Report Code: A13374 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Non-steroidal Anti-inflammatory Drugs (nsaids) Market
Request Now !Non-steroidal anti-inflammatory drugs are used to treat pain, high fever, and prevention of blood clots. Moreover, when high doses of non-steroidal anti-inflammatory drugs (NSAIDs) are administered, the inflammation is reduced. The non-steroidal drugs having depressing and anti-inflammatory action. Non-steroidal anti-inflammatory drugs (NSAIDs) works by inhibiting the COX-1 and COX-2 enzymes, which are responsible for inflammation. Paracetamol, ibuprofen, aspirin, and naproxen are common types of non-steroidal anti-inflammatory drugs.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that first emerged in late December in Hubei province of the Wuhan city in China. The virus that causes, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is highly infectious and is transmitted from person to person. Since the outbreak in December 2019, the disease has spread to across 213 countries around the globe with the World Health Organization declaring it a pandemic on March 11, 2020.
Pharmaceutical and biotech companies along with governments around the globe are working to address the COVID-19 outbreak, from supporting the vaccines development to medicine supply chain planning. Approximately, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a significant increase in demand for the treatment of COVID-19. Such increased demand for these drugs has offered huge opportunities for manufacturers of COVID-19 treatment drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future due to the demand for vaccine and the treatment drugs for COVID-19. This in anticipated to have a significant impact on the non-steroidal anti-Inflammatory drugs (NSAIDs) market.
Top Impacting Factors
Market Trend
New R & D Activities to Develop Novel NSAID Products
The U.S. Food and Drug Administration (USFDA) approved over-the-counter diclofenac sodium skin gel 1% of Perrigo Company plc in May 2019. This product provides chronic pain relief.
Teva Pharmaceutical Industries Ltd. announced the launch of Flector 1 Patch in March 2019. The product was released in the U.S. market. It is a non-steroidal anti-inflammatory drug (NSAID) that is used to treat chronic pain caused by minor wounds, injuries, and strains
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Questions answered in the Non-steroidal Anti-Inflammatory Drugs (NSAIDs) Market Report
Non-steroidal Anti-Inflammatory Drugs (NSAIDs) Market Report Highlights
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Key Market Players | Bayer AG, Johnson and Johnson Services, Inc., Depomed, Pfizer Inc., Yunnan Baiyao, Allergan, Grunenthal, Endo, Teva, Merck, Sanofi, AstraZeneca, GSK plc, Purdue, Eli Lilly |
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