Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Controlled Substance Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global Controlled Substance Market Report 2024 now available, offering a comprehensive analysis and forecast of an ever-evolving industry. The report highlights a projected growth from $89.78 billion in 2023 to $95.98 billion in 2024, signifying a robust compound annual growth rate (CAGR) of 6.9%.
Witnessing substantial advancements and regulatory developments, the market for controlled substances is buoyed by rising demand for medical prescriptions and an increase in chronic disease prevalence. Enhancements in the pharmaceutical landscape, international collaborations, and increased focus on mental health contribute significantly to this growth.
Key Trends and Innovations Shaping the Controlled Substance Market
Investments in precision medicine, the rise of telemedicine, and the push for opioid alternatives are noted as catalysts in the extended growth trajectory, expecting the market to escalate to an outstanding $125.96 billion by 2028.
- Digital advancements in drug management present a highlight per recent product introductions, optimizing the safe handling and monitoring of controlled medications.
- E-module innovations stand out, spotlighting the efforts of major companies to navigate the complexities of drug regulations and patient care through cutting-edge educational resources.
- M&A activities continue to reshape the industry, with notable acquisitions fortifying the research and development landscapes while enhancing manufacturing capabilities domestically.
The controlled substance market is diversifying, with major players focusing on opioid management, targeting pain disorders, and expanding into cannabinoid applications, adhering to the stringent regulatory frameworks governing medical use.
Regional Spotlight and Market Segmentation
On a regional analysis, North America retained the largest market share in 2023, with Asia-Pacific predicted as the fastest-growing during the forecast period. This expansion is reflective of the diverse applications across such domains as pain management, sleep disorders, and ADHD treatment, facilitated through hospital pharmacies, retail pharmacies, and online platforms.
This report delves deeply into these dynamics, offering granular insights into:
- The major types of controlled substances and their end-use applications.
- The distribution channels and their roles in delivering these critical medications.
- The strategic moves by key industry players and their impact on the global market landscape.
In summation, the Controlled Substance Market Research Report presents a far-reaching assessment of current industry conditions and future market propensities, helping stakeholders navigate the intricacies of this crucial sector.
With extensive regional analysis and a comprehensive look at market contributors, this report serves as an indispensable tool for those operating within, or interested in, the controlled substance arena.
A selection of companies mentioned in this report includes
- Merck & Co. Inc.
- Johnson and Johnson Services Inc.
- Orbis Biosciences Inc.
- GW Pharmaceuticals plc
- Corium Inc.
- Pfizer Inc.
- Aradigm Corporation
- Alkermes plc
- Sun Pharmaceutical Ltd.
- F. Hoffmann-La Roche Ltd.
- AbbVie Inc.
- Mallinckrodt plc
- Ampac Fine Chemicals
- Siegfried Holding AG
- Pfizer Inc.
- Novartis AG
- GlaxoSmithKline plc
- Sanofi S.A.
- Bristol-Myers Squibb
- Eli Lilly and Company
- AstraZeneca
- Teva Pharmaceutical Industries
- Viatris Inc.
- Boehringer Ingelheim
- Gilead Sciences
- Amgen
- Regeneron Pharmaceuticals
- Abbott Laboratories
- Mallinckrodt Pharmaceuticals
- Endo International
- Catalent
- Cambrex Corporation
- Lonza Group
- Indivior plc
- Ipsen SA
Here's a breakdown of the key topics covered in the report:
- Controlled Substance Market Characteristics
- Describes the defining features of the controlled substance market.
- Controlled Substance Market Trends and Strategies
- Explores the current trends and strategic approaches within the market.
- Controlled Substance Market - Macro Economic Scenario
- Analyzes the impact of various macroeconomic factors such as inflation, geopolitical conflicts (e.g., Ukraine-Russia war), and the COVID-19 pandemic on the market.
- Global Controlled Substance Market Size and Growth
- Examines the market's historical and forecasted size and growth, along with drivers and restraints influencing market dynamics.
- Controlled Substance Market Segmentation
- Breaks down the market into segments based on drug type, distribution channel, and application, providing historic and forecasted data.
- Controlled Substance Market Regional and Country Analysis
- Provides insights into the market's performance across different regions and countries, including detailed segmentation and analysis for regions like Asia-Pacific, China, India, Japan, Australia, Indonesia, South Korea, Western Europe, UK, Germany, France, Italy, Spain, Eastern Europe, Russia, North America (USA, Canada), South America (Brazil), Middle East, and Africa.
- Controlled Substance Market Competitive Landscape and Company Profiles
- Profiles key companies operating in the market, including an overview of their products/services, strategies, and financial performance.
- Global Controlled Substance Market Competitive Benchmarking
- Benchmarks key players in the market based on various parameters.
- Global Controlled Substance Market Competitive Dashboard
- Provides a dashboard view of the competitive landscape, allowing for easy comparison of key market players.
- Key Mergers and Acquisitions in the Controlled Substance Market
- Highlights significant mergers and acquisitions within the industry.
- Controlled Substance Market Future Outlook and Potential Analysis
- Offers insights into the future outlook of the market, including potential growth opportunities and strategies
For more information about this report visit https://www.researchandmarkets.com/r/kt5jnq
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