COVID-19 Drives Increased Demand for Ketorolac in Global Market
With its impact on several markets, the COVID-19 epidemic is also expected to hinder growth of the global ketorolac market over the forecast period. Furthermore, the recommended safety measures by the World Health Organization (WHO) to minimize the transmission of SARS-CoV-2 virus and imposition of global lockdowns has majorly influenced the distribution chain of ketorolac and pharmaceutical organizations, and has resulted in higher shipping costs with decreased supply containers.
Overview
This market involves the treatment of severe to mild pain by using the NSAID (non-steroidal and anti-inflammatory drug) known as ketorolac which is controlled by parental, topical and oral route of regulation in the human body. Generally, the ketorolac is used in treatments of short duration and is recommended by the physicians to carrying-out treatments within a week. Owing to its anti-inflammatory, analgesic and anti-pyretic characteristics, the ketorolac is used as an inhibitor of prostaglandin synthesis to aid reduction in shrinkage of sensitive muscles in the human body.
Drivers
Ketorolac has unique clinical applications such as its addition with paracetamol helps in controlling pain without influencing the respiration system in infants, in eye drops to reduce pain in patients after the eye surgery, and in diagnosing dysmenorrhea. In 2017, the Cycle Pharmaceutical had announced the approval of its 30mg/ml ketorolac tro-methamine injection as an Abbreviated New Drug Application by the United States Food Drug and Administration.
Restraints
For human beings, the ketorolac dosing frequency is just for 5 days, in case the dosage of ketorolac is extended beyond 5 days, it may lead to serious side effects such as ulcers, coagulation disorders and gastro-intestinal bleeding. Hence, utilization of ketorolac for limited period of time in mild pains is expected to refrain growth of the global ketorolac market.
Regional Analysis
Due to the focus of key pharmaceutical companies on launch of products in NSAID for administration of critical and mild pain, the North American region is expected to experience a robust growth in the global ketorolac market. In 2018, the Nephron Pharmaceuticals Corporation had introduced BKK, a novel opioid free analgesic drug with other drug contents of Ketorolac, ketamine and Bupivacaine.
The pharmaceutical organizations in the European region are focused on approval of their respective products to bolster their share in the global ketorolac market. In 2018, Omerous Corporation had announced the approval by the European Medical Agency for distribution of its phenylephrine and ketorolac solution as an intraocular solution.
Market Taxonomy:
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According to the formulation, the global ketorolac market is classified into:
Oral
Parental
Topical
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According to the indication, the global ketorolac market is classified into:
Fever
Inflammation
Surgery Pain.
Dysmenorrhea
Others
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According to the region, the global ketorolac market is classified into:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Top Key Players Include In Ketorolac Market Market: Allergan plc, Deepcare Health Pvt Ltd, Cadila Healthcare Limited, Intas Pharmaceuticals Limited, Ranbaxy Laboratories Limited, Omeros Corporation, Nephron Pharmaceuticals Corporation, Cycle Pharmaceuticals Ltd, and Neon Laboratories Limited.
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