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Global Medical Morphine Market Size was valued at USD 21.7 Billion in 2022. The Medical Morphine market industry is projected to grow from USD 23.5 Billion in 2023 to USD 40.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.70% during the forecast period (2023 - 2032). The prevalence of orthopaedic conditions and chronic pain is rising, and there are more palliative care facilities and more people using morphine for pain management, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
The increase in the prescription of painkillers for a number of diseases, including cancer, cardiovascular issues, and arthritis, is predicted to hasten the market expansion between 2021 and 2028. The susceptibility of the ageing population and related medical problems are also anticipated to encourage the growth of the medical morphine sector. Additionally, market expansion is predicted to be fueled by the expanding patient population and the accelerating rate of market participant penetration. The growth of the global medical morphine market is also predicted to be impacted by the increased incidence of cancer and other diseases, such as cardiovascular problems. The market is expanding mostly due to the rising use of morphine as a painkiller. Morphine is one of the best methods for reducing pain. Additionally, most regions of the world permit its use in the management of severe and ongoing pain associated with complicated medical conditions. Additionally, the increased prevalence of orthopaedic disorders like osteoporosis, fibromyalgia, arthritis, and elbow pain is a major driver driving the rise of the medical morphine market value.
Morphine is one of the most effective drugs for pain management. Additionally, it is well acknowledged that using it to treat severe and persistent pain associated with significant medical illnesses is standard practises. In addition, the increased incidence of orthopaedic conditions such osteoporosis, fibromyalgia, elbow pain, and arthritis is a major contributor to the market expansion for morphine. In accordance with an update from the World Health Organisation released in February 2021, 1.71 billion individuals globally experience musculoskeletal issues. The most widespread kind, low back ache, affects 568 million people worldwide. Since musculoskeletal problems are one of the leading causes of disability worldwide, the demand for its treatments is fueling the growth of the morphine market over the research period.
More than 32.5 million Americans have osteoarthritis in 2020, according to the Centres for Disease Control and Prevention. In the UK, the prevalence of osteoarthritis is constantly increasing. Furthermore, orthopaedic disorders are more prone to cause discomfort in elderly adults. As a result, the market will grow during the study period due to the predicted rise in the number of senior persons. As a result of the aforementioned variables, it is therefore projected that the studied market will be strongly driven during the study period. The growing number of people having surgeries has also had a favourable impact on the demand for opioids, especially for post-operative pain management, promoting quick recovery, and reducing patient issues. Additionally, the introduction of novel opioid varieties as a result of generic manufacturers' greater focus on the abuse-deterrent formulation (ADF) has increased demand for them as effective painkillers. Thus, driving the Medical Morphine market revenue.
The global Medical Morphine market segmentation, based on Route of Administration, includes Oral and Injectables. Injectables segment dominated the global market in 2022. This is due to its enduring effects and prompt pain relief. The frequency of neurological diseases and the chronic pain they cause has also boosted the desire for drugs that instantly relieve pain, which has increased demand for the injectable market sector. For instance, 12% of Americans experience migraines, according to Medline.
The global Medical Morphine market segmentation, based on Distribution Channel, includes Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, and Others. Online pharmacy segment dominated the global market in 2022. This is primarily due to the healthcare sector's swift adoption of IoTs and the predicted period's strong segmental expansion, which has been made possible by expanding internet penetration. 5.25 billion people, or 6.6% of the world's population, utilise the internet, and it is expected that this figure will go up in the future.
The global Medical Morphine market segmentation, based on Application, includes Myocardial Infarction, Diarrhea, Arthritis, Kidney Stones, Cancer, and Others. Cancer segment dominated the global Medical Morphine market in 2022. Most of this is a result of the increase in cancer cases, which start chronic discomfort. For instance, the WHO estimates that 10 million deaths would be caused by cancer globally in 2020.
The global Medical Morphine market segmentation, based on End User, includes Hospitals and Clinics, Ambulatory Surgical Centers, and Home Care. Hospitals and clinics segment dominated the global Medical Morphine market in 2022. This is a result of how easily accessible medicines are in clinics and hospitals. According to the CDC, 43.3 tablets per 100 individuals were prescribed morphine in the United States in 2020, which translates to 142.81 million prescriptions. It is predicted that high prescriptions will segment up as a result.
Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Medical Morphine Market dominated this market in 2022 (45.80%). The existence of significant competitors, the prevalence of chronic diseases in the region, and the well-developed healthcare infrastructure are only a few of the critical factors influencing the market's expansion. Further, the U.S. Medical Morphine market held the largest market share, and the Canadian medical Morphine market was the fastest-growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
Europe Medical Morphine market accounted for a healthy market share in 2022. The market is expected to grow more quickly as a result of favorable government measures and an increase in research collaboration activity, among other things. Further, the German Medical Morphine market held the largest market share, and the UK medical Morphine market was the fastest-growing market in the European region.
