Morphine Market: Overview and Dynamics
Morphine is an opioid that is naturally found in plants, animals, and humans. Primarily, morphine is used to treat acute pain and chronic pain by directly acting on the central nervous system (CNS) and decreasing the magnitude of pain. Morphine is grouped in narcotic analgesics which act on the central nervous system to relieve the pain.
Increased demand for morphine in developed countries like the United States and Europe has driven the market growth during the historical period. As per the World Health Organization’s list of essential medicines morphine ranks at 155th most commonly prescribed medicine in the United States.
Morphine is used as an extended-release capsule and extended-release tablets which are used to treat pain. Attributed to its high effectiveness against pain and the aforementioned facts, the global morphine market is poised to embark on a positive growth trajectory, registering a CAGR of ~3% over the forecast period (2020-2030).
On the basis of type, morphine comes in tablets or capsules form. However, growing demand for intravenous morphine injections will experiment significant growth in forthcoming years. Increasing demand in production of other drugs which are hydromorphone, oxymorphone, and heroin is set to augment the market growth.
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Morphine Market: Key Players
Global morphine market is partially consolidated in nature in which top five prominent companies accounts for over one third share of the global production and sales. Currently, Alcaliber S.A, Johnson Matthey Fine Chemicals, Mallinckrodt Pharmaceuticals, Pfizer Inc., Purdue Pharma L.P. and Sun Pharmaceutical Industries Ltd. are the key stakeholders in global morphine market.
The research report presents a comprehensive assessment of the morphine market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The morphine market report provides analysis and information, according to market segments such as geographies, ingredient, type, application and drug type.
Morphine Market: Regional Outlook
The report on the global morphine market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Attributed to huge demand from developed countries for morphine drug as a prescribed medicine for pain treatment has made North America and Europe leading markets in the world.
Alone United States accounted for over one fourth of the global demand due to which North America has driven the consumption of morphine during the historical period. As per The American Cancer Society estimates alone in United States there will be over 10 million people with age of 85 years. In result cancer cases are projected to increase in the same period which will create significant demand for morphine during the forecast period.
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Segmentation Analysis of Morphine Market:
The global morphine market is bifurcated into five major segments: ingredient, type, application, drug type, and region.
On the basis of ingredient, morphine market has been segmented as follows:
- Morphine Hydrochloride
- Morphine Sulphate
On the basis of type, morphine market has been segmented as follows:
- Oral Tablets
On the basis of application, morphine market has been segmented as follows:
On the basis of drug type, morphine market has been segmented as follows:
- Cough Suppressant
- Diarrhea Suppressant
On the basis of geographic regions, morphine market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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