Press release
Controlled Substance Market Poised to Hit $133.97 Billion by 2029 with Accelerating Growth Trends
Controlled Substance Market
Controlled Substance Market Size Growth Forecast: What to Expect by 2025?
The market size for controlled substances has seen robust growth in recent years. The market, valued at $94.86 billion in 2024, is predicted to reach $100.19 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. This growth over the historic period was propelled by advances in medicine, structured regulatory bodies, a surge in chronic diseases, growth in the pharmaceutical sector, global trade, and cooperative efforts.
How Will the Controlled Substance Market Size Evolve and Grow by 2029?
The market size of controlled substances is projected to witness robust expansion in the coming years, reaching a valuation of ""$133.97 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%. The anticipated increase within this forecast period can be credited to the rise of precision medicine, telemedicine and remote health care, options for opioid alternatives, ongoing regulatory amendments, and heightened attention on mental health. The prediction period is also expected to see key trends such as regulatory alterations and compliance, amplified concentration on drug safety and prevention of abuse, evolution in drug delivery technologies, and the rising presence of biosimilars and generic counterparts. This period will also note the blend of digital health solutions into the mix.
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What Drivers Are Propelling the Growth of Controlled Substance Market Forward?
The growth of the controlled substance market is anticipated to be fueled by the rising demand for medically prescribed drugs. Referring to the type of drugs used in the treatment, cure, mitigation, therapeutic intervention, or prevention of diseases, prescription drugs form a substantial part of the controlled substances. The beneficial impact they have on the patients' results and the reduction of unnecessary expenditures prove advantageous for the controlled substance market. For example, a report released by the Centers for Medicare and Medicaid Services (CMS), a federal agency based in the USA, stated that there was an 8.4% rise in prescription drug expenditures, totaling $405.9 billion in 2022 when compared to a 6.8% rise in 2021. Consequently, this surge in demand for medically prescribed drugs is catalyzing the expansion of the controlled substance market.
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Which Fast-Growing Trends Are Poised to Disrupt the Controlled Substance Market?
One of the prominent trends in the controlled substance market is product innovation. Key players in this sector are developing new products and drugs to maintain their market standing. For example, in January 2022, UK-based medicine management solutions provider CMM (CareFlow Medicines Management Ltd.) formed a partnership with Australian health care software provider Modeus to inaugurate their Controlled Drug Manager (CD Manager). This innovative platform for managing controlled substances is designed for the efficient management and monitoring of controlled drugs, including ones owned by patients. The revolutionary CMM CD Manager, equipped with Modeus technology, can interface with both CMM's medication management platform and other external systems. It has been designed for clinical staff and pharmacists in the pharmacy, wards, and theatres of hospitals where regulated drugs are stored. Thanks to comprehensive reporting capabilities, the CD Manager greatly helps Controlled Drug Accountable Officers keep track of the lifecycle of controlled drugs within their organization, and allows for swift action in response to automated alerts about discrepancies or potential diversion.
What Are the Key Segments in the Controlled Substance Market?
The controlled substance market covered in this report is segmented -
1) By Drug: Opioids, Stimulant, Depressants, Cannabinoids
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Application: Pain Management, Sleep Disorders, Depression And Anxiety, Seizure, Attention Deficit Hyperactivity Disorder (ADHD), Other Applications
Subsegments:
1) By Opioids: Natural Opioids, Semi-Synthetic Opioids, Synthetic Opioids
2) By Stimulants: Amphetamines, Methylphenidate, Coca*ine
3) By Depressants: Benzodiazepines, Barbiturates, Sleep Medications
4) By Cannabinoids: TH*C (Tetrahydrocannabinol), CB*D (Cannabidiol), Synthetic Cannabinoids
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Who Are the Key Players Shaping the Controlled Substance Market's Competitive Landscape?
Major companies operating in the controlled substance market include Merck & Co. Inc., Johnson and Johnson Services Inc., Orbis Biosciences Inc., GW Pharmaceuticals plc, Corium Inc., Aradigm Corporation, Alkermes plc, Sun Pharmaceutical Ltd., F. Hoffmann-La Roche Ltd., AbbVie Inc., Ampac Fine Chemicals, Siegfried Holding AG, Pfizer Inc., Novartis AG, GlaxoSmithKline plc, Sanofi S.A., Bristol-Myers Squibb, Eli Lilly and Company, AstraZeneca, Teva Pharmaceutical Industries, Viatris Inc., Boehringer Ingelheim, Gilead Sciences, Amgen, Regeneron Pharmaceuticals, Abbott Laboratories, Mallinckrodt Pharmaceuticals, Endo International, Catalent, Cambrex Corporation, Lonza Group, Indivior plc, Ipsen SA
What Geographic Markets Are Powering Growth in the Controlled Substance Market?
North America was the largest region in the controlled substance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the controlled substance market report during the forecast period. The regions covered in the controlled substance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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