Global Controlled Substance Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
8 Jun, 2023
The global controlled substance market size is expected to grow from $83.92 billion in 2022 to $89.78 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global controlled substance market size is expected to reach $116.44 billion in 2027 at a CAGR of 6.7%.
Global Controlled Substance Market Key Driver
The rising demand for medically prescribed medications is likely to drive the restricted substance industry forward. A prescription medicine is one that is meant to be used in the treatment, cure, remediation, therapeutic intervention, or prevention of illness. Controlled substances frequently include prescription medicines. Prescription medications benefit the restricted substance market because they improve patient outcomes while reducing unnecessary spending.
Get a sample of the global controlled substance market reportGlobal Controlled Substance Market Segments
The global controlled substance market 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
4) By Geography: The regions covered in the controlled substance market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global controlled substance market.
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, Depomed Inc., Sun Pharmaceutical Ltd., F. Hoffmann-La Roche Ltd., AbbVie Inc., Mallinckrodt PLC, Ampac Fine Chemicals, Coating Place Inc., Siegfried Holding AG
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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.