Diclofenac is a nonsteroidal anti-inflammatory drug (NSAID). It is used as a therapeutic for pain, joint or muscle stiffness caused by arthritis and swelling.
Diclofenac Market: Introduction
- Diclofenac is a nonsteroidal anti-inflammatory drug (NSAID). It is used as a therapeutic for pain, joint or muscle stiffness caused by arthritis and swelling. It is available in the form of tablets, capsules, eye drops, gels, and patches, which is available only on prescription only. It is sold under various brands such as Voltaren, Solaraze, and Arthrotec.
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- Diclofenac is prescribed to minimize moderate pain, stiffness, inflammation, and swelling. Rising incidences of respiratory and autoimmune disorders coupled with an increase in adoption of anti-inflammatory drugs is a key factor boosting the global diclofenac market. Increase in awareness regarding anti-inflammatory drugs along with a rise in research & development activities is projected to propel the diclofenac market during the forecast period.
- The diclofenac market can be segmented based on indication, route of administration, end–user, and region. Basedon indication, the market can be segregated into osteoarthritis, dysmenorrhea, ankylosing spondylitis, migraine, rheumatoid arthritis, and pain. Based on end-user, the market can be classified into hospitals, ambulatory surgical centers, pharmacies, and clinics. In terms of route of administration, the diclofenac market can be split into oral, parenteral, ophthalmic, and tropical.
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Key Drivers, Restraints, and Opportunities of Global Diclofenac Market
- Increase in number of geriatric patients worldwide is a key factor boosting the global diclofenac market. As per the American Association of Neurological Surgeons, around 65 million people in the U.S. suffer from inflammatory disorders. Hence, the number of people suffering from the osteoarthritis and dysmenorrhea disorders is estimated to rise, due to an increase in the geriatric population, during the forecast period.
- Rising awareness regarding anti-inflammatory medication among the patients is projected to further fuel the diclofenac market. However, technological expansion in the healthcare industry has fueled the adoption of various minimally invasive surgical procedures for anti-inflammatory medication. Rising consciousness about treatment in both developing and developed economies and inclination toward preventive healthcare over partnerships & acquisitions in research are further boosting the diclofenac market.
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- Diclofenac medicines led to various side-effects or adverse drug reactions including abdominal bloating, constipation, cloudy urine, and belching, which is estimated to restrain the global diclofenac market. Moreover, stringent regulatory scenario of these drugs is also anticipated to hinder the global diclofenac market. Additionally, rising research & development on alternative anti-inflammatory drugs and untoward effects are key factors that hamper the global diclofenac market.
Asia Pacific to Capture Major Share of Global Diclofenac Market
- North America is projected to account for a major share of the global diclofenac market due to sturdy healthcare infrastructure coupled with major focus on the design of novel devices as well as enhanced diagnosis among patients. Commendatory reimbursements policies and presence of major players in the region are further boosting the diclofenac market.
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- Asia Pacific is expected to account for the second-largest share of the global diclofenac market during the forecast period. The market in the region is likely to expand at a significant CAGR from 2020 to 2030 due to an increase in cases of inflammation disorders and rise in healthcare expenditure. However, the number of patients suffering from chronic & acute disorders is increasing consistently, which in turn is fueling the diclofenac market in the region.
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Key Players Operating in Global Diclofenac Market
The global diclofenac market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global diclofenac market are:
- Auro Laboratories Limited
- Henan Dongtai Pharmaceutical Co.
- Bayer AG
- Pfizer Inc.
- Hunan Warrant Pharmaceutical Co., Ltd
- Novartis AG
- XianShi Pharmaceutical Group
- Merck & Co., Inc.
- Istituto Biochimico Italiano G. Lorenzini S.p.A.
- Dezhou Deyao Pharmaceutical Co., Ltd.
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