New York, United States , June 20, 2024 (GLOBE NEWSWIRE) -- The Global Morphine Market Size is to Grow from USD 22.46 Billion in 2023 to USD 34.87 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.50% during the projected period.
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Morphine is a potent prescription opioid painkiller that is derived from the opium poppy plant. It is a strong opiate resin with a dark brown colour. Overconsumption of this substance leads to negative effects and drug addiction. Morphine is used in trace levels in several medications used in the healthcare sector. This drug can also be utilized following surgery since it helps relieve pain coming from the central nervous system. Additionally, cancer is treated with it. The main active ingredient in medications categorized as "morphine drugs" is morphine. The market is expanding due to the rising demand for potent analgesics like morphine brought on by the increasing prevalence of chronic pain issues. This medication is primarily intended to relieve severe discomfort. As a result, it is also being used on patients to lessen their post-operative agony. Treatment for complicated illnesses like cancer also involves its use. However, a different aspect impeding the market's growth could involve the introduction of new generic drugs that ultimately replace this medication as a painkiller. These problems give rise to a decline in the market dynamics.
Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the “Global Morphine Market Size, Share, and COVID-19 Impact Analysis, By Type (Oral Tablets, Injection, and Capsule), By Application (Anesthesia, Cough Suppressant, Diarrhea Suppressant, and Others), By End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The oral tablets segment is anticipated to hold the greatest share of the global morphine market during the projected timeframe.
On the basis of type, the global morphine market is divided into oral tablets, injections, and capsules. Among these, the oral tablets segment is anticipated to hold the greatest share of the global morphine market during the projected timeframe. Oral tablets provide a useful and non-invasive method of treating pain, allowing patients to take the medication as prescribed. In addition, the controlled-release formula of oral tablets provides longer-lasting pain relief, enhancing patient comfort and compliance.
The anesthesia segment is anticipated to grow at the fastest pace in the global morphine market during the projected timeframe.
On the basis of application, the global morphine market is divided into anesthesia, cough suppressant, diarrhea suppressant, and others. Among these, the anesthesia segment is anticipated to grow at the fastest pace in the global morphine market during the projected timeframe. In surgical treatments, anesthesia is essential since it ensures the patient's comfort and pain management during the procedure. Morphine is the medication of choice for anaesthesiologists to relieve pain and calm surgical patients due to its potent analgesic properties.
The hospitals & clinics segment is predicted to grow at the highest pace in the morphine market during the estimated period.
On the basis of end user, the global morphine market is divided into hospitals & clinics, ambulatory surgical centers, and others. Among these, the hospitals & clinics segment is predicted to grow at the highest pace in the morphine market during the estimated period. In hospitals and clinics, morphine is widely used, mostly to help patients who are having surgery, have severe injuries, or have life-threatening illnesses manage their pain.
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North America is expected to hold the largest share of the global morphine market over the forecast period.
North America is expected to hold the largest share of the global morphine market over the forecast period. In addition, the region has a significant risk of developing chronic pain conditions that are the use of potent analgesics like morphine, such as musculoskeletal disorders and cancer-related pain. North America leads the world in the morphine market due in part to the presence of significant market players, supportive government regulations, and growing awareness of pain management. The United States has the largest interest in this region because to its advanced healthcare system, large patient population, and supporting healthcare policies.
Asia Pacific is predicted to grow at the fastest pace in the global morphine market during the projected timeframe. The region's growing need for morphine is also driven by rising healthcare costs, developing healthcare infrastructure, and the expansion of healthcare facilities in countries like China and India. Patients require more options for pain management due to the region's large and growing population.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global morphine market include Fresenius Kabi USA, Pacira BioSciences, Inc., Endo Pharmaceuticals Inc, Tris Pharma, Inc., Mundi pharma, Purdue Pharma L.P, Taj Pharmaceuticals Limited, Mallinckrodt Pharmaceuticals, Alcaliber S.A, Johnson Matthey, Northeast Pharmaceutical Group Co., Ltd, Sun Pharmaceutical Industries Ltd, Teva Pharmaceutical Industries Ltd, Bard Pharmaand and others.
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Recent Developments
- In May 2023, Qinhai Zhiyao Pharmaceutical announced the launch of its new morphine sulfate injection in China. The injection is designed to provide rapid pain relief, and it is available in strengths of 10, 20, and 40 milligrams per milliliter.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global morphine market based on the below-mentioned segments:
Global Morphine Market, By Type
- Oral Tablets
- Injection
- Capsule
Global Morphine Market, By Application
- Anesthesia
- Cough Suppressant
- Diarrhea Suppressant
- Others
Global Morphine Market, By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Global Morphine Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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