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