Medical Morphine Market Size to Reach USD 13.32 Billion by 2024: Hexa Research

Monday, March 5, 2018 Research News
Email Print This Page Comment bookmark
Font : A-A+

FELTON, California, March 5, 2018 /PRNewswire/ --

The global medical morphine market is expected to reach

USD 13.32 billion by 2024, driven by increasing morphine consumption in the U.S. The increasing prevalence of arthritis and cancer in geriatric patients is projected to impact the morphine market globally positively.

North America dominated the market by contributing more than 75.0% of the share in 2016 and continue to dominate owing to the increasing number of prescriptions for morphine in the U.S. North American market for the same is expected to grow at a CAGR of 2.9% over the forecast period. However, lack of availability of medical morphine in countries such as India is expected to hamper the growth of the market.

In terms of route of administration, the oral segment is expected to grow at the fastest CAGR over the projected period owing to its dose accuracy, high accessibility, and ease of carrying compared to injectables and other counterparts.

On the basis of indication, others segment is expected to grow at the fastest CAGR of 3.1% over the forecast period owing to increasing number of prescriptions of morphine in U.S. for nominal conditions. The cancer segment is expected to exhibit lucrative growth due to increasing prevalence of bone cancer globally.

Browse full research report with TOC on "Medical Morphine Market Size and Forecast, By Route of Administration (Oral, Injectable), By Indication (Cancer, Arthritis) And Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/medical-morphine-market

Morphine with its use in therapeutics is also one of the most abused drug globally. Respective governments are introducing initiatives to prevent substance abuse and decrease death rates caused by morphine. Furthermore, researchers are concentrating on drug abuse treatment for opioid addicts which is expected to reduce the illicit use of morphine. For instance, in August 2017, researchers at University of California San Diego in collaboration with CARI therapeutics commenced development of a biosensor capable of detecting opioids in human bodies.

Browse reports of similar category by Hexa Research: 

  • Type 1 Diabetes (T1D) Market - Global type 1 diabetes market size was valued at USD 25.52 billion in 2016 and is expected to exhibit rewarding growth over the forecast period. This is majorly due to the significant increase in type 1 diabetes (T1D) prevalence followed by rising uptake of novel formulations of insulin analogs and auxiliary therapies.
  • Herbal Medicine Market - global herbal medicine market size was valued at USD 71.19 billion in 2016 and is expected to exhibit profitable growth over the forecast period. The increase is attributed to the increasing preference of consumers towards traditional medicines which do not cause overdose toxicity and have fewer side effects.
  • Contraceptive Drugs and Devices Market - Contraceptive drugs and devices market is expected to grow over the forecast period owing to the increasing prevalence of sexually transmitted diseases such as HIV & HPV and growing population. The other drivers of this market are increasing government & NGO's programs against the abortion, social & political consideration, and changing lifestyle.

Hexa Research has segmented the global medical morphine market report based on route of administration, indication and region: 

Segmentation by Route of Administration, 2014 - 2024 (USD Million) 

• Oral

• Injectables

• Others

Segmentation by Indication, 2014 - 2024 (USD Million) 

• Cancer

• Arthritis

• Others

Segmentation by Region, 2014 - 2024 (USD Million) 

• North America

    • U.S.

• Europe

    • Germany

• Asia Pacific

    • China

    • India

• Rest of the World

Key players analyzed: 

• 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

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact: Michelle T. Corporate Sales Specialist Hexa Research Phone: +1-415-349-0058 Toll Free: 1-800-489-3075 Email: sales@hexaresearch.com

Web: https://www.hexaresearch.com/

SOURCE Hexa Research



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store