Consainsights logo

Morphine Market Size, Share, Industry Trends and Forecast to 2030

Morphine Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.

  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

What is the Market Size & CAGR of Morphine market in 2021?

The global morphine market size in 2021 was valued at USD 4.5 billion, with a compound annual growth rate (CAGR) of 3.8% from 2021 to 2027. This growth can be attributed to the increasing prevalence of chronic pain conditions, rising demand for pain management medications, and advancements in drug delivery technologies.

COVID-19 Impact on the Morphine Market

The COVID-19 pandemic had a significant impact on the morphine market. Due to lockdowns and restrictions imposed to curb the spread of the virus, there was a disruption in the supply chain of pharmaceutical products, including morphine. However, the demand for pain management medications like morphine saw an increase during the pandemic due to the rising number of cases and the need for managing associated pain symptoms.

Morphine Dynamics

Morphine is a powerful opioid analgesic that is used to treat moderate to severe pain. It works by binding to opioid receptors in the brain and spinal cord, reducing the perception of pain. Morphine is commonly prescribed for pain management following surgeries, cancer treatment, and other medical conditions that cause chronic pain.

Segments and Related Analysis

The morphine market can be segmented based on dosage form, application, distribution channel, and region. Dosage forms include tablets, injections, and syrups. Applications of morphine include pain management, anesthesia, and cough suppression. Distribution channels include hospitals, pharmacies, and online pharmacies.

By Region Analysis

The morphine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the high prevalence of chronic pain conditions, well-established healthcare infrastructure, and increasing awareness about pain management. Europe follows closely, with a growing geriatric population and rising demand for opioid analgesics.

Key Market Players and Competitive Landscape

Key players in the morphine market include Purdue Pharma, Mallinckrodt Pharmaceuticals, Alkaloida Chemical Company, Macfarlan Smith, and Johnson Matthey. These companies focus on expanding their product portfolios, investing in R&D for novel drug formulations, and strategic collaborations to gain a competitive edge in the market.

Recent happenings in the Morphine Market

In recent years, the morphine market has witnessed several developments, such as the introduction of extended-release formulations for prolonged pain relief, the adoption of abuse-deterrent technologies to prevent misuse, and the increasing use of morphine in palliative care settings. These advancements are aimed at improving patient outcomes and addressing the evolving needs of healthcare providers.

Morphine Market FAQs