The global morphine market is predicted to grow in response to an increase in the cancer incidence rate. The rising occurrence of orthopedic diseases such as arthritis, fibromyalgia, elbow pain, and osteoporosis are driving the morphine market growth. As per MRFR, the global market is predicted to gain an income base of USD 33,650 million at a CAGR of ~7.8% by 2027.
Governments in numerous emerging countries are projected to legalize potent opioids for medical use at an increasing rate, resulting in huge prospects. Furthermore, the demand is driven by the expanding geriatric population and the usage of morphine for pain management.
Detailed Regional Analysis
The regional assessment of the Morphine Market is conducted based on North America, Europe, Asia-Pacific, and other notable regions. In the forecast period, North America had the biggest morphine market share. The existence of significant companies, the rising frequency of arthritis and other inflammatory conditions in the region, and developed healthcare infrastructure contribute to the morphine market’s rise. The morphine market in Asia-Pacific is expected to develop at the fastest rate. The primary drivers for market expansion include the increased frequency of chronic diseases such as cardiovascular problems, the growing patient population, and novel treatment approaches.
Industry Updates:
Nov 2021 Regulonix Compound 194 is a potential breakthrough analgesic discovered by Regulonix. Compound 194 has the potential to be a game-changer because it can be mixed with low doses of morphine, effectively removing the opioid’s addictive properties while maintaining its capacity to treat pain. When taken with a modest, non-addictive dose of synthetic opioids, it was found to be just as efficient at treating pain as medications like Percocet, Demerol, Tramadol, Morphine, and Oxycontin, among others but without the adverse effects and addictive properties.
Segmental Analysis
The segmental evaluation of the Morphine Industries is conducted based on dosage form, application, end user, distribution channel, and region. The morphine market is divided into three categories based on the end user: hospitals and clinics, ambulatory surgical centers, and others. The market has been divided into injectable, oral pills, and various dosage forms based on the dosage form. The global morphine market has been divided into four categories based on application: pain management, diarrhea suppressor, cold and cough suppressant, and others. The global morphine market has been divided into hospital, retail, online, and others based on distribution channels.
Competitive Analysis
The focus on transformation is forecast to expand in the following years, as user expectations must be addressed more effectively to recover the global market. In the subsequent years, the requirement to ameliorate losses incurred by the current public health crisis is projected to be the exclusive focus of market applications. The need to establish a quick and profitable management strategy is predicted to impact the market in the near future. The market’s conflict between demand and supply is investigated to generate a measured development framework. In the coming future, competitors’ potential to stimulate market transformation will proceed to grow at a steady rate. Since the market requires an additional drive to achieve consistency in such a situation, cooperation from administrative authorities and governments is increasing. In particular, there will be a need to provide a helping hand to enterprises in the approaching phase.
The formidable companies in the morphine market are Alcaliber (Spain), Purdue Pharma (US), Verve Health Care Ltd. (India), Macfarlan Smith (UK), Qinghai Pharmaceutical (China), Northeast Pharmaceutical Group (China), Sun Pharmaceutical Industries (India), Pfizer Inc. (US), Johnson Matthey Fine Chemicals (UK), MANUS AKTTEVA BIOPHARMA LLP (India), Mallinckrodt Pharmaceuticals (Ireland), Mayne Pharma Group Limited (Australia), Sanofi Winthrop Industrie (France), Daiichi Sankyo Inc. (Japan), Taj Pharmaceuticals Limited (India).
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