The morphine drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Morphine Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The morphine drugs market size has grown strongly in recent years. It will grow from $20.50 billion in 2023 to $21.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to rise in the number of cancer cases, rise in prevalence of orthopedic diseases, rise in number of surgical procedures, rise in the aging population, and a rise in healthcare expenditure.
The morphine drugs market size is expected to see strong growth in the next few years. It will grow to $28.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to an increase in cancer cases, increasing prevalence of pain conditions, growing awareness of palliative care, rising prevalence of chronic disorders, and increased use of opioids. Major trends in the forecast period include technological advancements in drug formulation, integration of digital health solutions, integration of technology, collaborations and partnerships, and implantable medical devices.
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Scope Of Morphine Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Morphine Drugs Market Overview
Market Drivers –
The increasing prevalence of chronic pain conditions is expected to propel the growth of the morphine drugs market going forward. Chronic pain is a complex condition characterized by persistent discomfort that lasts for an extended period, which serves as a warning signal of injury or illness. Chronic pain has grown into a serious health concern globally due to several interrelated variables, such as aging populations, rising obesity rates, sedentary lifestyles, stress and mental health difficulties, and environmental factors. Morphine is necessary to control chronic pain as it is highly effective in relieving pain and may be customized to meet the specific demands of each patient. It enhances life quality and enables those who suffer from chronic pain to achieve more without experiencing excruciating pain all the time. For instance, in May 2021, according to the Government of Canada, a Canada-based federal administration, up to 8.3 million Canadians may experience chronic pain by 2025, and it is expected to reach up to 9.0 million by 2030. Therefore, the increasing prevalence of chronic pain conditions is driving the growth of the morphine drug market.
Market Trends –
Major companies operating in morphine drug market are developing morphine sulfate injection to advance the offerings of medical treatment. Morphine sulfate injection is a powerful opioid analgesic used to manage severe pain. It is derived from opium and works by binding to the opioid receptors in the brain and spinal cord, altering the perception and emotional response to pain. For instance, Hospira, a US-based pharmaceutical and medical device company, added Morphine Sulfate Injection, which is an opioid agonist indicated for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate. The product is available in various strengths and formulations, including a preservative-free version for intravenous, epidural, or intrathecal use. The labeling information highlights the risks associated with Morphine Sulfate Injection, including addiction, abuse, and misuse, as well as serious and life-threatening risks from its use.
The morphine drugs market covered in this report is segmented –
1) By Dosage form: Injectable, Oral, Other Dosage Forms
2) By Distribution channels: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Applications: Pain Management, Palliative Care, Diarrhea Suppressant, Anesthesia, Cold And Cough Suppressant, Other Applications
4) By End Users: Hospitals And Clinics, Ambulatory Surgical Centers, Other End Users
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Regional Insights –
North America was the largest region in the morphine drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the morphine drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the morphine drugs market are Pfizer Inc., Sanofi S.A., Rusan Pharma Ltd., Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Sandoz AG, Viatris Inc., Dr. Reddy’s Laboratories Ltd., Apotex Inc., Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Johnson Matthey Fine Chemicals, Fresenius Kabi USA LLC, Delpharm SaS, Alvogen Inc., Mallinckrodt Pharmaceuticals, Lannett Company, Mayne Pharma Group Limited, Noramco Inc., Tasmanian Alkaloids, Napp Pharmaceuticals Limited, Alcaliber SA
Table of Contents
1. Executive Summary
2. Morphine Drugs Market Report Structure
3. Morphine Drugs Market Trends And Strategies
4. Morphine Drugs Market – Macro Economic Scenario
5. Morphine Drugs Market Size And Growth
…..
27. Morphine Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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