Ketorolac Market: Introduction
Ketorolac is an anti-inflammatory drug that is used to treat short-term, moderate to severe pain. Ketorolac is prescribed before or after medical procedures such as surgery. The drug blocks the production of certain natural substances that cause inflammation in the body, which in turn helps in the reduction of fever, pain, and swelling. Ketorolac is available in three water-soluble crystal forms. The molecular weight of ketorolac is 376.41. Ketorolac has mild interactions with at least 78 different drugs, moderate interactions with at least 228 different drugs, serious interactions with at least 47 different drugs.
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Key Drivers, Restraints, and Opportunities of Global Key Drivers, Restraints, and Opportunities of Global Ketorolac Market
- Ketorolac has diverse medicinal use such as, eye drop during eye surgery to surge pain in patients, treatment of dysmenorrhea ketorolac with paracetamol controls pain without affecting respiration in infants. Thus, diverse use of ketorolac in different medical conditions is prompting pharmaceutical companies to focus on research & development to strengthen their market share in the global ketorolac market.
- According to a Science Direct article published in June 2020, ketorolac can be utilized for the treatment of PAK1-dependent COVID-19 infection and numerous other deadly viruses in the future.
- Stringent regulatory scenario is projected to hamper the ketorolac market during the forecast period. For instance, in April 2020, Fresenius Kabi USA, LLC voluntarily recalled 13 lots of Ketorolac Tromethamine due to the presence of particulate matter composed of the following elements: carbon, silicon, oxygen, and polyamides. Furthermore, in March 2020, Hikma Pharmaceuticals PLC announced the voluntary recall of Ketorolac Tromethamine Injection USP 30mg/mL, 1mL fill/2mL vials to the medical facility and retail levels due to the presence of small visible particulate matter. Additionally, in April 2019, Sagent Pharmaceuticals, Inc. announced the voluntary recall all over the nation of one lot of Ketorolac Tromethamine Injection due to contamination being detected during a routine simulation of the manufacturing process.
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Asia Pacific to Capture Major Share of Global Ketorolac Market
- Asia Pacific is expected to account for a major share of the global ketorolac market due to a rise in amputations or other surgeries in the region. Moreover, well-established healthcare infrastructure and a hub for key industry players are major drivers of the ketorolac market in the region.
- The ketorolac market in Latin America is estimated to expand at a rapid pace during the forecast period owing to a rise in healthcare infrastructure in the region. Moreover, an increase in road accidents, surgeries in Latin America is likely to propel the market in the region.
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Key Players Operating in Global Ketorolac Market
The global ketorolac market is highly concentrated due to the presence of key players. Several manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global ketorolac market.
Major players operating in the global ketorolac market are listed below:
- Omeros Corporation
- Assertio Holdings, Inc.
- Dr. Reddy’s Laboratories Ltd.
- Viatris Inc.
- Akorn, Incorporated
- Sun Pharmaceutical Industries Ltd.
- Dallas Formulations (P) Ltd.
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