PUBLISHER: The Business Research Company | PRODUCT CODE: 1513190
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513190
Morphine drugs encompass a category of medications containing morphine, a potent opioid analgesic derived from the opium poppy plant. These drugs are employed for alleviating moderate to severe pain, typically post-surgical procedures, injuries, or in the management of conditions such as cancer.
The primary dosage forms of morphine drugs include injectable, oral, and other formulations. Injectable forms are designed for administration via injection, delivering rapid effects by bypassing the digestive system. These drugs are distributed through channels such as hospital pharmacies, retail pharmacies, and online platforms, serving various purposes such as pain management, palliative care, diarrhea suppression, anesthesia, cold and cough relief, among others. They are utilized by diverse end users including hospitals, clinics, ambulatory surgical centers, and others.
The morphine drugs market research report is one of a series of new reports from The Business Research Company that provides morphine drugs market statistics, including the morphine drugs industry's global market size, regional shares, competitors with a morphine drugs market share, detailed morphine drugs market segments, market trends, and opportunities, and any further data you may need to thrive in the morphine drugs industry. This morphine drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The morphine drugs market size has grown strongly in recent years. It will grow from $20.50 billion in 2023 to $21.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth observed in the historic period can be attributed to several key factors, including an increase in the number of cancer cases, a rise in the prevalence of orthopedic diseases, an uptick in the number of surgical procedures performed, a growing aging population, and an increase in healthcare expenditure.
The morphine drugs market size is expected to see strong growth in the next few years. It will grow to $28.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period is expected to be driven by factors such as the increasing incidence of cancer cases, rising prevalence of pain-related conditions, heightened awareness and acceptance of palliative care, growing prevalence of chronic disorders, and expanded utilization of opioid medications. Major trends projected for this period encompass advancements in drug formulation technologies, integration of digital health solutions into healthcare practices, adoption of advanced technologies, collaborations and partnerships among healthcare entities, and the development and utilization of implantable medical devices.
The rise in chronic pain conditions is expected to drive the expansion of the morphine drugs market in the coming years. Chronic pain, a complex and persistent discomfort signaling injury or illness, has become a significant global health concern due to various factors such as aging populations, increasing obesity rates, sedentary lifestyles, mental health challenges, and environmental influences. Morphine plays a crucial role in managing chronic pain because of its high effectiveness in pain relief and its ability to be tailored to individual patient needs. This improves quality of life and allows individuals with chronic pain to function better without constant severe pain. For example, as of May 2021, according to the Government of Canada, up to 8.3 million Canadians may experience chronic pain by 2025, with an expected increase to 9.0 million by 2030. Hence, the rising prevalence of chronic pain conditions is fueling the growth of the morphine drug market.
Leading companies in the morphine drug market are focusing on developing morphine sulfate injection to enhance medical treatment options. Morphine sulfate injection is a potent opioid analgesic used for managing severe pain. Derived from opium, it acts by binding to opioid receptors in the brain and spinal cord, altering pain perception and emotional responses. For instance, Hospira, a US-based pharmaceutical and medical device company, introduced Morphine Sulfate Injection, an opioid agonist indicated for severe pain management requiring an opioid analgesic when other treatments are insufficient. It comes in various strengths and formulations, including a preservative-free version for intravenous, epidural, or intrathecal use. The labeling emphasizes associated risks such as addiction, abuse, and misuse, along with serious and potentially life-threatening effects from its use.
In January 2024, Taiwan-based pharmaceutical company CDMO Bora Pharmaceuticals Inc. acquired Upsher-Smith Laboratories Inc. for $210 million. This acquisition is aimed at strengthening Bora's presence in the generics market, potentially expanding its product range, enhancing manufacturing capacity, fostering innovation, and exploring new geographic markets. Upsher-Smith Laboratories Inc., a US-based pharmaceutical company, specializes in manufacturing morphine drugs.
Major companies operating in the morphine drugs market are Pfizer Inc., Sanofi S.A., Rusan Pharma Ltd., Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Sandoz AG, Viatris Inc., Dr. Reddy's Laboratories Ltd., Apotex Inc., Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Johnson Matthey Fine Chemicals, Fresenius Kabi USA LLC, Delpharm SaS, Alvogen Inc., Mallinckrodt Pharmaceuticals, Lannett Company, Mayne Pharma Group Limited, Noramco Inc., Tasmanian Alkaloids, Napp Pharmaceuticals Limited, Alcaliber SA
North America was the largest region in the morphine drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the morphine drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the morphine drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The morphine drugs market consists of sales of morphine sulfate, Roxanol oral solution, Kadian capsules, morphine injections, and Avinza capsules. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Morphine Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on morphine drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for morphine drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The morphine drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.