Morphine Market Size, Share, Growth and Industry Analysis by Type (Oral Tablets, Injection, And, Capsule), By Application (Anesthesia, Cough Suppressant, and Diarrhea Suppressant), Regional Insights, and Forecast From 2024 To 2031

Updated On: 10 June 2024

Morphine Market Report Overview

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The global morphine market size was USD 26045.07 million in 2021 and is projected to touch USD 53944.94 million by 2031 with a CAGR of 7.55% during the forecast period.

Morphine is a drug that is derived from opium. It is a strong opiate, and is a dark brown resin. This substance can be used as medication. When an overdose of this substance is taken, it can lead to side effects, and addiction. Morphine is used in small quantities in various medications in the healthcare sector.

Recently a lot of people are suffering from inflammatory diseases. Arthritis, elbow, and knee pain have become very common in people. Morphine is being used as an effective pain killer to treat these ailments. This is considered as the latest trend in the market.

This medication can also be used post-surgery as it is very helpful in removing the pain from the central nervous system. Additionally, it is also used to treat cancer. All of these factors have played an important role in increasing the morphine market share.

COVID-19 impact: Growth of Healthcare Sector During Pandemic Increased Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The pandemic of COVID-19 was the primary reason for the downfall of several markets. Unavailability of labor, raw materials, and lockdowns were the major cause of disruption in the working of certain industries. Despite the COVID conditions some industries managed to survive and grow.

Life support products and the healthcare sector saw tremendous growth and demand during the pandemic period. Many people suffered from infections, respiratory diseases, and COVID conditions during pandemic. Therefore, it became highly necessary for people to approach the medical industry to cure their diseases. Morphine is a substance that is frequently used in the medical market. With the growth of the healthcare industry, the morphine market also developed during the pandemic.

LATEST TRENDS

"Effective Pain-Relieving Features of This Drug to Increase Market Growth"

Morphine is considered to be one among the most effective pain killers compared to other drugs. When a patient is administered with this drug, it starts to relieve the pain immediately. Because of this feature it is used in the preparation of several pain killer tablets.

Apart from being used as a primary substance in most of the pain killing medicines, it is also used to treat and cure chronic pain which is usually seen under highly complex and advanced medical conditions. Effective pain-relieving feature of this drug is prone to help in the morphine market growth.

Morphine Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

Oral tablets, injection, and, capsule. The oral tablets segment is projected to hold the dominant market share through 2028 the forecasting period.

• By Application:

The market can be divided on the basis of application into the following segments:

Anesthesia, cough suppressant, and, diarrhea suppressant. Anesthesia segment is predicted to dominate the market through 2028.

DRIVING FACTORS

"Increasing Cases of Orthopedic Ailments to Amplify Market Growth"

From the past few decades several people are being diagnosed with severe orthopedic ailments. The changing lifestyle, and lack of exercise can be the main reason for such ailments. Arthritis, fibromyalgia, elbow pain, knee pain, and osteoporosis are some of the most commonly seen orthopedic diseases among people.

Such ailments are more prevalent in the middle-aged and old-aged people. Morphine is widely regarded as a reliable medication for such orthopedic diseases. As it has the ability to effectively relieve the pain, doctors prescribe using this drug to their patients. This can be considered as one of the main factors driving the market growth and development.

"Usage of Morphine Post Surgery to Drive Market Growth"

The main use of this drug is to quickly relieve pain. Therefore, it is also being adopted to be administered to patients post their surgery to reduce the level of pain. It is also used for treating complex medical conditions like cancer.

Several technological advancements have taken place in the health sector and this has increased the awareness among people about taking the right treatment. Morphine which is narcotic analgesic has the power to ease the pain in the central nervous system because of which it is used after the surgeries. This factor has contributed in the growth of the market share.

RESTRAINING FACTOR

"Sedative and Addictive Nature of This Substance to Deteriorate Market Growth"

Rather than being known as a good medication, morphine is well-known as a drug. This is mainly due to its sedative and addictive nature. An overdose of the drug can result in addiction. Once a person gets addicted to using this, it will be very difficult to break the addiction.

Morphine has the potential to be used for drug abuse as it is euphoric in nature. Another factor that can hamper the market growth is the introduction of new kind of generic medicines that can replace this drug as a pain killer. All of these factors can deteriorate the market dynamics.

Morphine Market Regional Insights

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"North America to Dominate Market in Upcoming Years "

North America is considered to be the leading share holder of the market during the research period. This is due to the growing cases of orthopedic ailments and other inflammatory diseases. People suffering from such conditions take pain killers that contain some amount of morphine in it.

Several countries release large amount of funds for conducting researches and studies in the medical and healthcare sector. Similarly, fundings are being made into this market as well to study the additional uses of this drug. These factors have led to the development of market in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profile

• Cepia-Sanofi (France)
• Mallinckrodt Pharmaceuticals (U.S.)
• Purdue Pharma (U.S.)
• Alcaliber (Spain)
• SUN PHARMA (India)
• Qinghai Pharmaceutical (China)
• Macfarlan Smith (Scotland)
• Taj Pharmaceuticals (India)
• Northeast Pharm (India)

Report Coverage

The report provides an insight into industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also lists the key industry players to understand the competition.