Emphasis on Route of Administration (Oral, Injectables, and Others.); Application (Arthritis, Cancer, Neurological Disorders, and Others); Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies); Region/Country
The Global Medical Morphine Market is anticipated to grow with an elevated CAGR of around 6% over the forecast period (2021-2027). Morphine is in a class of medications called opiate (narcotic) analgesics. It works by changing the way the brain and nervous system respond to pain. The rising prevalence of orthopedic diseases along with the changing lifestyle preferences are the main causes of the increased pain cases. For instance, the tennis elbow is a common condition that affects about 1-3% of the population (about 4 to 7 cases per 1000) every year. It’s the most common cause of persistent elbow pain, accounting for two-thirds of cases. Furthermore, the rising geriatric population along with increasing cases of tooth decay and cavities rises the demand for medical morphine. For instance, according to FDI World Dental Federation, oral diseases impact 3.9 billion people worldwide, with untreated tooth decay (dental caries) impacting more than half of the global population (44%), making it the most prevalent of all the 291 conditions included in the Global Burden of Disease Study.
Alcaliber S.A, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Taj Pharmaceuticals Limited, MANUS AKTTEVA BIOPHARMA LLP, Mallinckrodt Pharmaceuticals, Purdue Pharma L.P., Johnson Matthey Fine Chemicals, Verve Health Care Ltd., and Northeast Pharmaceutical Group Co. Ltd., are some of the prominent players operating in the medical morphine market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of Medical morphine.
Insights Presented in the Report
“Amongst Route of Administration, injectable segment holds the major share”
Based on the route of administration, the market is segmented into oral, injectables, and others. The injectable segment accounted for a significant market share in 2020 and it is estimated that it will exhibit a higher CAGR during the forecast period. The growth of this segment is mainly due to the drug being directly injected into the affected area which shows the instantaneous effect and becomes more specific in terms of the treatment. Furthermore, the increasing efficiency of the segment is also responsible for the segmental growth of injectables in the morphine market.
Amongst Application, the cancer segment holds the major share”
Based on application, the market is divided into arthritis, cancer, neurological disorders, and others. The cancer segment grabbed a significant market share in 2020 and is anticipated to grow at a rapid rate in the upcoming years owing to the rising cases of cancer and the chronic pain associated with them is responsible for the segmental growth in the medical morphine market. For example, according to WHO, in 2020, there were 2.3 million women diagnosed with breast cancer globally. As of the end of 2020, there were 7.8 million women are living who were diagnosed with breast cancer in the past 5 years.
Amongst Distribution Channel, the online pharmacies segment holds the major share”
Based on distribution channel, the market is divided into retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacies grabbed a significant market share in 2020 and are anticipated to grow at a rapid rate in the upcoming years. This is due to the rising prevalence of mobile applications and their uses along with an increasing number of startups. For instance, Netmeds was founded in 2015 and reached US$ 1.8 million by 2019. Furthermore, the heavy discounts offered by the online pharmacies attract customers resulting in an increase in the market size of the segment during the forecast period.
“North America represents one of the largest markets of medical morphine market”
For a better understanding of the market dynamics of the medical morphine market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America has a significant share in the medical morphine industry. This can be mainly due to the presence of well-established market players and frequent product launches in the region along with affordable health insurance plans in the region enabling the growth of the medical morphine industry. For instance, the U.S. passed the Affordable care and Reconciliation Acts in which affordable health insurance plans are provided to the people.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Medical Morphine Market Covid-19 Impact
6. Global Medical Morphine Market Revenue, 2019-2027f
7. Market Insights By Route Of Administration
8. Market Insights By Application
9. Market Insights By Distribution Channel
10. Market Insights By Region
11. Medical Morphine Market Dynamics
12. Medical Morphine Market Opportunities
13. Medical Morphine Market Trends
14. Legal & Regulatory Framework
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Global Medical Morphine Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global medical morphine market were the three major steps undertaken to create and analyze the adoption of medical morphine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global medical morphine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the medical morphine through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the medical morphine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as route of administration, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of medical morphine across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the medical morphine. Further, we conducted factor analysis using dependent and independent variables such as the growing number of people with chronic diseases and the increasing elderly population all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the medical morphine sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the medical morphine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the medical morphine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of route of administration, application, and distribution channel of the medical morphine market.
The main objective of the Medical morphine Market Study
The current & future market trends of Medical morphine were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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October 8, 2024
