Medical Morphine: The increasing prevalence of arthritis is likely to drive the growth of the global market at a CAGR of 7.5%

Pune, India, January 20189 /MRFR Press Release/- Market Research Future (MRFR) announces the publication of its research report – Global Medical Morphine Market, 2018–2023

Market Analysis

The medical morphine market is anticipated to expand at a striking 7.5% CAGR during the assessment period (2018-2023). 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.

There are many factors that can be linked to the growth of medical morphine market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increased intake of morphine by patients that are suffering from myocardial infarction, arthritis, cancer and some other diseases and rising geriatric population. On the flip side, there are some factors that are likely to hinder the growth of the medical morphine market such as increased awareness concerning the adverse effects of this pain medication on the body such as functional impairment, drowsiness, hormonal imbalance and constipation and the strict regulatory framework that the government has imposed for restricting the amount of morphine that should be prescribed due to the increasing abuse rate of this pain killer.

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.

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.

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.

Key Players

Leading players in the medical morphine market include MANUS AKTTEVA BIOPHARMA LLP, NORTHEAST PHARM, Taj Pharmaceuticals Limited, Verve Health Care Ltd., Sun Pharmaceutical Industries Ltd., Johnson Matthey Fine Chemicals, Pfizer Inc., Purdue Pharma L.P., Alcaliber S.A, and Mallinckrodt Pharmaceuticals.

Nov 2018- The Food and Drug Administration (FDA) has recently approved a strong new opioid painkiller regardless of the warnings from the physician critics highlighting on the fact that this this pain medication is likely to contribute towards the addiction epidemic. This drug called Dsuvia has been made addressing safety concerns. Its use is restricted only in certified health care settings that are medically supervised such as emergency departments, surgical centers and hospitals for administration through a health care expert. Extremely tight restrictions have been placed on this product’s use and distribution. Dsuvia is ideal for use in special cases where the patient is not capable of swallowing oral medicines or where intravenous pain relief access is not possible.

Access Report @ https://www.marketresearchfuture.com/reports/medical-morphine-market-6084