Looking into the global marketspace for controlled substances, Fact.MR has concluded some vital observations which highlights the burgeoning demand for such products. According to this recently published study titled “Controlled Substances Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2028”, it has been revealed that growing preference for medical marijuana over prescription drugs to control headaches, back problems, depression and pain, despite criminalization, indicates current public health structure that believes cannabis moderation becoming outdated. The study further tries to discourse the expansion plans initiated by global leaders during the forecast period until 2028.
According to research specifics, the controlled substances market acquired value more than US$ 42,000 Mn in 2018, and is further projected to register modest growth at 4% CAGR through 2028. This assessment carefully unravels essential data associated to prime market specifics including market outlook, demand side trends, pipeline assessment, Y-o-Y growth trend analysis, forecast factors as well as market dynamics that comprise of drivers, opportunity and restraints.
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Popularity of Medical Marijuana Uplifting Investor Interest towards Controlled Substances
It has been noticed that approval of medical marijuana has turned out to be a significant boost in various states of the US. Quite recently, the authorization in Canada covering both recreational and medicinal use has been initiated. Such events have greatly contributed to the popularity of cannabis shares, together with efforts of leading controlled substance companies toward abolishing legal barriers as well as attracting investor interest. Based on this study, it is estimated that marijuana sales in 2019 would register a Y-o-Y growth at 9.3% over 2018.
Pain Management Continues to Lead the Application Segment of Controlled Substances
This resourceful Fact.MR study highpoints that pain management would retain its dominance across the application segment; it acquired more than one-fourth share in the controlled substances market in 2018. Furthermore, several regulatory norms are being applied in the prescription of controlled substances linked to pain management. For example, in Georgia, Florida and Michigan, the triggered preference as well as adoption of controlled substances for treating chronic and acute pain have enhanced. In addition, attention deficit hyperactivity disorder (ADHD), as well as anxiety are some other medical conditions which are managed using controlled substance. They are expected to witness promising future prospects in the near future.
North America Showcase Steady Market Opportunities in Coming Years
According to geographical expanse, North America has conventionally been the most rewarding market for controlled substances. It has been observed that sales estimated to record a Y-o-Y of 3.5% in 2019, as compared to statistics measured during 2018. These advancements can be attributes to legalization of various forms of marijuana across the US, together with recent authorization of recreational marijuana sales in Canada.
On the other hand, Latin America is projected to exhibit the fastest growth concerning controlled substances market until 2028. Several nations like Uruguay, and Colombia remain to gain status as attractive market options for medical marijuana in Latin America.
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The final section of the report is purely dedicated to examine the contributions by various market players. Some of the leading manufacturers from the global controlled substances market are CANNABIS SATIVA, INC., Canopy Growth Corporation, The Peace Naturals Project, Takeda Pharmaceutical Company Limited, GW PHARMACEUTICALS PLC, Mallinckrodt plc, SAFC/Cerilliant, Noramco, Inc., Teva Pharmaceuticals, Inc., Johnson Matthey, AMRI, Siegfried AG, Consort Medical, Cayman Chemical, Cambrex and Patheon.
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