Controlled Substances Market Likely to Inflict Positive Growth Trend during 2018 to 2028

Worldwide
sales of the controlled substances closed in on a valuation of US$ 67,000 Mn in
2018, and are projected to record a Y-o-Y growth at 3.5% in 2019, according to
a new Fact.MR study. The study opines that depressants and stimulants have been
top-selling class of drugs in the controlled substances market,
however gains from marijuana are expected to record over 2X faster growth than
all the other controlled substances in 2019 and beyond.

The controlled substances market report
highlights the following players:

  • Teva Pharmaceuticals, Inc.
  • Johnson & Johnson
  • Daiichi Sankyo Company
  • Takeda Pharmaceutical Company Limited
  • Others

The controlled
substances market report examines the operating pattern of each player – new
product launches, partnerships, and acquisitions – has been examined in detail.

Approval of
medical marijuana has been on a significant uptick in various states of the US,
trailed by the legalization in Canada for both recreational and medicinal use
recently. This has tremendously contributed to the popularity of cannabis
stocks, alongside efforts of leading controlled substance manufacturers toward
eliminating legal barriers and attracting investor interest. The study
estimates marijuana sales in 2019 to record a Y-o-Y growth at 9.3% over 2018.

Pain Management Remains Leading Application
of Controlled Substances

The study
opines that pain management will continue to account for over one-fourth share
of the controlled substances market in 2018. Several regulatory norms being
implemented in the prescription of controlled substances for pain management,
such as in Georgia, Michigan, and Florida, have further triggered the
preference and adoption of controlled substances to manage and treat chronic as
well as acute pain. Attention deficit hyperactivity disorder (ADHD), and
anxiety are other medical conditions wherein controlled substances are expected
to witness promising future prospects, according to the study.

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The entrance
of pharmaceutical giants in the cannabis sector of Canada alludes the next
significant trend in the controlled substances industry, offering additional
credibility to the sector. Although the pharmaceutical part of the expression
involves the missing link, an ongoing trend of M&A and entrance of these
legacy industries is poised in 2019 and the foreseeable future. There has been
a drought in direct investments from the pharmaceutical industries in the
licensed medical marijuana producers, it is highly likely that the trend would
change, as the US witnesses the federal legalization of cannabis. Big
pharmaceutical companies that eye collaborations and partnerships with cannabis
producers having competitive differentiation circling their R&D
initiatives, commercialization efforts, and clinical trial programs, are likely
to witness significant revenue generation in the near future.

Ensuring
effective and safe management of controlled drugs continues to remain an
imperative agenda among pharmacists, which in turn has led the focus on
fundamental changes including reviewing of liquid CD management and CD
documentation to realize substantial improvements. The pharmacists are also
adhering to the operational standards, completely aware about the way CDs are
managed, along with identifying potential drawbacks and reporting concerns
regarding non-conformance. This will result in adherence to appropriate steps
that ensure apt prescription of quantities when dispensing controlled
substances to patients.

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about Report @
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This Fact.MR
report also offers an accurate forecast of the controlled substances market for
the period between 2018 and 2028. The controlled substances market is envisaged
to record a CAGR of 4% through 2028.

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