Herzliya, Israel and Calgary, Alberta--(Newsfile Corp. - July 28, 2021) - Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the "Company" or "Innocan") filed a patent application for its topical composition for hair loss treatment. The patent application discloses and claims several compositions for topical administration comprising cannabinoid for the treatment and prevention of hair loss.
Hair loss is the one of the most common syndromes faced by most of the people around the globe. The global hair loss product market is witnessing an increase in the number of customers demanding products to meet their functional needs.
According to a research article published on The Research Society in March 2021, studies have shown that the endocannabinoid system (ECS) is a key player in hair follicle cell growth. A study* was done on 35 subjects using a once daily topical Cannabidiol (CBD), for six months. The results statistically significant 93.5% increase in hair growth after six months.
According to Market Watch, published in May 2021, the global hair loss and growth treatments products market was valued at $3.1 billion USD in 2020, and is expected to reach $4.6 billion USD by the end of 2026, a CAGR of 5.6%.
Innocan views that its expanding intellectual property portfolio of cannabis-based products is a source of potential breakthroughs in dermatological therapy and for further opportunities across a broad spectrum of inflammatory indications with currently unmet medical needs.
"We are committed to bringing innovation and novelty to the world's most pressing and unsaturated medical and sub-medical conditions," said Iris Bincovich, CEO of Innocan Pharma. "Innocan, is steadily advancing in its goal of becoming a leading pharmaceutical player in the high growing dermatological arena."