The Asia Pacific Medical Morphine market is expected to register significant growth from 2023 to 2032. The rising incidence of chronic diseases, especially cardiovascular conditions, is one of the primary factors driving market expansion. China is anticipated to experience the fastest increase due to its expanding population, greater patient pool, and simple access to cutting-edge therapies. Due to increased health spending in the region, the market for medicinal morphine in Asia and the Pacific is growing. Moreover, China’s Medical Morphine market held the largest market share and the Indian Medical Morphine market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Medical Morphine market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Medical Morphine industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Medical Morphine industry to benefit clients and increase the market sector. In recent years, the Medical Morphine industry has offered some of the most significant advantages to medicine. Major players in the Medical Morphine market, including Alcaliber S.A Pfizer Inc., Sun Pharmaceutical Industries Ltd., Taj Pharmaceuticals Limited, MANUS AKTTEVA BIOPHARMA LLP, Mallinckrodt Pharmaceuticals, Purdue Pharma L.P., Johnson Matthey Fine Chemicals, Verve Health Care Ltd., and NORTHEAST PHARM, are attempting to increase market demand by investing in research and development Route of Administrations.
Generic and brand-name injectable, intranasal, and inhalation drugs are developed, produced, and sold by a specialised pharmaceutical company known as Amphastar Pharmaceuticals Inc. (Amphastar). It sells medicinal products that contain insulin as a main ingredient. Some of the company's most popular goods include enoxaparin sodium injection, cosyntropin for injection, naloxone hydrochloride (HCl) injection, phytonadione injection, lidocaine jelly, amphadase hyaluronidase injection, epinephrine, naloxone, phytonadione, primatene mist, and glucagon. Amphastar offers its products for sale to long-term care facilities, medical centres, clinics, and other sites offering alternative care. The corporation offers its goods through subsidiaries, specialised distributors, wholesalers, and retailers in the US, the UK, France, and China. Amphastar's headquarters are in Rancho Cucamonga, California, in the US. In May 2021, the FDA gave Amphastar Pharmaceuticals (US) permission to inject morphine sulphate.
Pharmacologic medications are made by the pharmaceutical company Purdue Pharma LP (Purdue) to treat and control pain. In addition to other healthcare-related products, the company develops, produces, and markets prescription and over-the-counter (OTC) medicines. Some of its key product categories include dietary supplements, laxatives, antiseptics, sedatives for sleep issues, and prescription opioids. It sells a variety of products, including Butrans, Hysingla, OxyContin, Senokot, Colace, Peri-Colace, Betadine, and SlowMag. Additionally, the company performs clinical studies on recently approved pharmaceuticals and experimental ones. The company has locations in North Carolina and New Jersey. Purdue's headquarters are in Stamford, Connecticut, which is a part of the US. In September 2018, Purdue Pharma (US) received a patent for an enhanced buprenorphine formulation that lessens cravings and is used to treat opioid addiction, particularly OxyContin addiction.
· Alcaliber S.A Pfizer Inc.
· Sun Pharmaceutical Industries Ltd.
· Taj Pharmaceuticals Limited
· MANUS AKTTEVA BIOPHARMA LLP
· Mallinckrodt Pharmaceuticals
· Purdue Pharma L.P.
· Johnson Matthey Fine Chemicals
· Verve Health Care Ltd.
· NORTHEAST PHARM
May 2022: Researchers from the University of Arizona Health Sciences and the Oklahoma State University Centre for Health Sciences have joined forces to confront the opioid issue and find and create state-of-the-art medicines for the management of chronic pain.
October 2021: According to research done at the University of California, Irvine, the Corydalis yanhusuo plant extract reverses opiate addiction while also reducing morphine tolerance and dependency.
· Oral
· Injectables
· Hospital Pharmacy
· Online Pharmacy
· Retail Pharmacy
· Others
· Myocardial Infarction
· Diarrhea
· Arthritis
· Kidney Stones
· Cancer
· Others
· Hospitals and Clinics
· Ambulatory Surgical Centers
· Home Care
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 21.7 Billion |
|
Market Size 2023 |
USD 23.5 Billion |
|
Market Size 2032 |
USD 40.8 Billion |
|
Compound Annual Growth Rate (CAGR) |
7.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Route of Administration, Distribution Channel, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Alcaliber S.A Pfizer Inc., Sun Pharmaceutical Industries Ltd., Taj Pharmaceuticals Limited, MANUS AKTTEVA BIOPHARMA LLP, Mallinckrodt Pharmaceuticals, Purdue Pharma L.P., Johnson Matthey Fine Chemicals, Verve Health Care Ltd., and NORTHEAST PHARM |
|
|
Key Market Opportunities |
· Rapid rise in awareness regarding treatment and technological advancements |
|
Key Market Dynamics |
· The rising prevalence of orthopedic diseases and chronic pain, increasing palliative care facilities, and the rise in the usage of morphine for pain management |
The global Medical Morphine Market was valued at USD 21.7 billion in 2022, and it is estimated to reach USD 40.8 billion by 2032.
The global market is projected to grow at a CAGR of 7.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Alcaliber S.A Pfizer Inc., Sun Pharmaceutical Industries Ltd., Taj Pharmaceuticals Limited, MANUS AKTTEVA BIOPHARMA LLP, Mallinckrodt Pharmaceuticals, Purdue Pharma L.P., Johnson Matthey Fine Chemicals, Verve Health Care Ltd., and NORTHEAST PHARM
The Injectables Route of Administration dominated the market in 2022.
The Online Pharmacy Distribution Channel had the largest share in the global market.
Report Code :
RL6548
Published on :
Aug 2023
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