CannTrust Holdings Inc (NYSE:CTST) has unveiled three new oil-based cannabis products to satisfy the burgeoning demand in the Canadian market. The three new offerings drive the company’s portfolio of medical cannabis products to nine. Through a press release on April 1o, the company announced that the products development was informed by findings from an intensive market research together with recommendations from the company’s rich network of patients and healthcare practitioners.
The New Offerings
Among the newly unveiled products is the High Dose CBD Capsules (25mg/capsule) which is currently the highest dose of CBD-based capsule in the Canadian market. The capsule is intended for patients that require high concentrations of CBD to neutralize acute symptoms of chronic conditions like pain.
The other doses include the High Dose CBD Capsules (25mg/capsule) and the High Dose CBD Drops (50mg/ml). The last two products are meant for patients that need low concentration of CBD. However, the Low Dose 1:1 Capsules is specifically formulated for patients looking to experiment with CBD products in small controlled doses.
Rapidly Expanding Market
A report by the Health Canada Licensed Producers Market Data indicate that the market share for medical cannabis oil products spiraled 29% between January and September 2018. In light of this encouraging statistics, CannTrust has since invested in production equipment to aid in the cannabis oil extraction. The company looks to triple its annual production capacity to serve the growing market.
CannTrust is among the leading suppliers of medical cannabis oil and capsules. The company sold about 3,707 liters of the product in the Q4 2018 alone accounting to 27% of Canada’s market. The company is constantly augmenting its product line- coming up with new products like in the case of the three both medical and for adult consumers.
“As a company that has prioritized the medical market since our inception, creating products and formulations to meet the needs of patients and healthcare practitioners in Canada and globally has always been, and will always remain, our primary focus.” Peter Aceto, CannTrust CEO.