Increasing preference toward minimally invasive procedures are some key factors driving market revenue growth.
Increasing preference toward minimally invasive procedures are some key factors driving market revenue growth
The global lidocaine market size is expected to reach USD 1,137.31 Million in 2030 and register a revenue CAGR of 5.8% over the forecast period, according to a latest report by Reports and Data. Lidocaine is a local anesthetic which is a type of amino amide. It is used to reduce pain or discomfort caused by skin irritations such as burns, scratches, minor cuts, insect bites, and sunburns. It is also used for treatment of ventricular tachycardia., It starts working within several minutes and lasts for half an hour to three hours when used for a nerve block or local anesthesia. Therefore, lidocaine market has an advantage over slow-acting anesthetics.
An increase in the number of surgical procedures performed across the world, including dental procedures, cosmetic surgeries, and plastic surgeries, is expected to promote market growth. The global rise in chronic and acute pain-related disorders and various benefits associated with lidocaine are some of the major factors driving market growth.
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Some Key Highlights From the Report
- On the basis of dosage form, lidocaine cream is used on the skin to stop itching and pain from certain skin conditions (e.g., scrapes, minor burns, eczema, insect bites) and to treat minor discomfort and itching caused by hemorrhoids and certain other problems of the genital/anal area (e.g. anal fissures, itching around the vagina/rectum). For instance, according to The National Eczema Association, approximately 31.6 million people in the US have some form of eczema. Furthermore, such creams are also used to decrease discomfort or pain during certain medical procedures/exams (e.g., sigmoidoscopy, cystoscopy). Increasing healthcare expenditure and increasing aging population is driving revenue growth of the segment.
- Lidocaine topical gel or jelly is used on different parts of the body to cause numbness for patients who are to undergo certain medical procedures. It relieves pain and itching caused by conditions such as sunburn or other minor burns, insect bites or stings, poison ivy, minor cuts, and scratches, among others. For example, xylocaine jelly is used to treat painful urethritis (inflammation of the urethra). It is also used to prevent and control pain in procedures involving the male and female urethra. Xylocaine jelly is also used to lubricate the nose, mouth, and throat for intubation. Thus growing adoption of lidocaine jelly because of its benefits offered is projected to drive growth of this segment over the forecast period.
- On the basis of application, lidocaine infusion is precisely operative in releasing the mechanical allodynia and hyperalgesia linked with chronic neuropathic pain. Furthermore, segment growth of neuropathic pain is expected to be driven by growing geriatric population globally. Moreover, increasing prevalence of cancer, approval of novel treatment options for neuropathic pain, and an increase in neuropathic pain treatment are projected to drive lidocaine market over the forecast period.
- Major companies in the market are dedicated toward adopting strategic partnerships to expand their product portfolio. In October 2019, Premier Inc., through its ProvideGx program, partnered with Amphastar Pharmaceuticals, Inc. to supply to healthcare providers phytonadione injection, pre-filled syringes of calcium chloride, epinephrine, sodium bicarbonate, atropine sulfate, dextrose, and lidocaine.
- Major companies in the market report include Amneal Pharmaceuticals Llc, Taro Pharmaceuticals, Teligent, Inc., Endo Pharmaceutical Inc, Sorrento Therapeutics, Amphastar Pharmaceuticals Inc., and Centura Pharmaceuticals, Inc, among others.
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For the purpose of this report, Reports and Data has segmented global lidocaine market on the basis of dosage form, application, distribution channel, route of administration, and region:
Dosage Form Outlook (Revenue in Million USD; 2019–2030)
- Spray
- Patch & Pad
- Gel/Jelly
- Cream & Lotion
- Ointment
- Solution
Application Outlook (Revenue in Million USD; 2019–2030)
- Ventricular Arrhythmias
- Anesthesia
- Gel
- Injection
- Ointment
- Other
- Paracervical Block
- Diabetic Peripheral Neuropathy
- Neuropathic Pain
- Other Applications
Distribution Channel Outlook (Revenue in Million USD; 2019–2030)
- Online
- Company website
- E-commerce website
- Offline
- Direct
- Retail
Route of Administration Outlook (Revenue in Million USD; 2019–2030)
- Topical
- Injectable
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Regional Outlook (Revenue in Million USD; 2019–2030)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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