Market Trends of Morphine Industry
Pain Management Segment is Dominating the Morphine Market
Morphine is used to relieve moderate to severe pain. Morphine extended-release tablets and capsules are only used to relieve severe pain that cannot be controlled by the use of other pain medications. Opioids play a vital role in acute post-operative settings to provide adequate analgesia. The rising prevalence of chronic diseases such as arthritis, cancer, and other diseases is expected to increase the demand for morphine solutions for relieving pain. This will drive the pain management segment's growth in the studied market during the study period.
According to an article published by PubMed Central in September 2022, osteoarthritis is a significant cause of disability. It is the most common type of arthritis, affecting almost 10% of the global population aged 60 years and older. Additionally, according to the data published by the Arthritis Society of Canada in September 2021, more than 4 million Canadians were diagnosed with osteoarthritis and about 1 in 7 Canadian adults live with the impact of osteoarthritis. This may cause pain, aching, stiffness, and swelling around the joints. People might find it difficult to walk. Hence, there is an increased demand for morphine as a pain reliever. This will also positively contribute to segment growth.
Furthermore, morphine is the most commonly used opioid for severe cancer-related pain. and hence an increase in cancer cases is expected to drive segment growth. As per the American Cancer Society Report published in January 2023, it is estimated that over 1.98 million people will be affected by cancer during the year 2023.
Thus, owing to the above-mentioned factors, the studied segment is expected to boost segment growth during the study period.
North America Holds Significant Share in the Market and Expected to Grow in Forecast Period
North America is expected to witness growth in the morphine market during the forecast period. The market's growth is due to factors such as the presence of key players, the high prevalence of chronic diseases in the region, and established healthcare infrastructure, which is some of the key factors responsible for its large share of the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the factors driving the market growth. In this region, the United States has the largest share due to supportive healthcare policies, a high number of patients, and a developed healthcare market.
As per the Centers for Disease Control and Prevention's October 2021 estimates, about 1 in 4 United States adults (23.7%), or about 58.5 million people, have doctor-diagnosed arthritis, and this is expected to reach 78 million by 2045. Opioid therapy, such as morphine, is the mainstay of orthopedic treatment for patients with moderate to severe pain, and this helps drive the overall growth of the market.
According to the article published in Science Daily Journal in August 2021, chronic pain is among the most common chronic conditions in the United States. Approximately 50.2 million (20.5 percent) of adult United States citizens experience chronic pain. The estimated total value of lost productivity due to chronic pain is nearly USD 300 billion annually. Further, as per the data published by the Government of Canada, in 2021, the overall number of people who experience chronic pain would rise by 17.5% between 2019 and 2030, and by 2025 there might be 8.3 million Canadians suffering from chronic pain, and by 2030 there could be 9.0 million. Therefore, the rising burden of chronic pain in the country and the burden on the healthcare infrastructure are expected to drive the studied market in the region during the study period.
Therefore, along with the above-mentioned factors, the awareness initiatives for chronic pain management will boost the demand for morphine in the region during the study period.
