Global medical morphine market accounted for USD 11.03 billion in the year 2017, and is likely to witness tremendous in coming years. Increasing prevalence of cancer and other diseases such as cardiovascular illnesses and others as well as increasing cases of arthritis among the young as well as old population, along with increasing geriatric population are the major factors fueling for the growth of global medical morphine market over the forecast timeframe. Further, increasing sedentary lifestyle of individuals as well as shifts in eating habits, rising prevalence of fast food and junk food among the population due to lack of time or availability of ready to eat food items especially in urban areas among the working population is further creating opportunities for the growth of global medical morphine market over the forecast timeframe.
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From a regional frame of reference, the Europe and US medical morphine market is likely to witness significant gains in the coming years as they have been contributing 85% of the overall market share in the recent past. These regions make use of the morphine for medical purposes on a large scale. Moreover, other regions such as Asia Pacific and MEA include a large number of developing as well as underdeveloped countries, who would leverage to offer better medical which is one of the cheapest and easily accessible among the regions.
Even if the morphine may have tremendous uses in the medical field, majorly in reducing the pain instantly of any organ by acting on tissues and organs including intestinal mucosa, where as one of its side effects can be serious constipation among the patients. However, some of the major challenges faced by the morphine producers are cost of the product, as it is available at a lower cost in the US and neighboring nations, whereas the price is high in the other countries.
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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.
Table of Content:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Medical morphine Overview, By Route of Administration
Chapter 5. Medical morphine Overview, By Indication
Chapter 6. Medical morphine Market Overview, By Region
Chapter 7. Company Profiles
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