MORPHINE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Morphine Market Analysis:

The morphine market under investigation has been forecasted to exhibit a Compound Annual Growth Rate (CAGR) of approximately 7.5% during the period of projection, spanning from 2022 to 2027.

In recent times, nations have been confronted with a significant threat posed by the COVID-19 pandemic. According to the World Health Organization (WHO), the coronavirus disease is an infectious ailment, with most individuals infected with the COVID-19 virus experiencing mild to moderate respiratory symptoms. The COVID-19 pandemic has had a profound impact on chronic pain management, leaving numerous patients overwhelmed by their chronic pain and experiencing delays in their ongoing treatments. For instance, a research article titled “COVID-19 And Its Impact on Pain Management Practices: A Nation-Wide Survey of Indian Pain Physicians” by Rajendra K Sahoo et al., published in the Indian Journal of Anesthesia in December 2020, revealed that 63.16% of pain physicians harbored concerns about spreading or contracting the disease to patients’ family members, 26.79% experienced impaired sleep, 1.43% of physicians reported feeling depressed, and 8.14% experienced feelings of anxiety. However, the demand for pain medications, such as opioid drugs including morphine, significantly increased during the pandemic. According to a study titled “The Effect of SARS-CoV-2 On The Prescribing Of Antimicrobials And Analgesics By NHS General Dental Practitioners In England”, published in January 2021, the demand for opioid drugs during April 2020 was approximately 28,563, while in April 2019, it was 15,507, representing an increase of approximately 84%. Nevertheless, temporary disruptions in the manufacturing plants resulted in supply chain disruptions. Consequently, COVID-19 had a significant impact on the growth of the market under investigation.

The primary factor contributing to the growth of the market is the increasing prevalence of orthopedic diseases and chronic pain, the expansion of palliative care facilities, and the rise in the utilization of morphine for pain management.

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