Lidocaine Market Size is projected to reach USD 3.05 Billion by 2029, growing at a CAGR of 8.45%: Straits Research

New York, United States, July 18, 2022 (GLOBE NEWSWIRE) — By 2029, the Global Lidocaine Market is expected to reach USD 3,058.92 million. The rising prevalence of periodontal diseases, increasing use of lidocaine in dental procedures, rising minimally invasive surgical techniques, increasing adoption of preventive healthcare solutions, increasing demand for cosmetic procedures, growing health awareness, and the expanding use of the product as an anti-itching, pain relief drug to treat minor cuts, skin scrapes, burns, and insect bites have all boosted the demand for lidocaine.

It is used as a medication to numb a specific body area to minimize pain and discomfort caused by operations or other invasive medical procedures in medical practice. For anesthetic, both injectable and topical forms can be employed.

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Dermatologists utilize topical anesthetics to reduce pain associated with several cutaneous operations, such as soft tissue augmentation, laser surgery, and other cosmetic/corrective medical-surgical treatments. As a result, cosmetic surgeries are driving the demand for market products.

Lidocaine hydrochloride injectable solution is being used increasingly in dental surgical treatments. This, together with an increase in the number of dental disorders and chronic and acute pain related to dental procedures, is likely to propel the market further.

According to the World Health Organization, roughly 3.5 billion people were impacted by oral disorders in 2020. Furthermore, 2.3 billion people are predicted to have incurable dental decay. Thus, expanding the interest of lidocaine in various surgical operations supports the market development. 

Ointments’ Segment Accounts for the Fastest Market Growth

Based on formulation, the Global Lidocaine Market is segmented into injections, creams, ointments, gels, aerosol liquids, etc.

When used for a nerve block or local anesthesia, lidocaine begins to work within minutes and lasts for around half an hour to three hours. As a result, lidocaine has an advantage over other slow-acting anesthetics on the market.

A 2% solution with 1:100,000 epinephrine is the most optimal administration for regular dental use. However, the drug is also available as a simple solution or in multidose vials with 1:50,000 epinephrine. Although its 2% with vasoconstrictor provides adequate dental anesthesia in most circumstances, it has occasionally failed to relieve pain from extremely sensitive teeth.

Lidocaine hydrochloride is available in many different forms, including a 2% viscous solution, a 2% gel, a 4% solution, and a 10% topical spray. Lidocaine base comes as a 5%, 2.5%, and 10% solution and ointment, as well as a 10% aerosol spray. A mucosal patch with 46.1 mg of lidocaine is also available, approximately 2 cm long by 1 cm wide.

In addition, during the projected period, the ointments section is expected to expand the most. This is because lidocaine ointments are becoming increasingly popular as cosmetic surgery products. 

Impact of Covid-19

The pandemic of COVID-19 is expected to increase the demand for lidocaine. Due to the market’s research and development, demand is expected to rise. 

In January 2021, for example, a study was conducted to investigate the impact of intravenous lidocaine on clinical outcomes of patients with Acute Respiratory Distress Syndrome ARDS during the COVID-19 pandemic, according to an article published by the United States National Library of Medicine. The goal of the study was to see how intravenous lidocaine affected inflammation and gas exchange in patients with acute respiratory distress syndrome (ARDS) caused by COVID-19 pneumonia or not. As a result, the demand for lidocaine rises, propelling the market forward.

The growing infection rate has affected various businesses, individuals, governments, and preventive measures. This significantly affected financial markets, broader economies, and the overall demand for market products.

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Regional Insights

The global market has been segregated into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The market is classified into regional segments for enabling a deeper analysis of the market from a region-specific perspective.

In 2020, the Americas had the highest share of the worldwide market and were the leading revenue generator. It’s due to the rise in the number of cosmetic and dental surgical procedures and growth in epilepsy cases. For instance, as per the Epilepsy Foundation, the average incidence of epilepsy is predicted to be 150,000 or 48 for every 100,000 people each year in the US. Further, it added that 2.2 million people, or 7.1 for every 1,000 people, is an estimated range of people living with epilepsy using prevalence numbers.

Asia-Pacific is predicted to develop at the fastest rate in the global lidocaine market. It’s because of the growing elderly population, rising number of general surgeries, expanding government activities, and increasing healthcare expenditure and growth in plastic and cosmetic surgeries. 

Key Highlights

• The global lidocaine market was valued at USD 1,482.78 million in 2020 and is expected to reach a market valuation of USD 3,058.92 million by 2029.
• Based on formulation, the Global Lidocaine Market is segmented into injections, creams, ointments, gels, aerosol liquids, etc.
• The growing infection rate has affected various businesses, individuals, governments, and preventive measures. This significantly affected financial markets, broader economies, and the overall demand for market products.
• Asia-Pacific is predicted to develop at the fastest rate in the global lidocaine market.
• The market is saturated by many key players such as Teligent, Laborie, AstraZeneca etc.

