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Global Morphine Market Size was valued at USD 15.7 Billion in 2022. The Morphine market industry is projected to grow from USD 16.1 Billion in 2023 to USD 26.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.40% during the forecast period (2023 - 2032). The growing number of cancer patients, the prevalence of orthopaedic illnesses and chronic pain, and the increased use of morphine for pain relief, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
Additionally, the increased emphasis on the abuse-deterrent formulation (ADF) by generic manufacturers has led to the development of novel opioid variations, which in turn is driving up demand for these medications as efficient painkillers.
Morphine is considered some of the most effective drugs for the management of pain. Moreover, their use in the management of severe pain and chronic pain, which are associated with advanced medical illness, is considered to be standard practice in most parts of the world. Furthermore, the rising occurrence of orthopedic disorders, such as arthritis, elbow pain, fibromyalgia, and osteoporosis, is the primary factor responsible for the rising growth of the morphine market. As per the February 2021 update by World Health Organization, approximately 1.71 billion people have musculoskeletal conditions worldwide. Low back pain causes the highest burden with a prevalence of 568 million people. Musculoskeletal conditions are one of the leading contributors to disability worldwide, thereby driving the need for its therapeutics which in turn is boosting the morphine market towards growth during the study period.
As per the Center for Disease Control and Prevention 2020, over 32.5 million patients were affected by osteoarthritis in the United States. In the United Kingdom, there is a steadily increasing rate of osteoarthritis. Moreover, pain associated with orthopedic diseases is more common in the elderly population. Therefore, the expected rise in geriatric populations will also augment the market growth during the study period. Thus, due to the above-mentioned factors, the studied market is expected to be significantly driven during the study period. Furthermore, the growing number of individuals undergoing surgery has positively influenced the demand for opioids, especially in controlling post-surgical pain, speedy recovery, and reducing the chances of complications in patients. Moreover, the rising focus on the abuse-deterrent formulation (ADF) by generic manufacturers has resulted in the introduction of new opioid variants, which, in turn, is escalating their demand as effective drugs for pain management. Thus, driving the Morphine market revenue.
The global Morphine market segmentation, based on Dosage Form, includes Injection, Oral, and Other Dosage Forms. Injection segment dominated the global market in 2022. This is because of its long-lasting impact and quick pain alleviation. Additionally, there is an increase in demand for the injection segment of the market due to the rising rates of neurological illnesses and the chronic pain they are linked with.
The global Morphine market segmentation, based on Application, includes Pain Management, Diarrhea Suppressant, Cold & Cough Suppressant, and Others. Pain Management segment dominated the global Morphine market in 2022. Pain of any intensity can be treated with morphine, a painkiller. Only really painful conditions that are unmanageable with other painkillers are treated with extended-release morphine pills and capsules. Additionally, opioids are essential for providing sufficient analgesia in acute post-operative conditions.
The global Morphine market segmentation, based on Distribution Channel, includes Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others. Online pharmacies segment dominated the global market in 2022. This is primarily because IoT adoption in the healthcare industry and rising internet penetration have allowed the segment to experience significant segmental growth over the course of the forecast period. 6.6% of the world's population, or 5.25 billion people, use the internet, and that number is anticipated to rise in the future.
The global Morphine market segmentation, based on End User, includes Hospitals & Clinics, Ambulatory Surgical Centers, and Others. Hospitals & clinics segment dominated the global Morphine market in 2022. This is due to the simple accessibility of medications in clinics and hospitals. The CDC estimates that 142.81 million morphine prescriptions were recorded in the U.S. in 2020, with a dispensing rate of 43.3 pills per 100 people. As a result, it is projected that high prescriptions will segment increase.
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By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Morphine Market dominated this market in 2022 (45.80%). The presence of major players, the high frequency of chronic diseases in the area, and the developed healthcare infrastructure are only a few of the important aspects responsible for the market's growth. Further, the U.S. Morphine market held the largest market share, and the Canada 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.
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Europe Morphine market accounted for the healthy market share in 2022. Some of the factors that are anticipated to accelerate market growth include advantageous government initiatives and an increase in the number of research partnerships. Further, the German Morphine market held the largest market share, and the U.K Morphine market was the fastest growing market in the European region.
The Asia Pacific Morphine market is expected to register significant growth from 2023 to 2032. One of the main drivers of market expansion is the increasing prevalence of chronic diseases including cardiovascular issues. Because of its growing population, larger patient pool, and easy access to cutting-edge treatments, China is expected to have the quickest growth. The expansion of the Asia Pacific morphine market is also being aided by rising health spending in the region. Moreover, China’s Morphine market held the largest market share and the Indian 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 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, 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 Morphine industry to benefit clients and increase the market sector. In recent years, the Morphine industry has offered some of the most significant advantages to medicine. Major players in the Morphine market, including Mallinckrodt Pharmaceuticals, Alcaliber, Purdue Pharma, Sanofi Winthrop Industries, Macfarlan Smith, Sun Pharmaceutical Industries, Qinghai Pharmaceutical, Northeast Pharmaceutical Group, Pfizer Inc., Verve Health Care Ltd., Johnson Matthey Fine Chemicals, Manus Aktteva Biopharma LLP, Mayne Pharma Group Limited, Daiichi Sankyo Inc., and Taj Pharmaceuticals Limited, are attempting to increase market demand by investing in research and development Dosage Forms.
