What is Global Codeine Phosphate Market?
The Global Codeine Phosphate Market is a vast and dynamic sector that deals with the production, distribution, and consumption of Codeine Phosphate, a naturally occurring alkaloid found in opium poppy. This market is a significant part of the global pharmaceutical industry, as Codeine Phosphate is widely used in the medical field for its analgesic, antitussive, and antidiarrheal properties. The market's value was estimated at US$ 205 million in 2022, and it is projected to grow to US$ 272.5 million by 2029, with a Compound Annual Growth Rate (CAGR) of 4.1% from 2023 to 2029. This growth is driven by the increasing demand for effective pain management solutions and the rising prevalence of diseases that require the use of Codeine Phosphate for treatment.
Extracted from Opium, Synthesized by Morphine in the Global Codeine Phosphate Market:
Codeine Phosphate can be obtained in two ways: it can be extracted from opium or synthesized from Morphine. The Global Codeine Phosphate Market encompasses both these methods. The majority of the market, over 60%, is dominated by Codeine Phosphate that is extracted from opium. This is because opium extraction is a more traditional and cost-effective method of obtaining Codeine Phosphate. However, the synthesized from Morphine segment also holds a significant share in the market, as it offers a more controlled and consistent production process.
Narcotic Analgesic, Antitussive, Others in the Global Codeine Phosphate Market:
The Global Codeine Phosphate Market serves various areas, including its use as a Narcotic Analgesic, Antitussive, and others. As a Narcotic Analgesic, Codeine Phosphate is used to relieve moderate to severe pain. It works by changing the way the brain and nervous system respond to pain. As an Antitussive, it is used to reduce coughing, often in combination with other medications. Other uses of Codeine Phosphate include treatment of diarrhea and other medical conditions as prescribed by a healthcare professional. Each of these areas contributes to the overall growth and development of the Global Codeine Phosphate Market.
Global Codeine Phosphate Market Outlook:
The Global Codeine Phosphate Market is dominated by the top three manufacturers, who collectively hold over 40% of the market share. This indicates a high level of market concentration, with these key players exerting significant influence over market trends and prices. Geographically, Europe is the largest market for Codeine Phosphate, accounting for about 30% of the global market. This is followed by East & South Asia and North America, each holding over 35% of the market share. These regions are major consumers of Codeine Phosphate due to their large population and advanced healthcare systems.
| Report Metric | Details |
| Report Name | Codeine Phosphate Market |
| Accounted market size in 2022 | US$ 205 million |
| Forecasted market size in 2029 | US$ 272.5 million |
| CAGR | 4.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Macfarian Smith, Francopia, Noramco, Weifa, Mallinckrodt, Temad, GSK, Alkaloida, Tas. Alkaloids, Alcaliber, Fine Chemicals, Aesica, Sino Pharm, Sri Krishna, TPI |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
