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HEALTHCARE & PHARMACEUTICAL

Lidocaine Market Segmentation by Formulation (Injections, Creams, Ointments, Patches, Gels, Aerosol Liquids, and Others); and by Application (Dentistry, Cardiac Arrhythmia, Epilepsy, Cosmetics, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Lidocaine Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·   August 2021- Scilex Holding Company, which is a subsidiary of Sorrento Therapeutics, Inc., announced that ZTlido, 1.8%, a lidocaine topical system, has been added to multiple formularies, including two national PBMs (Pharmacy Benefit Managers), a national health plan and two regional health plans.

·   May 2018- Teikoku Pharma USA Inc. entered into an exclusive license agreement with Link Health Group LTD for the development and distribution of TPU’s flagship product Lidoderm in China.

Global Lidocaine Market Highlights 2022 – 2030

The global lidocaine market is estimated to garner a sizeable revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increase in the number of surgeries, and escalating demand for lidocaine formulations around the world. Along with these, surge in the prevalence of periodontal diseases, such as gingivitis and periodontitis, is expected to augment the sales of the product globally in the forthcoming years. According to the World Health Organization, as of 2020, oral diseases affect nearly 3.5 billion people worldwide. In addition, it is calculated that 2.3 billion people suffer from caries of permanent teeth. Rise in healthcare expenditure and growing population of the elderly across the globe are also crucial factors predicted to lead the expansion of market in the near future. Furthermore, massive investments in research and development in the pharmaceutical sector is projected to offer profitable opportunities to the market in the imminent time.

Lidocaine Market

The market is segmented by application into dentistry, cardiac arrhythmia, epilepsy, cosmetics, and others, out of which, the dentistry segment is anticipated to hold the largest share in the global lidocaine market. This can be accounted to the extensive use of lidocaine hydrochloride injectable in various surgical dental procedures. Apart from this, increasing occurrence of dental disorders, coupled with chronic and acute pain associated with dental procedures are also assessed to bode well for the growth of the market segment. Additionally, on the basis of formulation, the ointments segment is evaluated to occupy the largest share during the forecast period ascribing to the burgeoning usage of lidocaine ointments in cutaneous procedures such as laser surgeries and soft tissue augmentation, and also as cosmetic surgery products.   CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Lidocaine Market Regional Synopsis

On the basis of geographical analysis, the global lidocaine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness the fastest growth over the forecast period on the back of the spiraling number of dental and cosmetic procedures, along with plastic surgeries. In addition, rapid increase in the region’s geriatric population, rise in production of oral care products, and large patient pool are also assessed to drive the region’s market growth in the coming years. Another report by the WHO depicts that the proportion of people aged 60 or above was 9.8% in 2017, and is calculated to increase up to 13.7% and 20.3% by 2030 and by 2050, respectively. Moreover, the market in North America is projected to acquire the largest share during the forecast period owing to the high demand for lidocaine formulations, and rising investments in the healthcare sector, especially in the United States. Apart from these, strong presence of major market players is also evaluated to fuel the progress of market in the region.

Lidocaine Market

The global lidocaine market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global lidocaine market includes the following segments:

By Formulation

  • Injections
  • Creams
  • Ointments
  • Patches
  • Gels
  • Aerosol Liquids
  • Others

By Application

  • Dentistry
  • Cardiac Arrhythmia
  • Epilepsy
  • Cosmetics
  • Others

Growth Drivers

  • Increasing Number of Surgeries Worldwide
  • Surge in the Prevalence of Periodontal Diseases Globally

Challenges

  • Stringent Regulatory Framework Regarding Medical Approval in Several Countries

Top Featured Companies Dominating the Market

  • Pfizer, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Hisamitsu Pharmaceutical Co., Inc.
  • Jiangsu Tianji Pharmaceutical Co. Ltd.
  • Teikoku Pharma USA, Inc.
  • Sorrento Therapeutics, Inc
  • Olympus Corporation
  • Endo Pharmaceutical Inc.
  • Fujifilm Holdings Corporation
  • Actavis Labs UT Inc.
  • Dun & Bradstreet, Inc.

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