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HEALTHCARE & PHARMACEUTICAL

Morphine Market Segmentation by Application (Pain Management, Diarrhea Suppressant, and Others); and by Mode of Administration (Injection, Oral, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Morphine Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • March, 2020: Pfizer Inc. received U.S. FDA approval for tanezumab, a potential treatment for chronic pain due to moderate to severe osteoarthritis.

  • July, 2019: Mylan N.V. and Upjohn, a subdivision of Pfizer Inc. collectively established a new pharmaceutical company, Vitaris Inc.

 

Global Morphine Market Highlights over 2022 – 2030

The global morphine market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to increasing applications of morphine in healthcare sector, as morphine acts as an effective pain killer. The growing prevalence of musculoskeletal diseases, osteoporosis, arthritis, gout, and others, is estimated to boost the market growth. According to the data by the World Health Organization (WHO), 1.71 billion individuals suffer from musculoskeletal diseases, as of 2021.

Morphine Market GraphMedical morphine is extensively used to relieve the joint and muscle pain, which is estimated to boost the market growth. Furthermore, the growing geriatric population worldwide is estimated to boost the market growth. According to the data by the World Bank, 9.318% of the global population was aged 65 years and older in 2020, up from 8.87% in 2018. Moreover, advancement in healthcare facilities, and R&D activities for development of novel drugs are anticipated to fuel the market growth.

Population Aged 65 Graph

The market is segmented by application into pain management, diarrhea suppressant, and others, out of which, the pain management segment is anticipated to hold the notable share in the global morphine market over the forecast period as morphine is very effective in easing pain. Moreover, various advantages of morphine, such as pain reduction in cancer treatment, is estimated to boost the market growth.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Morphine Market Regional Synopsis

On the basis of geographical analysis, the global morphine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing geriatric population in countries, such as, China, and India. As per the data by the World Bank, in China, 11.968% population aged above 65 years in 2020. Moreover, growing investment in the healthcare sector is expected to boost the market growth in the region.

Population Aged 65 years GraphThe market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing patient pool of arthritis and osteoporosis. According to the statistics of the Center of Disease Control and Prevention, 4.2% men and 18.8% women over the age of 50 years suffered from osteoporosis of the femur neck or lumbar spine.  Moreover, high share of geriatric population in countries, such as, United States and Canada, is estimated to boost the regional market growth.

Morphine Market Share Graph

The global morphine market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global morphine market includes the following segments:

By Application

  • Pain Management
  • Diarrhea Suppressant 
  • Others

By Mode of Administration

  • Injection
  • Oral
  • Others

Growth Drivers

  • Growing Prevalence of Musculoskeletal Diseases
  • Increasing Adoption of Morphine as a Painkiller

Challenges

  • Rising Concern for the Misuse of Morphine

Top Featured Companies Dominating the Market

  • Verve Health Care Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Mayne Pharma Group
  • Daiichi Sankyo Company Limited
  • Hikma Pharmaceuticals USA
  • AbbVie Inc.
  • Mylan N.V.
  • Sun Pharmaceutical Industries Ltd.
  • Alcaliber S.A.
  • Mallinckrodt Pharmaceuticals
  • AstraZeneca plc

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