Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

The global morphine market size is expected to cross USD 26.8 Billion by 2032 at a CAGR of ~6.50%.

The Morphine market stands as a crucial component of the pharmaceutical industry, playing a pivotal role in pain management. Among the various forms of morphine, medical morphine takes center stage, addressing the pressing need for effective analgesics in healthcare settings. This overview delves into the market dynamics, focusing on the significance of medical morphine and the broader landscape of drug morphine.

Medical morphine, derived from the opium poppy plant, holds a venerable position in the realm of pain relief. It is renowned for its potency and efficacy, making it a cornerstone in managing moderate to severe pain in diverse medical scenarios. The pharmaceutical industry heavily relies on medical morphine to formulate analgesic medications that cater to post-surgical recovery, cancer-related pain, and various chronic conditions.

The global morphine market is witnessing steady growth, driven by the rising prevalence of chronic diseases, aging populations, and an increased focus on improving healthcare infrastructure. The demand for medical morphine is particularly escalating due to its indispensable role in palliative care and the evolving understanding of pain management in various medical disciplines.

The term “drug morphine” encompasses a spectrum of formulations and delivery methods. From traditional oral tablets to advanced sustained-release formulations and injectable solutions, drug morphine caters to diverse patient needs. The market is witnessing innovations in drug delivery systems, ensuring optimal pain relief while minimizing side effects.

 As the pharmaceutical landscape evolves, understanding the interplay between medical morphine and the broader spectrum of drug morphine becomes imperative for healthcare professionals, researchers, and industry players.

Major Key Players:

The morphine Companies are Mallinckrodt Pharmaceuticals (Ireland), Alcaliber (Spain), Purdue Pharma (US), Sanofi Winthrop Industrie (France), Macfarlan Smith (UK), Sun Pharmaceutical Industries (India), Qinghai Pharmaceutical (China), Northeast Pharmaceutical Group (China), Pfizer Inc. (US), Verve Health Care Ltd. (India), Johnson Matthey Fine Chemicals (UK), MANUS AKTTEVA BIOPHARMA LLP (India), Mayne Pharma Group Limited (Australia), Daiichi Sankyo Inc. (Japan), Taj Pharmaceuticals Limited (India).

Segment Analysis

The global morphine market has been divided into dosage form, application, end user, and mode of distribution. The market has been divided into injectable, oral pills, and various dosage forms based on dosage form. Because of the increasing prescription and capability of morphine as strong pain medications around the world, the oral tablets market is predicted to increase rapidly in 2020.

The global morphine market has been divided into four categories based on application: pain management, diarrhea suppressor, cold and cough suppressant, and others. Pain management accounted for the largest segment share in 2020, owing to the rising prevalence of diseases associated with pain, an increase in the number of surgical procedures, an increase in healthcare expenditure, and the growing burden of the aging population around the world, all of which are expected to fuel the segment's growth.

The morphine market is divided into three categories based on the end user: hospitals and clinics, ambulatory surgical centers, and others. Because of the high number of orthopedic procedures and cancer treatments performed in hospitals, the availability of competent doctors, the high efficacy rate, and improved treatment infrastructure, hospitals and clinics held the biggest market share in 2020.

The global morphine market has been divided into hospital pharmacies, retail pharmacies, online pharmacies, and others based on distribution channels. Due to the necessity for a prescription for chemotherapy related pain and other types of chronic pain, hospital pharmacies held a significant market share in 2020, owing to the fact that the majority of hospitals have in-house pharmacies.

Recent Development:

Oct 2023 The multinational specialty pharmaceutical business Mallinckrodt plc reported that the U.S. Bankruptcy Court for the District of Delaware has accepted its Plan of Reorganization, putting the Company in a position to exit Chapter 11 before the year is out. Most of Mallinckrodt's financial stakeholders, including the holders of the Opioid Master Disbursement Trust II and almost 90% of its first and second lien debt, support the Company's plan of reorganization. As previously stated, on September 20, 2023, the board of Mallinckrodt began the examinership process in Ireland. It is anticipated that these procedures, which are necessary to allow for the emergence and implement certain components of the Company's financial restructuring under Irish law, will take two to three months to finish.

Jan 2023 An expanded medicinal cannabis offering by Linneo Health to include industrial derivatives has been announced. Linneo Health is an international leader in the research, cultivation, and supply of cannabis to progress human health and well-being. Alcaliber is a leading self-governing dealer of intermediates and active pharmaceutical ingredients (APIs) to the worldwide pharmaceutical industry. In addition to its current line of EU-GMP-certified medicinal cannabis flowers, Linneo Health can now deliver medicinal finished dosage forms, including tetrahydrocannabinol (THC) and standardized cannabis extracts, under the terms of an exclusive CDMO agreement with Alcaliber.

Regional Analysis

In 2020, North America had the biggest morphine market share. The presence of important players, the rising frequency of arthritis and other inflammatory conditions in the region, and developed healthcare infrastructure are all contributing to the market's growth. Additionally, favorable government initiatives, an increase in the number of research partnerships, and increased painkiller prescriptions are likely to support market expansion in this region.

Germany, France, the United Kingdom, Italy, Spain, and the rest of Europe make up the European morphine market. The frequency of diseases such as cancer, myocardial infarction, arthritis, and other inflammatory conditions is predicted to drive the morphine industry in Europe. Furthermore, the morphine industry is benefiting from the expanding elderly and sick population.

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. Furthermore, increased healthcare spending in the Asia Pacific area is propelling the morphine market forward.

The rest of the world's market has been divided into three sections: the Middle East, Africa, and Latin America. Due to the development of the healthcare business and the increasing availability of specialty care centers, the United Arab Emirates is the largest market in the Middle East. Latin American developing countries such as Brazil, Argentina, and Colombia, among others, are also important contributors to the market's expansion.

Browse Related Reports:

Vision Care Market

Organ-On-a-Chip Market

Botulinum Toxin Market

Artificial Intelligence in Drug Discovery Market

COVID Testing Kit Market

For More Information, Please Visit @ Market Research Future

Login

Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe