Ketorolac is a non -steroidal anti-inflammatory drug (NSAID’S) recommended for treatment of moderate or severe pain. Ketorolac is administrated by oral, parental and topical route of administration in human body. Ketorolac is used for short duration treatment, physicians recommend ketorolac for less than 6 days of treatment. Moreover, ketorolac functions as inhibitor of prostaglandin synthesis, having anti-inflammatory, antipyretic and analgesic properties and helps in lowering the contraction/relaxation of smooth muscles in the human body,
Global Ketorolac Market Drivers
Ketorolac has diversified medicinal use such as, ketorolac with paracetamol controls pain without affecting respiration in infants, used in treatment of dysmenorrhea, used as eye drop during eye surgery to surge pain in patients. Thus, due to diversified used in different medical conditions, pharmaceutical companies are focusing on research and development to strengthen their market share in global ketorolac market. For instance, in 2017, Cycle Pharmaceutical announced the approval of 30mg/ml ketorolac tromethamine injection by United States Food Drug and Administration as Abbreviated New Drug Application in United States.
Global Ketorolac Market COVID-19 Impact Analysis
The COVID-19 pandemic has impacted growth of various markets and it is also expected to hamper the growth of global ketorolac market during the forecast period. Moreover, safety precaution suggested by World Health Organization to reduce the risk of spread of COVID-19 and implementation of nationwide lockdowns has affected the supply chain of ketorolac to pharmaceutical companies and higher shipping prices due to reduced excipient supply containers.
Global Ketorolac Market Restraints
The dosing frequency of ketorolac is only for 5 days in human beings, if dose of ketorolac exceeds more than 5 days leads to severe side effects such as gastro intestinal bleeding, ulcers and coagulation disorders. Therefore, use of ketorolac as a short duration treatment in moderate pain is expected to restrain the global ketorolac market.
Global Ketorolac Market Regional Analysis
On the basis of region global ketorolac market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to witness significant growth in global ketorolac market owing to pharmaceutical companies focusing on Product launches in non-steroidal anti-inflammatory drugs for management of severe and moderate pain. For instance, In 2018, Nephron pharmaceuticals Corporation, launched a novel opoid free analgesic drug BKK with drug content Bupivacaine, ketorolac and ketamine.
In Europe, pharmaceutical companies are focusing on product approval in region to strengthen their market share in global ketorolac market. For instance, in 2018 Omerous Corporation announced approval for sales of phenylephrine and ketorolac solution (OMIDRA) as an intraocular solution by European Medical Agency.
Global Ketorolac Market Key Players
Key players operating in the global ketorolac market include 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.
On the basis of indication, the global ketorolac market is segmented into:
On the basis of formulation, the global ketorolac market is segmented into:
On the basis of region, the global ketorolac market is segmented into: