Medical Morphine Market overview 2018 to 2023, Booming CAGR of 7.5% with Top Renowned like Taj Pharmaceuticals, Verve Health Care, Purdue Pharma, Pfizer etc.

Market Research Future (MRFR) announces the publication of its research report – Global Medical Morphine Market, 2018–2023. Global Medical Morphine Market, with expected to register a CAGR of 7.5% during the Forecast Period

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 injectables. Based on application, the market is segmented into arthritis, cancer, myocardial infarction, kidney stones, diarrhea, and others.

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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 Scenario:

The medical morphine market is expected to register a CAGR of 7.5% during the forecast period of 2018–2023. The global medical morphine market is majorly driven by the increasing prescription of painkillers for different illnesses such as arthritis, cardiovascular disorders and cancer, growing older population leading to the rising patient population, and growing penetration by market players.

For instance, according to the American Heart Association, in 2014, one in every three deaths in the U.S. was due to cardiovascular disorders. Similarly, cardiovascular disorders had claimed over 801,000 lives in 2014 in the U.S. Additionally, the increasing use of painkillers to relieve pain in postoperative surgeries is likely to drive the growth of the morphine market globally. However, addiction to morphine leading to drug abuse is likely to hamper the growth of the market. Likely the limited regulatory scenario is also expected to turn as a challenge for the 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.

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 LLP

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This release was published on openPR.