Life Sciences Controlled Substance Ordering System Market Overview
The electronic pharmaceutical industry contains many organisations of differing sizes including controlled substance suppliers, purchasers, manufacturers, practitioners, pharmacies, federal agencies, retailers, distributors and service providers. Pharmaceutical companies within the supply chain wish to reduce costly paperwork like the paper Form-222 by shifting to electronic, centralised, cloud-based systems. This enables them to comply with DEA audit requests, while dramatically reducing implementation cost and time. They are adequately served by the Life Sciences Controlled Substance Ordering System Market.
A Controlled Substance Ordering System (CSOS) is a form of digital identity issued by the Drug Enforcement Administration’s CSOS Certification Authority, allowing electronic ordering of controlled substances under Schedule I, II, III, and IV. The CSOS certificate is the digital equivalent of identity information in the DEA Form-222. The Life Sciences Controlled Substance Ordering System Market mainly caters to individual buyers and it is a mandatory requirement for ordering Schedule I and Schedule II drugs. The CSOS certificate enables the power of attorneys and DEA registrants to order controlled substances electronically by providing identification and authentication details through digital signatures. While the paper DEA form-222 is still technically allowed, the CSOS certificate is the only way Schedule I and II drugs can be ordered today.
Life Sciences Controlled Substance Ordering System Market Drivers
The key drivers of the Life Sciences Controlled Substance Ordering System Market are –
Life Sciences Controlled Substance Ordering System Market Restraints
Some of the Life Sciences Controlled Substance Ordering System Market Restraints are –
Life Sciences Controlled Substance Ordering System Market Key Market Players
Some companies involved in the Life Sciences Controlled Substance Ordering System Market are Axway, Vormetric, Legisym, The Drummond Group, Attain Med and Bound Tree Medical.
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