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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.

Market Taxonomy:

On the basis of indication, the global ketorolac market is segmented into:

  • Fever
  • Inflammation
  • Surgery Pain.
  • Dysmenorrhea
  • Others

On the basis of formulation, the global ketorolac market is segmented into:

  • Oral
  • Parental
  • Topical

On the basis of region, the global ketorolac market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users