About Morphine Hydrochloride
Morphine hydrochloride is the hydrochloride salt of morphine. It is basically a type of morphine. Morphine is a naturally occurring opioid present in plants, animals, and humans. Morphine is primarily used to treat acute and chronic pain by working directly on the central nervous system (CNS) and reducing pain intensity. Morphine belongs to the class of narcotic analgesics, which alleviate pain by acting on the central nervous system. During the historical era, the market has grown due to increased demand for morphine in developed countries such as the United States and Europe. Morphine is the 155th most widely prescribed drug in the United States, according to the World Health Organization's list of essential medicines. Morphine is a pain reliever that comes in the form of extended-release capsules and extended-release tablets. Because of its high efficacy against pain and the above evidence, the global morphine demand is expected to expand at a healthy rate.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market. Analyst at AMA Research estimates that Asia Pacific Players will contribute the maximum growth to Global Morphine Hydrochloride market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mallinckrodt Pharmaceuticals (United Kingdom), Pfizer Inc. (United States), Sun Pharmaceutical Industries Ltd (India), Allergan inc. (Ireland), Sandoz Canada Inc. (Canada), Mayne Pharma Group Limited (Australia), Daiichi Sankyo Inc. (Japan), Hikma Pharmaceuticals USA Inc. (United States), Mylan NV (United States) and Purdue Pharma L.P (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Verve Health Care Ltd (India), Alcaliber S.A. (Spain) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Morphine Hydrochloride market by , Application (Pain Management, Diarrhea Suppressant, Cold and Cough Suppressant and Other) and Region.
On the basis of geography, the market of Morphine Hydrochloride has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Drug Type, the sub-segment i.e. Anesthesia will boost the Morphine Hydrochloride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Dosage Form, the sub-segment i.e. Injection will boost the Morphine Hydrochloride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Rising Prevalence of Orthopedic Diseases and Chronic Pain and Most Widely Available and Low Priced Drug
Challenges:
Increasing Palliative Care Facilities
Restraints:
Various side Effects of the Drugs
Opportunities:
Growing Investment in the Healthcare Industry
In February 2020, Fresenius Kabi Canada announced the launch of Morphine Sulfate injection in a vial format. Fresenius Kabi Morphine is available in two presentations: 2 mg/mL and 10 mg/mL per vial.
According to FDA Take careto avoid dosing errors due to confusion between differentconcentrations and betweenmg and mL, which could result inaccidental overdose and death.
Key Target Audience
Pharmaceutical Companies, Healthcare Industry, Regulatory Bodies, Research Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.