According to a new report published by Allied Market Research, titled, โControlled Substance Market: Global Opportunity Analysis and Industry Forecast 2020-2027โ One of the biggest challenge faced by prescriber of drugs is that every individual requires different levels of tolerance and variable opioid doses to obtain adequate pain relief. Controlled substances are medications or illicit drugs which are active in the central nervous system and can potentially cause a relative physical and mental dependence which can lead to addiction of those drugs. Furthermore, these substances can have harmful effects and health consequences when consumed high doses. These drugs have extensive implications on filling and refilling of these substances. In 1970, five specific ‘Schedules’ describing abuse potential, with Schedule 1 having the highest potential for abuse and each schedule thereby after that with low abuse potential were established under Controlled Substances Act. Manufacturers and dispensaries of these drugs, require a prior registration with the Drug Enforcement Agency (DEA), the organization responsible for regulating controlled substances at the federal level. Controlled substances consists of drugs like opioids, depressants, stimulants, anabolic steroids and hallucinogens. Controlled substances such as morphine, Ritalin and Valium are available only via prescription.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ ๐๐จ๐ฎ๐๐ก๐๐ซ: https://www.alliedmarketresearch.com/request-sample/8561
COVID-19 Scenario Analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to chondroitin sulfate has been reduced and this segment have to face negligence subsequently causing negative impact on controlled substances market
Growing number of prescription medicine, rising preference of physicians for prescribing controlled substances as they offer high-therapeutic efficacy, better patient response and reduced treatment cost over the conventional drug delivery systems are expected to boost the growth. Due to highly competitive market, the pharmaceutical firms actively keep experimenting as per industry needs and fund the R&D activities to innovate solutions and better drug delivery systems would fuel the market growth. Heavy funding to R&D activities by key market players for developing highly efficient treatments and therapies for chronic such as cancer, diabetes, and hypertension is expected to surge the demand in the market for controlled substances. For example, TAR-200 (Gemcitabine) used in treatment of bladder cancer includes a controlled release drug delivery system which is a product by biomedical company Taris
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The key market players profiled in the report include GW Pharmaceuticals, Orbis Biosciences Inc., Merck and Co. Inc., Alkermes plc, Johnson and Johnson, Corium International Inc., Depomed Inc., Pfizer Inc, Aradigm Corporation and Capsugel.
๐๐๐ฒ ๐๐๐ง๐๐๐ข๐ญ๐ฌ:
- This study presents the analytical depiction of the global controlled substance industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global controlled substance market share.
- The current market is quantitatively analysed from 2020 to 2027 to highlight the global controlled substance market growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global controlled substance market analysis based on competitive intensity and how the competition will take shape in coming years.
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