Market Analysis: Global Medical Morphine Market
Global medical morphine market to grow with a steady CAGR of 2.1% and is estimated to reach USD 29.9 billion by 2026. Increasing prevalence of cancer as morphine prescribed to overcome cancer related pain and vulnerable aging population and their medical conditions like arthritis are the key factors for growth of market.
Market Definition: Global Medical Morphine Market
Morphine is a narcotic analgesic found naturally in the opium poppy plants that are used for the treatment of moderate to chronic pain. It acts on central nervous system to relieve pain related to post surgery. Morphine is potent drug abuse worldwide due to its sedative and euphoric nature.
According to the stats published as distribution of morphine consumption globally by region in 2016, it was identified that the world’s largest consumer of morphine is United States (50.6%) followed by Europe which was 25.4% world's share of morphine. Increasing prevalence of cancer as morphine prescribed to overcome cancer related pain and growing cases of cardiovascular diseases like myocardial infarction as this medication effectively used when other nitrates failed to reduce the pain are the key factors for growth of market.
- Increasing cases of cancer related treatment worldwide as morphine is valuable agent to overcome cancer related pain
- Vulnerable aging population and their medical conditions like arthritis
- Rising awareness about treatment and technological advancement is driving the growth of market
- Morphine is potent drug abuse worldwide due to its sedative and euphoric nature
- Effective treatment is either unavailable or unaffordable
- Insufficient awareness about pain management in some developing countries
- Government hefty regulations to prevent illicit use of morphine
Segmentation: Global Medical Morphine Market
By Application Type
- Cough Suppressant
- Diarrhea Suppressant
By Indication Type
- Parkinson’s Disease
- Myocardial Infraction
- Kidney Stones
By Ingredient Type
- Apomorphine Hydrochloride
- Morphine Sulfate
- Morphine Acetate
By Dosage Form Type
- Oral Tablets
By Route of administration
By End users
- Specialty Clinics
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2019, US WorldMeds, LLC has initiated Phase III trial for apomorphine for the treatment of motor fluctuations in Idiopathic Parkinson's disease. The study expects to enroll 99 patients with early stage Parkinson’s and expect to complete by end of the Oct’19
- In December 2017, Egalet Corporation received FDA tentative approval for an expanded label of ARYMO ER (morphine sulfate), extended-release tablets for the management of pain
Competitive Analysis: Global Medical Morphine Market
Global medical morphine market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical morphine market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Players: Global Medical Morphine Market
Few of the major competitors currently working in the morphine market are Mallinckrodt plc., Alcaliber S.A, Sanofi, Johnson Matthey, Qinghai Lake Pharmaceutical Co.,Ltd., Northeast Pharmaceutical Group Co., Ltd, Sun Pharmaceutical Industries Ltd, Pfizer Inc, Fresenius Kabi USA, Daiichi Sankyo company limited, Rhodes Pharmaceuticals L.P, Allergan, Pacira BioSciences, Inc., Endo Pharmaceuticals Inc., Tris Pharma, Inc, US WorldMeds, LLC, Egalet Corporation and among others.
Research Methodology: Global Medical Morphine Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global medical morphine market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players