A specialised pharmaceutical firm called Amphastar Pharmaceuticals Inc. (Amphastar) creates, produces, and sells both generic and brand-name injectable, intranasal, and inhalation medications. It offers pharmaceutical goods with insulin as an active ingredient. Enoxaparin sodium injection, cosyntropin for injection, naloxone hydrochloride (HCl) injection, phytonadione injection, lidocaine jelly, amphadase hyaluronidase injection, epinephrine, naloxone, phytonadione, primatene mist, and glucagon are some of the company's main products. Amphastar sells its goods to long-term care facilities, hospitals, clinics, and other alternative care locations. In the US, the UK, France, and China, the corporation markets its products through subsidiaries, specialty distributors, wholesalers, and retailers. US state of California's Rancho Cucamonga serves as the home base for Amphastar. Amphastar Pharmaceuticals (US) received FDA approval for its injection of morphine sulphate in May 2021.
Pharmaceutical business Purdue Pharma LP (Purdue) creates pharmacologic medicines for the treatment and management of pain. The business engages in the development, production, and marketing of both prescription and over-the-counter (OTC) medications as well as other healthcare-related items. Prescription opioids, sedatives for sleep problems, laxatives, antiseptics, and dietary supplements are some of its main product categories. Butrans, Hysingla, OxyContin, Senokot, Colace, Peri-Colace, Betadine, and SlowMag are among the items it sells. The business also conducts clinical research on recently released medications and investigational drugs. The business has facilities in New Jersey and North Carolina. In the US, Stamford, Connecticut, serves as the home office for Purdue. An improved version of buprenorphine that reduces cravings and is used to treat opioid addiction, including OxyContin addiction, was patented by Purdue Pharma (US) in September 2018.
· Mallinckrodt Pharmaceuticals
· Alcaliber
· Purdue Pharma
· Sanofi Winthrop Industries
· Macfarlan Smith
· Sun Pharmaceutical Industries
· Qinghai Pharmaceutical
· Northeast Pharmaceutical Group
· Pfizer Inc.
· Verve Health Care Ltd.
· Johnson Matthey Fine Chemicals
· Manus Aktteva Biopharma LLP
· Mayne Pharma Group Limited
· Daiichi Sankyo Inc.
· Taj Pharmaceuticals Limited
May 2022: To address the opioid crisis and find and develop cutting-edge therapies for the management of chronic pain, researchers from the Oklahoma State University Centre for Health Sciences and the University of Arizona Health Sciences have formed a creative alliance.
· Injection
· Oral
· Other Dosage Forms
· Pain Management
· Diarrhea Suppressant
· Cold & Cough Suppressant
· Others
· Hospital Pharmacies
· Retail Pharmacies
· Online Pharmacies
· Others
· Hospitals & Clinics
· Ambulatory Surgical Centers
· Others
· 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 15.7 Billion |
|
Market Size 2023 |
USD 16.1 Billion |
|
Market Size 2032 |
USD 26.9 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.40% (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 |
Dosage Form, Application, Distribution Channel, 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 |
|
Key Companies Profiled |
Mallinckrodt Pharmaceuticals, Alcaliber, Purdue Pharma, Sanofi Winthrop Industries, Macfarlan Smith, Sun Pharmaceutical Industries, Qinghai Pharmaceutical, Northeast Pharmaceutical Group, Pfizer Inc., Verve Health Care Ltd., Johnson Matthey Fine Chemicals, Manus Aktteva Biopharma LLP, Mayne Pharma Group Limited, Daiichi Sankyo Inc., and Taj Pharmaceuticals Limited |
|
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 cancer patient base, and the rise in the usage of morphine for pain management |
The global Morphine Market was valued at USD 15.7 billion in 2022, and it is estimated to reach USD 26.9 billion by 2032.
The global market is projected to grow at a CAGR of 6.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Mallinckrodt Pharmaceuticals, Alcaliber, Purdue Pharma, Sanofi Winthrop Industries, Macfarlan Smith, Sun Pharmaceutical Industries, Qinghai Pharmaceutical, Northeast Pharmaceutical Group, Pfizer Inc., Verve Health Care Ltd., Johnson Matthey Fine Chemicals, Manus Aktteva Biopharma LLP, Mayne Pharma Group Limited, Daiichi Sankyo Inc., and Taj Pharmaceuticals Limited
The Injection Dosage Form dominated the market in 2022
The Pain Management Pharmacy Application had the largest share in the global market.
Report Code :
RL6547
Published on :
Aug 2023
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