Published on : Dec 06, 2019
Controlled substances are the drugs whose manufacture and usage is regulated by the government. These drugs can only be prescribed by the doctors for treatment of any medical disorder.
Opioids are one of the highly addictive controlled drugs which are often presumed to be unsafe. They are prescribed for their significant potential of pain management. Different governing bodies including Centers for Disease Control and Prevention (CDC) provide guidance to medical experts on prescription of controlled substances. A slew of factors including pain management, hormonal disorder, ADHD and sleep disorder increase the demand for controlled drugs.
The global controlled substances market was estimated to be around US$64Bn in the year 2018. It is anticipated to grow at ?7% CAGR in the period 2019-2027. Asia Pacific holds prominent positon in the global market owing to the increase in old age population and introduction of new formulations in drugs.
An intelligence report titled, “Controlled Substance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
Asia Pacific is prominent region
The global controlled substance market can be segmented into geographical regions including North America, Asia Pacific, Latin America, Europe, Middle East and Africa. North America was known to dominate global market in the year 2018. Two primary factors including increase in cases of ADHD in children and arrival of new products drive the controlled substance market of North America. Asia Pacific is witnessing prominent growth in controlled substance market owing to increased demand of these substances from medical professionals for the treatment of cancer pain. Accelerated investments coupled with brimming patient pool are expected to propel Asia Pacific’s controlled substance market.
Major stake holders in global controlled substance market include Hoffmann-La Roche AG, Mallinckrodt plc, Sun Pharmaceuticals Ltd., GW Pharmaceuticals plc and Teva Pharmaceutical Ltd.
Global controlled substance market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global controlled substance market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global controlled substance market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on controlled substance.
An insightful and deep-dive assessment of the competitive assessment of the Global controlled substance market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global controlled substance market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global controlled substance market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global controlled substance market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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