Opioid pharmaceuticals include morphine, buprenorphine, and other related medications. Opioids are derived from the poppy seed, as well as synthetic and semi-synthetic substances with comparable qualities that bind to opioid receptors in the brain. Some prescription opioids are manufactured directly from the plant, while others are created in laboratories utilizing the same chemical structure. Opioids are often used for pain treatment because they have sedative and analgesic effects. In addition, medications such as buprenorphine are used to treat opioid addiction in the long term. Traumatic, visceral, ischemic pain, cancer, and postoperative pain are all treated with morphine, buprenorphine, and other related medications. However, the global market for morphine, buprenorphine, and other medications is being impeded by an increase in the number of lawsuits filed against opioids and overdoses that can lead to death.
The global market for morphine, buprenorphine, and other pharmaceuticals is predicted to reach US$ 7,728.9 million in 2021, with a CAGR of 5.2 percent over the forecast period (2021-2028).
The rising prevalence of cancer is a primary driving element behind the market's expansion. According to the National Cancer Institute (NHI), the annual rate of new cancer diagnoses in the United States was 442.4 per 100,000 men and women (based on 2013–2017 cases). Furthermore, it was anticipated that 1,806,590 new instances of cancer incidence diagnosis will be diagnosed in the United States in 2020, with 606,520 individuals dying from the disease. For the treatment of moderate to severe pain in cancer patients, several opioid medications, such as opioids, are advised. According to the American Cancer Society, opioids are crucial in alleviating cancer-related pain and treating cancer patients. As a result of the rising global prevalence of cancer, demand for prescription opioid medications is predicted to increase throughout the forecast period.
Buprenorphine is a drug that has lately been used to treat opioid use disorder and addiction. Such medications are being approved for commercialization by international healthcare bodies. For example, in 2019, the European Medicines Agency's (EMA) human medicine committee proposed that a new pharmaceutical called Sixmo, which includes buprenorphine and is used to treat opioid addiction, be granted marketing authorization in the European Union. Sixmo is a six-month implant that distributes buprenorphine in small, precise doses. As a result, the market for morphine, buprenorphine, and other medications is projected to grow as new products are developed and approved.