03 December 2020
Visiongain has published a new report on Controlled Substance Market Report 2021-2031: Forecasts by Drug (Opioids, Stimulants, Depressants, and Cannabinoids), by Application (Attention-Deficit/Hyperactivity Disorder (ADHD), Pain Management, Depression, Sleep Disorder, Cough Suppression, Anxiety, Seizure, and Others), by Drug Type (Generic Drugs, and Branded Drugs), by Patient Demographics (Geriatric Patient, Adult Patient, and Pediatric), by End User (Hospitals, Homecare, Specialty Clinics, and Others), by Distribution Channel (Institutional Sale, and Retail Sales) PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Controlled Substance market was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Controlled Substance market and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Controlled Substance Market
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Controlled Substance market. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Increasing Prevalence of Chronic Pain
Chronic pain is pain which lasts longer than six months and can occur fProm post-surgery, arthritis, back pain, headaches, muscle strains and sprains, repetitive stress injuries, fibromyalgia, nerve damage, lyme disease, broken bones, cancer, and among others. Controlled substances (opioids) are majorly recommended for patients associated with advanced cancer for reduction of the discomfort caused due to a diverse group of pain syndrome. Continuous increasing prevalence of chronic pain is increasing demand for controlled substance as treatment for Chronic pain. Due to which increasing prevalence of chronic pain around the world is working as a driver for the controlled substance market.
Increasing Geriatric Population around the World
Geriatric population are at high risk of developing high chronic pain due to bone loss, Nerve damage. Muscle strains due to decreased immunity. Geriatric population requires controlled substance for the treatment of the chronic pain. Number of geriatric population is increasing very rapidly around the world. For instance: According to United Nations, Department of Economic and Social Affairs, Population Division geriatric population (persons aged 65 or over) was 702.9 million in 2019. Continuous increase in number of the geriatric population around the world is increasing demand for controlled substance around the world. Due to which increasing geriatric population around the world is working as a driver for the controlled substance market.
Increasing Strategic Agreements in Cholesterol Lowering Drugs market
Manufactures present in the market are performing various strategic agreements such as product launches or regulatory licenses/approval, acquisitions & merger, new product launches in order to expand their product portfolio with most credible credentials and advanced therapeutic products in the market focus segment. These strategic agreements are expected to create various opportunities in controlled substance market.
Increasing research and development in Controlled Substance
Increasing prevalence of attention-deficit/hyperactivity disorder (ADHD), chronic pain, depression, sleep disorder, cough suppression, anxiety, seizure is leading various manufactures to increase their research and development activities for cholesterol lowering drugs. Research and development activities to increase therapeutic advance and to reduce side effects associated with controlled substance is expected to increase demand of cholesterol lowering drugs.
Top companies (F. Hoffmann-La Roche AG, AbbVie, Inc., Mallinckrodt plc and Pfizer, Inc.) constitute more than XX% share of the global controlled substance market. Other companies profiled in the report include: Sun Pharmaceutical Ltd., Ampac Fine Chemicals, GW Pharmaceuticals plc, Merck & Co., Inc., Depomed, Inc., Coating Place, Inc., Corium International, Inc., Johnson and Johnson Services, Inc., Alkermes plc, Pfizer, Inc. and Orbis Biosciences, Inc.among others Some of the key developments are listed below:
• In 2020, Trevena Inc. has received U.S. Food and Drug Administration approval for Olinvyk (oliceridine), which is an opioid used in acute pain management from moderate to severe in adults. The new product approval is expected to help company in revenue generations from the market focus segments.
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