Final answer:
The compound is acetylsalicylic acid, also known as aspirin, and is used to treat pain, fevers, and inflammation, with a significant history of use and high consumption rates in the U.S.
Step-by-step explanation:
The highly effective analgesic and antipyretic compound introduced in 1889 that is still used today is acetylsalicylic acid, commonly known as aspirin. This medication is widely used to treat pain, fevers, and inflammation. Its use dates back to ancient times when the leaves from the willow tree, containing a form of salicylic acid, were utilized for their health effects. Aspirin is considered a prototype in the class of drugs known as nonsteroidal anti-inflammatory drugs (NSAIDs), which share similar therapeutic actions and side effects, though acetaminophen, another analgesic, is only weakly anti-inflammatory compared to aspirin. In the U.S., an estimated 10 to 20 thousand tons of aspirin are consumed annually, making it a widely accepted and popular medication for pain and fever relief.