March 07, 2019: Adroit Market Research launched a study titled, “Global Medical Morphine Market Size 2018 By Indication (Cancer, Arthritis, and Others), By Route of Administration (Injectables, Oral, and Others), By Region and Forecast 2018 to 2025”. The study covers the global medical morphine market value for a period from 2015 to 2025. The global medical morphine market report also includes insights into the industry such as pipeline analysis, and porters five forces analysis, along with drivers and restraints.
By 2025, the global medical morphine market size is estimated to reach USD 13.44 billion majorly driven by increasing consumption within the U.S. Increasing prevalence of cancer coupled with high efficacy of morphine to overcome cancer-related pain has increased the number of morphine prescriptions across North America. Additionally, increasing geriatric population and related medical conditions such as arthritis are expected to spur the demand for morphine by 2025.
Morphine is one of the most abused drug globally. To prevent drug abuse, various regional governments are implementing initiatives to prevent illicit use of the drug. On the other hand, initiatives to treat morphine addicts are gaining attention. For instance, in August 2017, researchers in the University of California San Diego in collaboration with CARI therapeutics initiated development of an advanced sensor which can detect opioids in humans. Furthermore, researchers at the University of Washington have developed a smartphone application named as Second Chances which is still in trials features opioid overdose detection. The application uses sonar to monitor the breathing of the user to monitor opioid overdose. Such advancements are expected to reduce the opioid crisis within the U.S. encouraging medical use of morphine.
In terms of indication, others segment dominated the global medical morphine market pertaining to a large number of prescriptions of morphine for nominal medical conditions such as body pain, migraine, and many others within the U.S. which consumes more than 50% morphine globally.
In terms of region, North America dominated the global market and is expected to do so in the coming years pertaining to rising consumption and abundant availability of the drug within the country. Within the U.S, during 2013-2015, 1 daily dose of opioids were prescribed for every 20 people compared to 1 in 800 in Japan. High per capita consumption of the drug within the U.S. and Canada is expected to drive the regional demand in coming years. According to the International Narcotics Control Board, in 2015, morphine consumption within Canada was 117.74 mg/capita whereas in the U.S. it was 60.99 mg/capita. Both the countries ranked in the top 5 globally.
The global medical morphine market is characterized by consolidation on account of the highly regulated nature of production as well as the supply of raw materials majorly opium. Currently, the shortage of injectable morphine was observed within the U.S. However, in April 2018, the Drug Enforcement Administration lifts the production quota to overcome the shortage. Key vendors within the market include Mallinckrodt Pharmaceuticals, Johnson Matthey Fine Chemicals, Taj Pharmaceuticals Limited, Pfizer Inc., Sun Pharmaceutical Industries Ltd., and many more.
Key segments of the global medical morphine market
Indication Overview, 2015-2025 (USD Million)
Route of Administration Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of the World