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Meloxicam Market Segmented By Tablet, Capsule, Granules, Suspension form with Oral, Intravenous and Topical route of administration
Meloxicam is non-steroidal anti-inflammatory drugs (NSAIDs) belonging to the enolic acid group. It is a selective COX-2 inhibitor with anti-inflammatory, analgesic, and antipyretic effects used to treat pain and inflammation in rheumatic diseases and osteoarthritis.
As per 2015 data of CDC, approximately 15 million adults reported severe joint pain due to arthritis. This rising cases of inflammatory joints need to be addressed by the superior treatment option.
Meloxicam is one of the promising drug for the treatment of joint pain due to arthritis and mainly effective in low therapeutic doses as compared to other drugs of the same class. It is one of the top-selling molecules in its therapeutic group and originally developed by the Boehringer Ingelheim. Currenlty, U.S FDA has approved several generic versions of meloxicam.
COVID-19 outbreak in December 2019, has affected the global economy that halted the operations of various enterprises and manufacturing facilities. Considerable reduction in the physician’s office visits is expected to evidence upside down growth of the global meloxicam market.
The business across the world has encountered labor shortage, a lack of raw material, break on transportation which is projected to show short-term negative impact on the growth of meloxicam market during the forecast period.
Increase in prevalence of inflammatory diseases is expected to boost the growth of the meloxicam market. Well –established safety anf better efficacy in contrast to other drugs in the class is projected to anticipate high demand of meloxicam in the market. Modification and launch of new dosage forms is expected to rise the treatment adoption rate of meloxicam in the meloxicam market.
Regional players are expected to dominate the market share owing to effective regulatory compliances and adoption of changes. However, availability of other drugs and poor access to healthcare is expected to hamper the future growth of the market. Launch of generic versions in the market is anticipated to lower the prices in the market.
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The global meloxicam market growth may rise at a substantial rate during the forecast period owing to rise in prevalence of arthritis worldwide. By dosage form, tablet segment is expected to hold the largest revenue share in the market.
Oral route of administration is expected to lead the global market owing to convenience to administered and low cost of the product. By indication, rheumatoid arthritis will be expected to dominate the global meloxicam market. Hospital pharmacies is projected to lead the global market.
North America is expected to dominate the meloxicam market during the forecast period owing to high diagnosis and treatment adoption rate in the region. Europe is the second lucrative region in the global market due to rise in aging population in the region with arthritis cases.
India and China are expected as a significant markets in the Asia-Pacific regions owing to sharp increase in the patient population. Other regions like Latin America and Middle East and Africa are poorly developed markets and expected to remain least lucrative during the forecast period.
The major players contributing in meloxicam market are Sanofi SA, Boehringer Ingelheim, Teva Pharmaceuticals, Cipla Ltd., Dr. Reddys Laboratories, Lupin Pharmaceuticals, Aurobindo Pharma, Glenmark Pharmaceuticals, Unichem Pharmaceuticals, Baudax, Perrigo, Rekro Pharma, Iroko Pharma, Zyla Life Science, Axsome Therapeutics, Orbis Biosciences, Cellix Bio, Ligand Pharma, Heron Therapeutics, Pacira BioSciences, Eurofarma Laboratorio, TerSera Therapeutics, Breckenridge Pharmaceutical, Zydus, Strides Pharma, and others.
The research report on meloxicam market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report on market provides analysis and information according to market segments such as forms, route of administrations, and distribution channels.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.