Market Challenges And Opportunities

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.