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Global Morphine Market Size, Growth, Trends and Global Segments Analysis Report to 2030

13 Oct | By Aakash Choudhary

The global morphine marketis estimated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of mode of administration into injection, oral, and others, out of which, the injection segment is estimated to gain a substantial share in the market, during the forecast period, owing to the ease of intravenous dosage, and faster relief as compared to oral administration. Based on application, the pain management segment is foreseen to gain notable share over the forecast period, on the back of effective pain reducing properties of medical morphine.

The global morphine market is anticipated to grow on the back of increasing application of morphine in the healthcare sector as a painkiller, for the patients suffering with joint pain. The rising prevalence of musculoskeletal diseases, is expected to boost the market growth. According to the data by the World Health Organization (WHO), in 2021, around 1.71 billion people underwent some musculoskeletal disease globally. Furthermore, growing geriatric population worldwide, is estimated to raise the incidences of diseases causing muscle and joint pain. Such factors are estimated to boost the market growth. As per the data by the World Bank, 9.318% of the total population aged 65 years and above in 2020 globally.


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 the North America region is anticipated to gain the largest market share throughout the forecast period, on the back of the increasing geriatric population in countries, such as, United States and Canada, along with rising patient pool of arthritis and osteoporosis.According to the data by the World Bank, 16.631% of the population in the U.S. aged 65 years and above.


The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.


Increasing Application of Morphine in Healthcare Sector to Boost the Market Growth

Morphine is intensively used in the medical field as a pain killer for ongoing orthopedic treatments. Growing application of medical morphine is estimated to rise the demand for the drug, which is estimated to boost the market growth.Moreover, rising cases of diseases, such as, arthritis and osteoporosis, is projected to fuel the market growth.


Download/Request Sample Copy of Strategic Report:  https://www.researchnester.com/sample-request-3602


However, increasing abuse of morphine is expected to operate as key restraint to the growth of the global morphine market over the forecast period.


This report also provides the existing competitive scenario of some of the key players of the global morphine market which includes company profiling of Mayne Pharma Group, Daiichi Sankyo Company Limited, Hikma Pharmaceuticals USA, AbbVie Inc., Mylan N.V., Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, AstraZeneca plc, Alcaliber S.A, and Verve Health Care Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global morphine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

 


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