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Morphine Market: Segmented: by application (Pain Management, Cancer Pain, Neuropathic Pain, Osteoarthritis Pain, Other Pain Management, Diarrhea Suppressant, Cold and Cough Suppressant); by Routine (Oral, Injectables); , And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
Morphine Market to surpass USD 57 billion by 2031 from USD 28 billion in 2021 at a CAGR of 7.3% in the coming years, i.e., 2021-31.
Morphine is widely considered to be one of the most effective pain medications. In addition, it is widely acknowledged in most nations throughout the world for the treatment of severe or chronic pain linked with advanced medical diseases. The growing usage of morphine in pain management is propelling the morphine market forward, as the patient population grows.
The increased usage of morphine for pain relief is a major contributor to the market's expansion. Morphine is widely considered to be one of the most effective pain medications. Its use in the treatment of severe and chronic pain caused by a serious medical condition is also widely accepted in most parts of the world. Furthermore, the rising prevalence of orthopedic conditions such as elbow pain, arthritis, fibromyalgia, and osteoporosis is fueling the medical morphine market's growth.
Global Morphine Market is fragmented by application into Pain Management, Cancer Pain, Neuropathic Pain, Osteoarthritis Pain, Other Pain Management, Diarrhea Suppressant, Cold and Cough Suppressant. The pain management sector now leads the market and is projected to do so for the foreseeable future. Due to the dramatic increase in the number of patients suffering from chronic headaches, migraines, and backaches; patients recovering from surgery or experiencing severe pain associated with cancer; and individuals injured during sports activities, traffic collisions, or other incidents, this segment is expected to grow at a significant rate.
Global Morphine market is segmented by Routine into Oral, Injectables. Due to the increasing prescription and capability of morphine as a potent pain reliever among pharmacists around the world, the global market for oral tablets is predicted to rise rapidly.
Pain relief
The increased usage of morphine for pain relief is a major contributor to the market's expansion. Morphine is widely considered to be one of the most effective pain medications. Its use in the treatment of severe and chronic pain caused by a serious medical condition is also widely accepted in most parts of the world. Furthermore, the rising prevalence of orthopedic conditions such as elbow pain, arthritis, fibromyalgia, and osteoporosis is fueling the medical morphine market's growth.
Government’s growth initiative
Over the projection period, the government's growth objectives, as well as significant financing for research & development in advanced and sophisticated treatment options, are projected to generate possibilities for key market participants. As the patient pool widens, morphine's increasing use in pain management is fueling market expansion.
Irregular usage
Morphine addiction, which leads to drug misuse, is expected to stifle the market's growth. As a result of the restrictive regulatory environment, the market is anticipated to confront hurdles. Additional problems restricting market expansion over the medical morphine market projection include risks associated with morphine intake.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Morphine market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America accounted for XX percent of the market in 2021, and the region is expected to grow at a CAGR of XX percent over the next decade. North America, Europe, Asia Pacific, and the rest of the world are covered by the medical morphine market analysis division. The North Americas had the largest market share in 2021. Increased prevalence of arthritis and other inflammatory disorders, as well as a growing senior population, are likely to drive market expansion in the United States. Furthermore, factors such as increased government initiatives and investments in research and development in innovative medical treatment alternatives are likely to support the region's medical morphine market expansion.
Many large-scale firms and industries suffered as a result of the Covid-19 impact, with the exception of healthcare and life support items. Millions of small and large businesses have been affected by the lockdown and physical distancing rules. The unexpected emergence of the Covid-19 pandemic has raised questions about the severe prohibitions on the use of opiates like morphine.
The pandemic is known for its impact on the respiratory system, and it has the potential to exacerbate pain by worsening the disease. Morphine is well-known for its ability to alleviate pain. The United Kingdom's government does not allow it to be used. Due to a severe lack of medical devices and other important equipment in the country's healthcare system, it has emerged as the only solution in countries like Afghanistan.
Report Attribute |
Details |
Market size value in 2021 | USD 28 billion |
Revenue forecast in 2031 | USD 57 billion |
Growth Rate | CAGR of 7.3% from 2021 to 2031 |
Base year for estimation | 2020 |
Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered | Routine, Application, and Region |
Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Key companies profiled | Mallinckrodt Pharmaceuticals, Alcaliber S.A, Purdue Pharma L.P., Pfizer Inc., Johnson Matthey Fine Chemicals, Sun Pharmaceutical Industries Ltd., Verve Health Care Ltd., Taj Pharmaceuticals Limited, Northeast Pharm, Manus Aktteva Biopharma Llp, and Other Prominent Players |
The Morphine Market size was estimated at USD 28 billion in 2021 and is expected to reach USD 57 billion by 2031.
Key players: Mallinckrodt Pharmaceuticals, Alcaliber S.A, Purdue Pharma L.P., Pfizer Inc., Johnson Matthey Fine Chemicals, Sun Pharmaceutical Industries Ltd., Verve Health Care Ltd., Taj Pharmaceuticals Limited, Northeast Pharm, Manus Aktteva Biopharma Llp, and Other Prominent Players
Pain Management segment is anticipated to hold the largest Morphine Market.
Drivers: Pain relief and Government’s growth initiative
Morphine is widely considered to be one of the most effective pain medications. In addition, it is widely acknowledged in most nations throughout the world for the treatment of severe or chronic pain linked with advanced medical diseases.
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