The Cannabis Patent Space is Filling Quickly But These Areas are Falling Behind

The cannabis industry is moving quickly as more states hop on board with medical and recreational cannabis, leaving behind the days of prohibition. In just the last 5 years, there has been a 374% increase in patent asset publishings. Some areas have seen much more growth  than others including medical use of cannabinoids, cannabinoid compositions, cannabis processing, devices for use with cannabis, foods and beverages containing cannabinoids, cultivation of cannabis, cannabinoid biosynthesis, and sobriety testing. These spaces makeup more than 90% of the cannabis patent space as of September 2021. Now, if someone wanted to secure their own niche in the cannabis industry, the following are some areas that haven’t seen much patent activity. 

There’s a ton of waste in the cannabis industry – an estimated 150 million tons to be exact. Disposal of this waste hasn’t seen much development in the patent space. Current applications are directed to creating fuel products from the waste or carbon products. Expansion in this space’s technology is warranted since there will be a constant supply of waste and more of it as more states open up their doors to cannabis. More opportunities lie ahead for the cannabis supply chain.

Legal cannabis will need to be accounted for to ensure it remains in the hands of responsible and intended users and is grown by licensed growers. Tracking and compliance technologies have not seen much activity in the cannabis industry with only one issued patent in the last five years. Having a “chain of custody” for cannabis travel and transactions will decrease deviations within the industry and provide an ethical product to the market. This would be a wise space to develop in before the federal legalization of cannabis and to beat the competition to it. 

Cannabis remains one of the fastest growing emerging industries and for good reason. It has a huge market and many applications. Finding insights like where white space lies in a saturating industry can be done in the blink of an eye using the Cannabis Patent Forecast®. See how it can assist you today!