Market Research Future (MRFR) Announces the Publication of its Research Report – Global Medical Morphine Market, with expected to register a CAGR of 7.5% during the Forecast Period of 2020–2023
Market Segmentation
In MRFR’s report, the Medical Morphine Market is segmented on the basis of administration, application, distribution channel and end-users.
Based on administration, it is segmented into injectable and oral. Here the oral segment is predicted to have maximum market share due to its high accessibility, dose accuracy and the ease of carrying the same in comparison to injectables as well as other counterparts.
Based on application, the medical morphine market is segmented into diarrhea, myocardial infarction, kidney stone, cancer and arthritis and others. Of all, the others segment is predicted to grow at the fastest with 3.1% CAGR due to rising number of morphine prescriptions for nominal conditions in the US. The cancer segment is predicted to touch a lucrative growth during the forecast period owing to rising prevalence of bone cancer across the world.
Based on distribution channel, it is segmented into online pharmacy, retail pharmacy and hospital pharmacy.
Based on end-users, the medical morphine market is segmented into homecare, ambulatory surgical centers, hospitals and clinics.
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Market Players
- Mallinckrodt Pharmaceuticals
- Alcaliber S.A
- Purdue Pharma L.P.
- Pfizer Inc.
- Johnson Matthey Fine Chemicals
- Sun Pharmaceutical Industries Ltd.
- Verve Health Care Ltd.
- Taj Pharmaceuticals Limited
- NORTHEAST PHARM
- MANUS AKTTEVA BIOPHARMA LL
Medical Morphine Market - Market Analysis
Morphine is basically a quintessential pain medication prescribed by licensed physicians. It belongs to the group of painkillers known as opioids which acts on the central nervous system directly to reduce chronic and acute pain. Today, it is taken in different forms namely oral solutions, injections, tablets and capsules and suppositories. Morphine is a strong painkiller that is used for treating severe pain such as during a serious injury, post operation or pain from a heart attack or cancer. Moreover, it is also used in case of other types of pain that are long-standing where weaker painkillers fail to work. The dosage of morphine differs from individual to individual and will rest on the severity of the pain. It is available in two forms- slow-release morphine and fast-acting morphine.
Competitive Analysis
The rising number of investors in this market is strengthening the competition amid the global medical morphine market players. The high expenditure on R&D by the pharmaceutical companies to introduce new products in the global market along with strategic mergers and acquisition by the leading players is resulting in the expansion of their business within the medical morphine market.
Regional Analysis
Based on region, the medical morphine market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America leads the market due to rising demand for opioid pain medications. Europe holds the second largest position due to rising prevalence of diseases such as myocardial infarction, cancer and others. In Asia Pacific, the medical morphine market is projecting a striking growth owing to rising geriatric population combined with increased intake of medical morphine as a pain killer in this region. The medical morphine market in Middle East and Africa is predicted to grow in a steady pace owing to limited accessibility of medical facilities, lack of awareness amid the people in the region’s underdeveloped areas and poor healthcare infrastructure.
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