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Morphine Drugs Market Trends

Report ID: GMI9319 Published Date: May 2024Report Format: PDF
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Morphine Drugs Market Trends

The morphine drugs industry is experiencing several notable trends that are shaping its growth and development. Factors such as rise in adoption of extended-release formulations, increasing focus on personalized pain management drugs, and growing research into alternative pain management therapies, among other factors are propelling the industry growth.

  • With growing concerns about opioid abuse and addiction, pharmaceutical companies are developing abuse-deterrent formulations of morphine drugs. These formulations are designed to make it more difficult to crush, dissolve, or inject the medication, thereby reducing the likelihood of misuse. The market is witnessing a shift towards these formulations as healthcare providers and regulators seek ways to mitigate the risk of opioid abuse while ensuring access to pain management.
  • Further, there is a growing recognition that pain is a complex and multifaceted experience that varies between individuals. Healthcare providers are increasingly adopting a personalized approach to pain management, tailoring treatment regimens to each patient's unique needs and preferences. This trend is driving demand for customizable morphine formulations, dosage strengths, and delivery methods, as well as for complementary therapies such as physical therapy, cognitive-behavioral therapy, and integrative medicine, thereby aforementioned factors are expected to drive the market.
Author: Mariam Faizullabhoy, Gauri Wani
Frequently Asked Question(FAQ) :

How big is the North America morphine drugs industry?+

North America market accounted for USD 8.6 billion in 2023 and is anticipated to grow at 6.2% CAGR between 2024 and 2032, driven by the chronic pain conditions, such as arthritis, back pain, and neuropathic pain.

Why is the demand for injectable morphine drugs growing?+

The injectable segment generated USD 16.9 billion in 2023, owing to the increasing number of surgical procedures worldwide.

What is the size of morphine drugs market?+

The market size of morphine drugs reached USD 23.4 billion in 2023 and is set to witness 6.5% CAGR from 2024 to 2032, attributed to the ongoing advancements in drug delivery systems, increasing prevalence of chronic pain and rising geriatric population.

Mention the key players involved in morphine drugs market?+

Alcaliber S.A., Daiichi Sankyo Company Limited, Hikma Pharmaceuticals PLC, Mallinckrodt plc, Pfizer Inc., Purdue Pharma L.P., Sandoz AG, Taj Pharmaceuticals Limited, Verve Health Care Ltd. and Viatris Inc.

Morphine Drugs Market Scope

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