CONTROLLED SUBSTANCE MARKET ANALYSIS

Controlled Substance MarketSize and Trends

Global Controlled Substance Market size is expected to reach US$ 58.4 Bn by 2030, from US$ 41.8 Bn in 2023, by exhibiting a compounded annual growth rate (CAGR) of 4.9% during the forecast period. Controlled substances are drugs that are regulated by national and international drug enforcement agencies. They are accepted for medical uses but also have high potential for abuse and addiction. Controlled substances are used for pain management, anxiety, insoBnia, Attention-deficit/hyperactivity disorder (ADHD), cough suppression, and others. The key drivers include rising prevalence of chronic diseases, increasing geriatric population, and growth in prescription drug abuse.

Global Controlled Substance Market Trends:

• Growing use of controlled release drugs: Controlled release drugs provide longer and sustained effect thereby reducing dosing frequency. Products like OxyContin CR which is used to is used to treat moderate to severe pain, Nucynta ER are gaining wider acceptance.
• Increasing adoption of e-pharmacies: Online pharmacies are improving access to controlled substance medications, especially in remote areas. Leading e-pharmacies like CVS pharmacy and capsule are partnering with pharmacy benefit management (PBMs).
• Rising emphasis on medication adherence: Key market players are undertaking measures to improve patient compliance to prescribed regimens. Strategies include patient counseling, Short Message Serivcr (SMS) reminders, and online refill services.
• Advances in drug delivery systems: Novel drug delivery technologies like transdermal patches, pre-filled syringes, and nasal sprays are enhancing safety and effectiveness of controlled substances.

 Global Controlled Substance Market Trends:

• Growing use of controlled release drugs: Controlled release drugs provide longer and sustained effect thereby reducing dosing frequency. Products like OxyContin CR which is used to is used to treat moderate to severe pain, Nucynta ER are gaining wider acceptance.
• Increasing adoption of e-pharmacies: Online pharmacies are improving access to controlled substance medications, especially in remote areas. Leading e-pharmacies like CVS pharmacy and capsule are partnering with pharmacy benefit management (PBMs).
• Rising emphasis on medication adherence: Key market players are undertaking measures to improve patient compliance to prescribed regimens. Strategies include patient counseling, Short Message Serivcr (SMS) reminders, and online refill services.
• Advances in drug delivery systems: Novel drug delivery technologies like transdermal patches, pre-filled syringes, and nasal sprays are enhancing safety and effectiveness of controlled substances.

Definition: Controlled substances are drugs or chemicals whose manufacture, possession, or use are regulated by the government under the Controlled Substances Act. They are often classified into "schedules" based on their potential for abuse, risk of dependence, and accepted medical use. Schedule I substances have a high potential for abuse, no currently accepted medical use, and a lack of accepted safety for use under medical supervision. Examples include heroin, LSD, and marijuana.Schedule II substances also have a high potential for abuse which may lead to severe psychological or physical dependences.