive Cannabis Data Collection
1. Quality Considerations for Clinical Research
In January 2023, the FDA’s Center for Drug Evaluation and Research issued its guidance, “Cannabis and Cannabis-Derived Compounds: Quality Considerations for Clinical Research.” This resource sets the standard for researchers looking to conduct human clinical cannabis trials, offering guidance on sourcing, dosage, storage, and other helpful resources. While these considerations are not compulsary, adhering to these guidelines can help increase your chances of gaining pre-market approval.
2. Pre-Market Approval (PMA) Criteria
The FDA holds that any product claiming to provide therapeutic benefits in its marketing must follow the same process for pre–market approval as other drugs on the market. Therefore, as with any drug, data collection around cannabis comes with strictly regulated protocols and is an important inclusion of any PMA application. Data security is of utmost importance. Other considerations include facilities, market sites, subject panels, and data presentation.
3. Drug Abuse Liability
For manufacturers of cannabis-derived drug products who are required to submit a New Drug Submission (Canada) or a New Drug Application (U.S.), drug abuse liability should be a consideration. To prepare for this type of review, the FDA issued its guidance, “Assessment of Abuse Potential of Drugs.” It includes detailed considerations of the type of data that should be collected to provide a complete data package for submission.
4. Cannabis Consumers Consume More Than Just Cannabis
Opted-in cannabis consumers and medical marijuana patients are data troves for a much wider market range than just cannabis-derived products. These consumers lead unique lifestyles and exhibit specific habits, routines, interests, food and beverage preferences, and so forth. A complex culture has formed around the use of cannabis, and it may look much different today than it did in the past. There are also cannabis users who no longer wish to consume cannabis and may be looking for other alternatives to manage their pain, stimulate their creativity, relax after work, and so on. All that to say, there are countless data collection initiatives that can be tailored to this rich demographic.
5. Comprehensive Cannabis Data Collection
That’s why Sago created the Canadian Cannabis Panel. These deeply profiled Canadian cannabis users and intended users serve as your on-demand, stand-in audience for market research purposes. This proprietary panel was designed to be quickly and easily accessible, and to provide insights on far-ranging market opportunities. Learn more about our panel here.
Learn More About Our Canadian Cannabis Panel
Access nearly 20,000 verified cannabis users and intenders.
Download our panel book