MORPHINE, BUPRENORPHINE, AND OTHER DRUGS MARKET ANALYSIS

Morphine, buprenorphine, and other similar drugs fall under category of opioid drugs. Opioids are obtained from the poppy seed and also from synthetic and semisynthetic compounds with similar properties which interact with opioid receptors present in the brain. Some prescription opioids are made from the plant directly, and others are made by scientists in labs using the same chemical structure. Opioids have sedative & analgesic effects, and are commonly used for the pain management. In addition, opioids such as buprenorphine are used for maintenance treatment of opioid dependence. Morphine, buprenorphine, and other similar drugs are also used in traumatic, visceral, ischaemic pain, cancer and postoperative pain management. However, the global morphine, buprenorphine, and other drugs market is mainly hampered by the rising number of lawsuits against opioids drug and overdose of opioids which may lead to death.

The global morphine, buprenorphine, and other drugs market is estimated to be valued at US$ 7,728.9 million in 2021 and is expected to exhibit a CAGR of 5.2% during the forecast period (2021-2028).

Figure 1. Morphine, Buprenorphine, and Other Drugs Market Share (%), By Drug, 2021

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Increasing prevalence of cancer is expected to drive the market growth during the forecast period.

The major driving force behind the growth of this market is the increasing prevalence of cancer. For instance, according to National Cancer Institute (NHI), the rate of new cases of cancer in the U.S. was 442.4 per 100,000 men and women per year (based on 2013–2017 cases). In addition, in 2020, it was estimated to be 1,806,590 new cases of cancer incidence diagnosis in the U.S. and 606,520 people would die from the disease. Several opioid drugs such as opioids are recommended for the management of moderate to severe pain in cancer patients. The American Cancer Society states that opioids play a critical role in relieving pain due to this disease and curing cancer patients. Hence, with the increasing prevalence of cancer globally, the demand for prescription opioid drugs is also expected to rise during the forecast period.

Figure 2. Global Morphine, Buprenorphine, and Other Drugs Market Value (US$ Mn), By Distribution Channel, 2021

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Increase in the use of buprenorphine to treat opioid use disorder (OUD) and opioid addiction treatment are expected to drive the market growth during the forecast period.

Buprenorphine is been recently used for treating opioid use disorder and opioid addiction treatment. International healthcare organizations are granting marketing approvals for such drugs. For instance, in 2019, European Medicines Agency’s (EMA’s) human medicine committee has recommended marketing authorization grant in European Union for a new product Sixmo which contains buprenorphine and is used to treat opioid dependence. Sixmo is basically an implant which releases buprenorphine in low and precisely required amounts for six months. Hence development of new products and their authorization is expected to boost the morphine, buprenorphine, and other drugs market.  

Morphine, Buprenorphine, and Other Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

The outbreak of COVID-19 that started from Wuhan, China has spread across the globe, which has affected various industries globally. 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 till August 2021, across the globe.

Supply of raw materials has been severely hampered due to the forced lockdowns, and lack of labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully.

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 drugs. Thus due to COVID-19 restrictions opioid production has been hampered and various companies such as Johnson & Johnson, CVS, Walgreens, and McKesson are affected.

Moreover, cancer patients are not able to visit hospitals for the administration of opioid treatment due to lockdowns and COVID-19 restrictions. Hence, morphine, buprenorphine, and other drugs market is adversely affected due to COVID-19 pandemic.

Morphine, Buprenorphine, and Other Drugs Market: Restraint

The increasing number of the lawsuits for opioids may hamper the market growth. The rising number of lawsuits in opposition of manufacturers of opioids and the growing incidence of deaths related to overdose of opioids are major factors that obstruct the opioids drug market growth. The lawsuits that are filed against the opioid producing companies claim that the drug manufacturers hid data of after-effects of the addiction of opioid drugs. In addition, the number of deaths due to overdose of drugs is rising greatly, and opioids contribute remarkably to such issues. The growing inclination of opioid abuse and opioid addiction are the crucial factors contributing to the high death rate related to overdose of opioid.

Key Players

Major players operating in the global 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