Controlled substance is mostly a drug or chemical, whose usage is regulated by the authorities. Some of the illegal drugs are used for medication in some treatment cases, but it needs proper prescription from the doctor and approval to purchase the drugs from pharmacies. The prescribed illegal drugs are provided in proper quantity to avoid over dose by the patient or the usage by other members associated with patients. Some of the illegal drugs are provided by doctors at the treatment point only to avoid over dose and other use of illegal drugs by other person. The governments across the globe have defined many laws to control the illegal drugs use by various age groups in different regions. Various acts have been implemented by federal government to control the sale of illegal drugs, which come under controlled substance. The controlled substance is segmented into five schedule section to separate different drugs based on the use, property and other factors. The schedule I holds the controlled substance that are not used for medically and have high level of potential abuse. Schedule II cover narcotics and other stimulants for abuse, schedule III holds low potential for abuse in individual, schedule IV controlled substance has low probable then schedule III controlled substance and schedule V this are the controlled substance used in limited quantity for syrups and other medicines. Controlled substance are monitored and regulated by government laws to avoid excess use by populations and reduce the addition level among various age groups.
Controlled Substances Market: Drivers and Restraints
The controlled substances market is expected to have lucrative growth over the forecast period due to increasing number of controlled substance testing laboratories in various geographies along with growing illegal drugs abuse via prescriptions drugs by patients or by associated members with patients. According to the NSDUH (National Survey on Drug Use and Health) in recent year, approx. 2.4 million people in the U.S. are using prescribed controlled substance for non-medical purpose. The controlled substance market are facing current hindrance lower reimbursement scenario in various geographical region and lack of awareness of controlled substance among healthcare professional.
Controlled Substances Market: Overview
The global market for controlled substances is estimated to be a growing market, as the use of controlled substance is increasing among various geographies. The hospitals and diagnostics laboratories are the most prominent end users for controlled substance, which add values to the current market for controlled substances. The controlled substance are used under control to avoid over dose of drugs type such as pentobarbital, buprenorphine and others.
Controlled Substances Market: Regional Outlook
Geographically, the global controlled substances market is segmented into North America, Latin America, Europe, CIS & Russia, Japan, Asia-Pacific excluding Japan (APEJ) and the Middle East & Africa (MEA). North America is expected to account major share in the global market as the laws are stringent which follow all the guide line for controlled substance and well established medical system which increase the number of testing or monitoring the controlled substance levels. Latin America is expected to show slow growth as the awareness regarding controlled substance is limited within the region. Asia-Pacific excluding Japan (APEJ) is expected to have sluggish growth over the forecast period.
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Controlled Substances Market: Key Players
The global market for controlled substances is highly fragmented. Examples of some of the key players operating in the global controlled substances market are Drägerwerk AG & Co. KGaA ,Quest Diagnostics, Shimadzu Corporation, Siemens Healthineers (Siemens AG), Thermo Fisher Scientific, Inc., F. Hoffmann La-Roche Ltd, Laboratory Corporation of America Holdings, Alere, Inc. (Sub. Abbott Laboratories), and Express Diagnostics International Inc., among others.