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List of Top Lidocaine Market Companies

• Teligent
• Laborie
• AstraZeneca
• Fujifilm Holdings Corporation
• Glenmark Pharmaceutical Limited

Global Lidocaine Market: Segmentation

By Formulation:

• Injections
• Creams
• Ointments
• Gels
• Others

By Application:

• Dentistry
• Cardiac Arrhythmia
• Epilepsy
• Cosmetic Surgery
• General Surgery
• Others

By Distribution Channels:

• Hospitals Outlets
• Retail Pharmacies
• Others

By Regions:

• Americas
• Asia-Pacific
• Europe
• MEA

TABLE OF CONTENT
1          Introduction
1.1      Market Definition
1.2      Market Scope
2          Research Methodology
2.1      Primary Research
2.2      Research Methodology
2.3      Assumptions & Exclusions
2.4      Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1      Report Segmentation & Scope
4.2      Value Chain Analysis: Lidocaine Market
4.2.1  Vendor Matrix
4.3      Key Market Trends
4.3.1  Drivers
4.3.2  Restraints
4.3.3  Opportunities
4.4      Porter’s Five Forces Analysis
4.4.1  Bargaining Power of Suppliers
4.4.2  Bargaining Power of Buyers
4.4.3  Threat of Substitution
4.4.4  Threat of New Entrants
4.4.5  Competitive Rivalry
4.5      Environment & Regulatory Landscape
4.6      Forecast Factors & Relevance of Impact
4.7      Macro-Economic & Geopolitical Scenario
4.8      Parent Market Overview
4.9      Technology Landscape
4.10   Market Share Analysis
4.11   Potential Venture Analysis
4.12   Regional Price Trends
4.13   Raw Material Trends
4.14   Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15   Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1        North America
4.15.4.2        Europe
4.15.4.3        Asia-Pacific
4.15.4.4        Central and South America and the Caribbean
4.15.4.5        The Middle East and Africa
5               Formulation Overview
5.1      Introduction
5.1.1  Market Size & Forecast (Value & Volume)
5.2      Injections
5.2.1  Market Size & Forecast (Value & Volume)
5.3      Creams
5.3.1  Market Size & Forecast (Value & Volume)
5.4      Ointments
5.4.1  Market Size & Forecast (Value & Volume)
5.5      Gels
5.5.1  Market Size & Forecast (Value & Volume)
5.6      Others
5.6.1  Market Size & Forecast (Value & Volume)
6               Application Overview
6.1      Introduction
6.1.1  Market Size & Forecast (Value & Volume)
6.2      Dentistry
6.2.1  Market Size & Forecast (Value & Volume)
6.3      Cardiac Arrhythmia
6.3.1  Market Size & Forecast (Value & Volume)
6.4      Epilepsy
6.4.1  Market Size & Forecast (Value & Volume)
6.5      Cosmetic Surgery
6.5.1  Market Size & Forecast (Value & Volume)
6.6      General Surgery
6.6.1  Market Size & Forecast (Value & Volume)
6.7      Others
6.7.1  Market Size & Forecast (Value & Volume)
7               Distribution Channels Overview
7.1      Introduction
7.1.1  Market Size & Forecast (Value & Volume)
7.2      Hospitals Outlets
7.2.1  Market Size & Forecast (Value & Volume)
7.3      Retail Pharmacies
7.3.1  Market Size & Forecast (Value & Volume)
7.4      Others
7.4.1  Market Size & Forecast (Value & Volume)
8             Regional Overview
8.1      Introduction
8.1.1  Market Size & Forecast (Value & Volume)
8.2      North America
8.2.1  Economic Overview
8.2.2  Market Scenario
8.2.3  U.S.
8.2.4  Canada
8.2.5  Mexico
8.3      Central and South America and the Caribbean
8.3.1  Economic Overview
8.3.2  Market Scenario
8.3.3  Brazil
8.3.4  Argentina
8.3.5  Colombia
8.3.6  Rest of Central and South America and the Caribbean
8.4      Europe
8.4.1  Economic Overview
8.4.2  Market Scenario
8.4.3  Germany
8.4.4  France
8.4.5  The U.K.
8.4.6  Italy
8.4.7  The Rest Of Europe
8.5      Asia-Pacific (APAC)
8.5.1  Economic Overview
8.5.2  Market Scenario
8.5.3  China
8.5.4  Japan
8.5.5  India
8.5.6  Australia
8.5.7  South Korea
8.5.8  Rest Of APAC
8.6      Middle East
8.6.1  Economic Overview
8.6.2  Market Scenario
8.6.3  South Arabia
8.6.4  The UAE
8.6.5  Qatar
8.6.6  Oman
8.6.7  Turkey
8.6.8  The Rest Of Middle East
8.7      Africa
8.7.1  Economic Overview
8.7.2  Market Scenario
8.7.3  Nigeria
8.7.4  South Africa
8.7.5  The Rest Of Africa
9          Competitive Landscape — Manufacturers & Suppliers
9.1      Competition Dashboard
9.2      Industry Structure
9.3      Teligent
9.3.1  Business Overview
9.3.2  Financial Performance
9.3.3  Recent Developments
9.3.4  Portfolio
9.4      Laborie
9.5      AstraZeneca
9.6      Fujifilm Holdings Corporation
9.7      Glenmark Pharmaceutical Limited
10       Conclusion & Recommendation
11       Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/lidocaine-market/toc

Market News:

• In February 2016, Teligent announced FDA Approval of Lidocaine Ointment USP 5%. The approval is anticipated to increase the revenue of the company.
• In July 2018, Teligent announced FDA approval of Prilocaine Cream USP and Lidocaine 5%/2.5%. The approval is anticipated to increase the revenue of the company.

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