Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The "Controlled Substance Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global controlled substance market is poised for substantial growth, with an anticipated increase from $83.92 billion in 2022 to $89.78 billion in 2023, demonstrating a robust compound annual growth rate (CAGR) of 7%. Furthermore, the market is projected to achieve a value of $116.44 billion by 2027, maintaining a steady CAGR of 6.7% from 2023 to 2027.
Key Market Trends:
- Product Innovations: The controlled substance market is witnessing a notable trend of product innovations. Leading companies are actively developing new drugs and solutions to bolster their market presence. For instance, CareFlow Medicines Management Ltd. partnered with Modeus to launch an innovative Controlled Drug Manager platform designed for the safe management and tracking of controlled drugs, enhancing patient safety and compliance.
- Strategic Acquisitions: In November 2021, ANI Pharmaceuticals Inc. acquired Novitium Pharma for $163.5 million, strengthening its research and development capabilities, expanding its generics and contract development and manufacturing organization (CDMO) businesses, and establishing a compliant US production facility.
Market Dynamics:
- Regional Dominance: North America emerged as the largest region in the controlled substance market in 2022, while Asia-Pacific is expected to experience the highest growth in the forecast period.
- Growing Demand for Medically Prescribed Drugs: Increasing demand for medically prescribed drugs is a major driver of the controlled substance market. Prescription drugs, including controlled substances, play a vital role in improving patient outcomes and reducing healthcare costs.
Market Segmentation:
- The controlled substance market encompasses various drug categories, including opioids, stimulants, depressants, and cannabinoids.
- Distribution channels for controlled substances include hospital pharmacies, retail pharmacies, and online pharmacies.
- Applications of controlled substances span pain management, sleep disorders, depression and anxiety treatment, seizure management, attention deficit hyperactivity disorder (ADHD) treatment, and others.
Impact of Global Events:
- The report acknowledges the impact of the Russia-Ukraine war, COVID-19 pandemic, and inflation on the global economy and its indirect effects on the controlled substance market.
Reasons to Purchase:
- Gain insights into the global and regional dynamics of the controlled substance market.
- Understand the market's response to global events and challenges.
- Assess the impact of inflation on market growth.
- Identify growth segments and investment opportunities.
- Benchmark performance against key competitors.
Key Questions Answered:
- What is the expected growth of the global controlled substance market in 2023?
- How have global events such as the Russia-Ukraine war and COVID-19 impacted the market?
- What are the key trends and drivers in the controlled substance market?
- Which regions and countries are poised for the highest growth?
- How does the increasing demand for medically prescribed drugs influence market growth?
Despite global challenges, the controlled substance market exhibits substantial growth prospects. Innovations in product offerings and strategic acquisitions are key strategies driving market expansion. Additionally, the rising demand for medically prescribed drugs underscores the market's growth potential. Stakeholders in the pharmaceutical and healthcare sectors should closely monitor these trends and consider strategic investments to capitalize on market opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $89.78 billion |
| Forecasted Market Value (USD) by 2027 | $116.44 billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Controlled Substance Market Characteristics
3. Controlled Substance Market Trends And Strategies
4. Controlled Substance Market - Macro Economic Scenario
4.1. COVID-19 Impact On Controlled Substance Market
4.2. Ukraine-Russia War Impact On Controlled Substance Market
4.3. Impact Of High Inflation On Controlled Substance Market
5. Controlled Substance Market Size And Growth
5.1. Global Controlled Substance Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Controlled Substance Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Controlled Substance Market Segmentation
6.1. Global Controlled Substance Market, Segmentation By Drug, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Opioids
- Stimulant
- Depressants
- Cannabinoids
6.2. Global Controlled Substance Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
6.3. Global Controlled Substance Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pain Management
- Sleep Disorders
- Depression And Anxiety
- Seizure
- Attention Deficit Hyperactivity Disorder (ADHD)
- Other Applications
7. Controlled Substance Market Regional And Country Analysis
7.1. Global Controlled Substance Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Controlled Substance Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Major players in the Controlled Substance market are
- Merck & Co. Inc.
- Johnson and Johnson Services Inc.
- Orbis Biosciences Inc.
- GW Pharmaceuticals PLC
- Corium Inc.
- Pfizer Inc.
- Aradigm Corporation
- Alkermes PLC
- Depomed Inc.
- Sun Pharmaceutical Ltd.
- F. Hoffmann-La Roche Ltd.
- AbbVie Inc.
- Mallinckrodt PLC
- Ampac Fine Chemicals
- Coating Place Inc.
- Siegfried Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/dyjs4g
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