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Pharmaceutical

What are Key Growth Influencers of the Controlled Substances Market

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.

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.

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“The Schedule of Controlled Substances currently positions marijuana in Schedule 1 – the most restrictive one reserved for “high potential for abuse,” “lack of accepted safety” and “no accepted medical use” drugs. Federal scheduling of marijuana has been a key concern among producers and medical patients alike, despite legalization of cannabis in the US and Canada. The US Drug Enforcement Administration has recently removed cannabidiol from Schedule 1, post-FDA approval of non-synthetic, cannabis-derived medicine. Marijuana businesses have cheered the DEA’s action, as it alludes the beginning of regulatory relaxation to the cannabis industry,” according to a lead analyst at Fact.MR.

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.

controlled substances market taxonomy

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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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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Categories
Pharmaceutical

Marijuana Sales Surging in Controlled Substances Market as Cannabis Gains Popularity as The Next Stock Market Trend: Says Fact.MR

Controlled Substances Market size is done based on a triangulation methodology that is primarily based on experimental modelling approaches such as patient-level data or disease epidemiology for any key indications , number of procedures and install base analysis for any equipment to obtain precise market estimations  for the base year as well as in historic data analysis. Bottom-up approach is always used to obtain Controlled Substances insightful data for the specific country/regions.

The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Controlled Substances market and quantified with insightful rationale. The report further highlights macro- and micro-economic factors influencing growth of the controlled substances market worldwide. Key inclusions in the report have been detailed below.

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Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.

The Market survey of Controlled Substances offers a comprehensive analysis of diverse features, including production capacities analysis of Controlled Substances, demand, product developments, revenue generation, and Size of Controlled Substances Market across the globe.

controlled substances market taxonomy

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Some Notable Offerings by Fact.MR Report on Controlled Substances market:

  • We will provide you an analysis of the extent to which this Controlled Substances market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
  • We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
  • Also, this report will help you to identify any trends to forecast growth rates.
  • The analyzed report will forecast the general tendency for supply and demand.

Key Parameters analyzed while estimating the Controlled Substances market include:

  • To analyze Drugs/ Therapeutic Area in Controlled Substances :

Overall Population by age group/Prevalence or Incidence of any disease/Treatment Seeking Rate/Dosage pattern/Average duration of treatment/Overall treatment cost and Reimbursement are considered.

  • To analyze Consumables of Controlled Substances:

Overall Population/Prevalence or Incidence of disease/treatment seeking rate/ average duration of the treatment/average number of devices used per patient / average number of procedure per device/ average selling price per device/reimbursement are considered.

  • To analyze Controlled Substances Equipment:

Number of Healthcare facilities (Hospitals/Ambulatory Surgical Centers/Clinics etc.)

Average number of devices installed per facilities/ lifespan of the devices/replacement rate of the equipment/new sales of the equipment per year/average selling price per equipment are considered.

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Controlled Substances Market – Competition Landscape

  • GW Pharmaceuticals has announced its plan of epidiolex (CBD or cannabidiol) development program in 2018, to combat infantile spasms, which according to the company is the fourth largest target indication for its program of epidiolex orphan pediatric epilepsy development.
  • Molecular Science Corporation and Canopy Growth entered into a strategic collaboration in 2018, to pioneer standardized testing methods for analyzing and enhancing the efficacy of cannabis testing, its safety awareness and product knowledge.
  • Aphria Incorporation has signed an exclusive agreement with Colcanna SAS for extending its medical cannabis sales in Columbia. Aphria eyes to leverage the large distribution footprint of Colcanna SAS to market its MMJ products in Columbia.

Key players operating in the controlled substances market, as identified in the report, include CANNABIS SATIVA, INC., The Peace Naturals Project, Canopy Growth Corporation, GW PHARMACEUTICALS PLC, Takeda Pharmaceutical Company Limited, Teva Pharmaceuticals, Inc., Mallinckrodt plc, SAFC/Cerilliant, Noramco, Inc., Johnson Matthey, Siegfried AG, AMRI, Cayman Chemical, Consort Medical, Patheon, and Cambrex.

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How Fact.MR Assists in Making Strategic Moves For Controlled Substances Market Manufacturer?

  • The data provided in the Controlled Substances market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
  • The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

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About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

Visit Our Website: https://www.factmr.com