Global Controlled Substance Market Segments 2024, Forecast To 2033
5 Mar, 2024
The controlled substance market has shown strong growth, increasing from $89.78 billion in 2023 to $95.98 billion in 2024, reflecting a CAGR of 6.9%. The historical growth is attributed to medical advancements, regulatory frameworks, and the rising incidence of chronic diseases. Projections for 2028 anticipate a market size of $125.96 billion, driven by precision medicine, telemedicine, and continued regulatory updates, maintaining a CAGR of 7.0%. Major trends include regulatory changes and compliance and increasing focus on drug safety and abuse prevention.
Global Controlled Substance Market Key Driver
The increasing demand for medically prescribed drugs is driving the growth of the controlled substance market. Prescription drugs, vital for treating various conditions, constitute a significant portion of the controlled substance market. In 2021, spending on prescription drugs in the U.S. increased by 7.8% to $378.0 billion. This upward trend in demand for prescribed drugs highlights the growth potential of the controlled substance market.
Get A Free Sample Of The Global Controlled Substance Market ReportGlobal Controlled Substance Market Segments
The controlled substance market covered in this report is segmented –
1) By Drug: Opioids, Stimulant, Depressants, Cannabinoids
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Application: Pain Management, Sleep Disorders, Depression And Anxiety, Seizure, Attention Deficit Hyperactivity Disorder (ADHD), Other Applications
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the controlled substance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the controlled substance market report during the forecast period. The regions covered in the controlled substance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Controlled Substance Industry Players
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
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AIOps Controlled Substance Market Overview
A controlled substance is a drug or chemical, such as illegally used drugs or legally prescribed pharmaceuticals, whose production, possession, or usage is governed by a government. A controlled substance medication can lead to physical and mental dependence, and its restrictions are based on the likelihood that it may be abused or lead to dependence. It can help reduce pain and other symptoms, enhancing a person's life.
Controlled Substance Global Market Report 2023 provides data on the global controlled substance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The controlled substance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.