What are the Historical Developments and Current Growth Metrics of the Controlled Substance Market?
The controlled substance market has seen considerable growth due to a variety of factors.
• The scale of the controlled substance market has experienced considerable growth in the past few years. The market is projected to escalate from $94.86 billion in 2024 to $101.15 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. Factors contributing to growth during the historic period include medical innovations, regulatory systems, increasing occurrence of chronic conditions, growth in the pharmaceutical sector, global commerce, and cooperation.
What Does Future Hold for The Controlled Substance Market By 2029?
The Controlled Substance market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of controlled substances is anticipated to witness a robust growth, to reach $136.51 billion by 2029, growing at a CAGR of 7.8%.
This predicted growth within the projected period can be ascribed to factors such as precision medicine, telemedicine and remote healthcare, opioid substitutes, consistent regulatory updates and increased attention to mental health. The forecast period could see major trends such as changes in regulations and compliance, an intensified focus on drug safety and prevention of abuse, advancements in drug delivery technologies, the rise of biosimilars and generic versions, and the incorporation of digital health solutions.
What Are The Primary Growth Drivers In The Controlled Substance Market?
The growing need for medicine prescribed by doctors is anticipated to drive the expansion of the controlled substance market. Prescription drugs are medications designed for managing, treating, rectifying, therapeutically intervening, or preventing diseases, and they are often classified under controlled substances. The controlled substance market greatly benefits from prescription drugs as they improve patient outcomes and reduce wasteful expenditure. For example, a report from the Centers for Medicare and Medicaid Services (CMS), a federal agency in the US, in September 2024 revealed that spending on prescription medications escalated by 8.4% to $405.9 billion in 2022, a considerable increase from the 6.8% growth in 2021. Consequently, the escalating demand for medicines prescribed by doctors is propelling the growth of the controlled substance market.
What Is The Segmentation Of The Global Controlled Substance Market?
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
Subsegments:
1) By Opioids: Natural Opioids, Semi-Synthetic Opioids, Synthetic Opioids
2) By Stimulants: Amphetamines, Methylphenidate, Cocaine
3) By Depressants: Benzodiazepines, Barbiturates, Sleep Medications
4) By Cannabinoids: THC (Tetrahydrocannabinol), CBD (Cannabidiol), Synthetic Cannabinoids
Pre-Book The Controlled Substance Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Shaping The Controlled Substance Market Landscape?
Innovation in products is a prominent trend emerging in the controlled substance industry. Established companies in this sector are introducing novel products and medications to maintain their market standing. For example, in January 2022, UK's CareFlow Medicines Management Ltd. (CMM) collaborated with Australia's healthcare software firm, Modeus, to debut its Controlled Drug Manager (CD Manager). This groundbreaking controlled drug management system is purposed for secure control and tracking of regulated drugs, encompassing patients' personal medicines. This groundbreaking CMM CD Manager, enhanced by Modeus, is designed to interact with both CMM's medication management platform and other external systems. It's intended for use by clinical staff and pharmacists in hospital settings such as pharmacies, wards, and operating rooms where controlled drugs are stored. With its integrated reporting feature, the CD Manager aids Controlled Drug Accountable Officers in monitoring the life cycle of regulated substances in their organization, offering immediate action responses to automated alerts concerning discrepancies or potential diversion.
Who Are the Key Players In The Controlled Substance Market?
Major companies operating in the controlled substance market include:
• Merck & Co. Inc.
• Johnson and Johnson Services Inc.
• Orbis Biosciences Inc.
• GW Pharmaceuticals plc
• Corium Inc.
• Aradigm Corporation
• Alkermes plc
• Sun Pharmaceutical Ltd.
• F. Hoffmann-La Roche Ltd.
• AbbVie Inc.
• 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
What Are The Regional Insights Into The Controlled Substance Market?
North America was the largest region in the controlled substance market in 2024. 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
