Morphine, Buprenorphine, and Other Drugs Market, by Drug (Morphine, Buprenorphine, Noscapine, Thebaine, and Etrophine), by Application (Pain Management, Opioid Addiction Treatment, and Others), by Route Of Administration (Injectable, Oral, and Transdermal), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 7,728.9 Mn in 2021 and is expected to exhibit a CAGR of 5.2% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Rising authorization of drugs for opioid addiction treatment is expected to propel growth of the morphine, buprenorphine, and other drugs market over the forecast period. For instance, in February 2019, Sandoz (Novartis division) announced marketing authorization for the generic SUBOXONE 1 which is combination of naloxone and buprenorphine, to be available in different dosage strengths in the U.S. The drug is indicated for the treatment of opioid dependence. Hence, such complete treatment plans of buprenorphine and naloxone sublingual film are propelling the market growth.
Global Morphine, Buprenorphine, and Other Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
Since the outbreak of COVID-19 virus in December 2019, over 100 countries across the world had been affected and the World Health Organization had announced it as a public health emergency. According to Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the WHO, over 197 million cases and 4.2 million deaths due to Coronavirus (COVID-19) were reported up August 03, 2021, across the globe.
COVID-19 has affected economy in following ways; firstly by affecting production and demand, then by creating disturbance in distribution channels, and lastly through the financial impact on financial markets and firms. Due to lockdowns across the globe, several countries such as India, China, Saudi Arabia, Egypt, UAE, and others are facing problems with regards to transportation of opioid drugs.
Moreover, cancer patients are not able to visit hospitals for the administration of opioid treatment due to lockdowns and COVID-19 restrictions which is further restricting the market growth. Hence, morphine, buprenorphine, and other drugs market is adversely affected due to COVID-19 pandemic.
Browse 30 Market Data Tables and 36 Figures spread through 358 Pages and in-depth TOC on “Global Morphine, Buprenorphine, and Other Drugs Market” Forecast 2028 - by Drug (Morphine, Buprenorphine, Noscapine, Thebaine, and Etrophine), by Application (Pain Management, Opioid Addiction Treatment, and Others), by Route Of Administration (Injectable, Oral, and Transdermal), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Morphine, Buprenorphine, and Other Drugs Market, click the link below:
Furthermore, the development and launch of opioid drugs is expected to aid in the growth of the global morphine, buprenorphine, and other drugs market. For instance, in March 2019, Piramal Critical Care launched the Morphine Sulfate injection in the U.S. with trademark of Mitigo used for intractable chronic pain treatment. Morphine Sulfate injection is used for treating moderate to severe pain. It is majorly used for pain associated with surgery, myocardial infraction, and cancer. Hence, such launch of new products is expected to boast the morphine, buprenorphine, and other drugs market.
Key Takeaways of the Morphine, Buprenorphine, and Other Drugs Market:
- Morphine, buprenorphine, and other drugs market is expected to exhibit a CAGR of 5.2% during the forecast period owing to the rising research and development activities by academic institutes. For instance, in April 2018, Stanford University Bioengineers, developed a new anticancer medicine and cough suppressant medicine noscapine by a new method for production based on fermentation of enzymes obtained from mammals, medicinal plants and microorganisms to make the drug. These type of new natural techniques for the production of this medicine are necessary as recently opium poppy is the only feasible source but is limited due to expensive controls and regulations. Thus new types of techniques for opioid drug production are expected to propel the market growth.
- Among drug, buprenorphine segment is expected to have highest CAGR for the morphine, buprenorphine, and other drugs market during forecast period, owing to research and development and use of buprenorphine along with other drugs for opioid addiction treatment. For instance, WHO has recommend range of treatment options to the patients for opioid dependence. These include opioid (with medicines such as buprenorphine and methadone) for agonist maintenance treatment, pharmacological treatment with antagonist opioids (such as naltrexone). WHO supports countries in improving the quality and coverage of programmes for treatment for opioid dependence and introducing them where they do not already exist due to which morphine, buprenorphine and other drugs market is expected to grow rapidly.
- On the basis of application, pain management segment is expected to exhibit highest CAGR owing to use of opioids for cancer pain, myocardial infraction surgery, and other postsurgical pain and chronic pain management.
- On the basis of route of administration, oral segment accounted for highest market share owing to convenience of use of the patients. Oral opioids are commonly prescribed for cough and diarrhea. Further opioids are also used for pain management and cancer treatment and thus owing to highest market share in morphine, buprenorphine, and other drugs market.
- On the basis of distribution channel, hospital pharmacies segment is estimated to hold a dominant position in the morphine, buprenorphine, and other drugs market over the forecast period. Moreover, the rise in hospital admission of patients suffering from chronic pain and cancer is expected to favor growth of the hospital pharmacies segment over the forecast period.
- Among the regions, North America region accounted for the largest market share in morphine, buprenorphine, and other drugs market in 2021. Recently opioids such as buprenorphine are largely used in the U.S. for opioid use disorder treatment, thus morphine, buprenorphine, and other drugs market has accounted for largest market share.
- Major players operating in the morphine, buprenorphine, and other drugs market include Purdue Pharma, Sun Pharmaceuticals, Pfizer Inc, West Ward Pharmaceuticals, Teva Pharmaceuticals, Piramal Pharmaceuticals, Hikama Pharmaceuticals, Indivior PLC, Oreoxo AB, Camurus AB, and Novartis.
