NEW YORK, United States, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Morphine Sulfate Market By Product Types (Superior Grade, General Grade), By Application (Oral Tablets, Injection, Capsule, Others) , and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Morphine Sulfate Market size & share in terms of revenue was valued at USD 2.3 Billion in 2021 and it is expected to surpass around USD 6.5 Billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 7.9%  during the forecast period 2022 to 2028.”

What is Morphine Sulfate? How big is the Morphine Sulfate Industry?

Report Overview:

Patients who are experiencing excruciating pain as a result of a disease or another problem can find respite from their suffering with the help of morphine sulphate, which is a medication that is used to treat severe pain. Morphine lessens the experience of pain by connecting to opioid receptors in the central nervous system. As a result, the morphine-induced reduction in the intensity of the pain makes it more bearable.

It is utilised in a variety of medicinal applications to alleviate patients' levels of discomfort and make the treatment of their conditions more tolerable. The usage of morphine sulphate can be either short-term or long-term, and it can be given in a variety of different ways, including through an IV drip, tablets, injections, and so on.

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Global Morphine Sulfate Market: Growth Factors

The rising prevalence of chronic pain-related disorders on a global scale has increased demand for pain management drugs and treatments and will majorly influence the Morphine sulfate market potential in the years to come. The increasing focus on healthcare will drive the Morphine sulfate market potential in multiple regions across the world. Morphine reduces pain by binding with opioid receptors that are present in the central nervous system of the patient. This is used to reduce pain in chronic diseases and help them make it bearable for suitable treatment opportunities.

The increasing geriatric population, rising prevalence of chronic diseases, increasing healthcare spending, rising focus on pain management, and increasing consumption of Morphine sulfate are major factors that drive the Morphine sulfate market growth over the forecast period. However, dependency and risk of substance abuse by Morphine sulfate are major factors that will hinder the Morphine sulfate market growth on a global scale.

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Morphine Sulfate Market: COVID-19 Impact Analysis

The sudden appearance of the COVID-19 pandemic caused significant shifts in the economy of the entire world and had a negative effect on virtually every other facet of global society as well. The pandemic that occurred in 2020 was also a contributing factor in the decline in the growth trend of the morphine sulphate market. During the pandemic in the year 2020, the shifting trends that were occurring in the healthcare industry presented obstacles to the use of morphine sulphate. In the post-pandemic era, it is anticipated that the market for morphine sulphate will expand at a consistent rate.

This is due to the increased emphasis placed on healthcare throughout the world, as well as the growing application of morphine sulphate in the treatment of multiple chronic pain-related diseases. In the years ahead, the demand for morphine sulphate will be further driven upwards by the growing importance of pain management in the treatment of chronic diseases.

Morphine Sulfate Market: Segmentation Analysis

In terms of application, the morphine sulfate market is further segmented into Oral Tablets, Injections, Capsule, and Others. Of these, the oral tablets segment is expected to have a dominant outlook and will see good growth in the coming years through 2028. The rising use of Morphine sulfate injections in order to provide faster relief will drive the demand in the injection segment as well. Increasing consumption of Morphine sulfate is expected to be driven by high demand for pain management but will be hampered by the risk of substance abuse and addiction.

The global Morphine Sulfate market is segmented as follows:

By Product types

By Application

Browse the full “Morphine Sulfate Market By Product Types (Superior Grade, General Grade), By Application (Oral Tablets, Injection, Capsule, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/morphine-sulfate-market

Competitive Landscape

The report contains qualitative and quantitative research on the global Morphine sulfate Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. 

Some of the main competitors dominating the global Morphine Sulfate market include - 

Key Insights from Primary Research:

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Regional Analysis:

The North American morphine sulfate market is expected to lead the global morphine sulfate industry and is anticipated to account for a major market share over the forecast period owing to the presence of developed healthcare infrastructure. The rising consumption of Morphine sulfate is expected to be driven by a rising aging population and increasing instances of chronic pain in multiple disorders and diseases.

The United States and Canada are projected to be the notable markets in this region owing to the rising focus on pain management in the medical industry. High demand for Morphine sulfate is expected to be seen in the Asia Pacific region owing to the rising focus on healthcare in this region. China and India are predicted to be lucrative markets for Morphine sulfate over the coming years.

By Region

Report Scope

Report Attribute Details
Market Size in 2021 USD 2.3 Billion
Projected Market Size in 2028 USD 6.5 Billion
CAGR Growth Rate 7.9% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Mallinckrodt Pharmaceuticals, Alcaliber, Purdue Pharma, Cepia-Sanofi, Macfarlan Smith, SUN PHARMA, Qinghai Pharmaceutical, Taj Pharmaceuticals, Northeast Pharm, and Others
Key Segment By Product Types, Application, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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