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Medical Morphine Market 2023 Forecasts by Global Industry Analysis in 2019 Report
Morphine is a pain medication which directly acts on the central nervous system to decrease acute and chronic pain. As per the report published by Market Research Future (MRFR), the global medical morphine market is anticipated to expand at a noteworthy CAGR of 7.5% during the forecast period of 2018-2023.
The application of medical morphine as a slow-release formulation for opiate substitution therapy (OST) in various countries such as Austria, Slovenia and others is fueling the growth of the global medical morphine market. The benefits of morphine in reducing the shortness of breath due to cancerous and non-cancerous causes is also impacting positively on the expansion of the global medical morphine market.
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Purdue Pharma L.P.
Johnson Matthey Fine Chemicals
Sun Pharmaceutical Industries Ltd.
Verve Health Care Ltd.
Taj Pharmaceuticals Limited
MANUS AKTTEVA BIOPHARMA LL
Medical Morphine Market Segmentation:
The global medical morphine market has been segmented by route of administration, application, distribution channel, end-user, and region. Further, the market by route of administration is segmented into oral and injectable. Based on application, the market is segmented into arthritis, cancer, myocardial infarction, kidney stones, diarrhea, and others. With reference to distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others. On account of end-user, the market is segmented into hospitals and clinics, home care, and ambulatory surgical centers. Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Medical Morphine Market – Drivers
Morphine is a quintessential pain medication which is prescribed by licensed medical practitioners to the patients with acute or chronic pain. The increased use of morphine by the patients suffering from cancer, arthritis, myocardial infarction and other diseases is driving the expansion of the global medical morphine market. Increasing geriatric population and prevalence of diseases like arthritis, cancer and others are inducing demand for morphine in the market, leading to the growth of the global medical morphine market.
Medical Morphine Regional Market Summary:
Americas held the largest share of the medical morphine market in 2017. The increasing prevalence of arthritis and other inflammatory disorders and rising more elderly population are likely to enhance the growth of the medical morphine market in the American region. Additionally, factors such as prescription of painkillers, increasing government initiatives, and funding for research and development in advanced medical treatment options are likely to enhance the growth of the medical morphine market in the American region. For instance, according to the American Heart Association, in 2014, around 31% of the deaths in the U.S. were due to cardiovascular disorders. Additionally, according to CDC, around 54.4 million U.S. adults were affected by arthritis in 2015. This growth rate of cardiovascular disorders and arthritis is expected to have a direct effect on medical morphine as it helps to relieve joint pain and postsurgical pain.
Europe is the second largest market and is expected to hold a healthy share in the global medical morphine market during the forecast period, 2018–2023. The European market is expected to grow at a sturdy growth rate during the forecast period owing to the lucrative growth of the healthcare sector coupled with the increasing prevalence of arthritis.
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Asia Pacific is expected to be the fastest growing market during the forecast period of 2018–2023. Factors such as the increasing prevalence of chronic diseases such as cardiovascular disorders are the major drivers for the market growth. China is expected to be the fastest growing country due to increasing population, eventually rising patient population and the availability of new treatment methods. Moreover, rising healthcare expenditure in the region is driving the growth of the medical morphine market in the Asia Pacific region.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market owing to the development of the healthcare industry and rising availability of specialty care centers.
Major Table of Content
1 Report Prologue
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
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