Morphine Market Size, Segments, Sales, Demand and Analysis by Forecast to 2027
Morphine Market Overview
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.
Market Research Future (MRFR) has announced the release of a new market research report. The report analyzes the global medical morphine market and provides readers with forecasts for the 2020-2027 forecast period. According to the report, the global medical morphine market is expected to rise at a CAGR of 7.8% over the 2020-2027 forecast period.
However, the increased awareness regarding the adverse effects of morphine on the human body such as constipation, hormonal imbalance, drowsiness, functional impairment and others are negatively impacting the growth of the global medical morphine market. Medical morphine is prescribed for conditions such as arthritis, cancer, and cardiovascular disorders. The increasing use of painkillers in combating these disorders is the main driver for the global medical Morphine Market. Cardiovascular disorders are among the deadliest diseases of the modern age, with the American Heart Association reporting that one in three deaths in the U.S. in 2014 was due to cardiovascular disorders. Cardiovascular diseases claimed over 800,000 lives in the U.S. in 2014, demonstrating their growing prevalence. As a result, medication to counter cardiovascular pain is becoming ever more prevalent. This is likely to be a major driver for the global medical morphine market, as pollution and lifestyle factors are likely to further drive the prevalence of cardiovascular diseases across the world in the coming years.
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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Competitive Analysis:
Leading players in the global medical morphine market include 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, and MANUS AKTTEVA BIOPHARMA LLP.
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Morphine Market Segmentation
The global medical morphine market has been segmented on the basis of route of administration, application, distribution channel and end-users. Based on route of administration, the medical morphine market is segmented into oral and injectable. Based on application, the medical morphine Market is segmented into arthritis, cancer, kidney stone, myocardial infarction, diarrhea and others. Based on distribution channel, the medical morphine market is segmented into hospital pharmacy, retail pharmacy, online pharmacy and others. Based on end-users, the medical morphine market is segmented into hospitals and clinics, ambulatory surgical centers, homecare, and others.
Morphine Market Regional Analysis
Geographically, the report segments the global medical morphine market into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa. The Americas segment is further segmented into North and South America, while the Europe segment is further divided into Western and Eastern Europe.
The Americas and Europe collectively account for more than 75% of the global medical morphine market and are likely to remain the largest regional segment of the market due to the high geriatric population in the region. Geriatric care is a major issue in countries such as the U.S., Canada, the UK, and France, which is likely to enable strong prospects for the medical morphine market in these regions over the forecast period. Increasing prevalence of cardiovascular diseases is likely to enable strong growth of the APAC market for medical morphine over the forecast period.
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