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Lidocaine Patches Market 2021 – Increasing incidence of the shingles is expected to fuel growth of the market during the forecast period

September 20th, 2021 Coherent Market Insights Releases

Lidocaine is an aminoethylamide local and topical anesthetic medication, which caused numbness or loss of sensation in the area of application and is mainly used to relive pain by blocking the voltage-gated sodium channels of nerve membranes, thereby preventing the generation and conduction of nerve impulses and providing analgesic relief. Lidocaine patch 5% comprises a soft, stretchy adhesive patch containing 5% lidocaine for the topical treatment of pain associated with Post Herpetic Neuralgia (PHN). The first FDA-approved transdermal lidocaine patch was Lidoderm, in 1999, by Endo Pharmaceuticals Inc. Moreover, rising incidence of neck pain and back pain is the major factors fueling the growth of the market. On the other hand, availability of alternatives for the pain management such as other pain killer drugs are expected to hamper the growth of the lidocaine patches market growth.

Get Your Sample Copy of the Lidocaine Patches Market Report 2021

Lidocaine Patches Market Dynamics

Growing number of generic approved product in the market are expected to augment the lidocaine patches market growth. Patent expiry of Endo Pharmaceuticals for Lidoderm is expected to offer lucrative growth opportunity for market players to develop generic version of the lidocaine patch. For instance, in 2015, Mylan Pharmaceuticals, Inc., launched the generic version of Endo Pharmaceutical’s Lidoderm in the U.S. market. In 2014, Galen US Incorporated receive FDA approval for Synera, lidocaine and tetracaine topical patch for domestic use. Moreover, companies are introducing advanced technologies in lidocaine patches in order to maintain leading position in market, For instance, in 2016, Gregory Pharmaceutical Holdings, Inc. launched Lidocare, which is first and only patch that is water-free. Lidocare is the new over-the-counter/non-prescription lidocaine pain patch and the technology is under the patenting process. In February 2018, Sorrento Therapeutics, Inc., a subsidiary of Scilex Pharmaceuticals Inc., received U.S. FDA approval for ZTlido 1.8%, with the company’s proprietary adhesion technology. Furthermore, companies are also working on clinical trials for expanding the application of lidocaine patch for disease and conditions such as Endo Pharmaceuticals, Inc., is conducting clinical trial for the use of lidocaine patch in osteoarthritis, chronic lower back pains, Carpal Tunnel Syndrome etc.

Rising incidence of the shingles is projected to fuel growth of the lidocaine patches market over the forecast period. Shingles, also known as herpes zoster, which cause chronic pain known as Post Herpetic Neuralgia (PHN) and it can be relieved by applying lidocaine patches. According to Centers for Disease Control and Prevention (CDC), January 2018, an estimated one third of the total U.S. population develops shingles during their lifetime, which suggests nearly 1 million Americans experiences shingles infection annually. Furthermore, CDC estimated that around 10 to 15% people with shingles infection experience PHN.

Buy Now This Premium Report to Grow your Business: https://www.coherentmarketinsights.com/insight/buy-now/1805

Lidocaine Patches Market – Regional Analysis

Regional segmentation of lidocaine patches market by Coherent Market Insights includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America lidocaine patches market holds dominant position, and this can be attributed to rising number of product launches by the regional players and increasing strategic collaborations among market players to introduce their product in regional market. For instance, Galen’s acquisition of Synera patch, a product of Nuvo Research, to commercialize the product in U.S. lidocaine patches market. Furthermore, favorable reimbursement policies in North America for lidocaine patch are supporting the market growth. At the same time, Asia Pacific Lidocaine Patches Market is expected to witness fast growth attributed to increasing incidence of herpes zoster in these region and lack of preventive vaccination against projected to boost the lidocaine patches market growth.

Lidocaine Patches Market – Competitive Analysis

This market is highly fragmented, with the presence of Mylan Pharmaceuticals Inc., Endo Pharmaceutical Inc., Teva Pharmaceutical, Inc., Teikoku Pharma USA, Hisamitsu Pharmaceuticals Co. Inc., Galen US Inc., Sorrento Therapeutics, Inc. and Actavis Labs UT Inc. market players.

Moreover, manufacturers are focused on acquisition of complementary companies to enter the market with advanced products in lidocaine patches. For instance, in 2013, Galen entered into a product acquisition and license agreement with Nuvo Research Inc. pharmaceutical company dedicated to building a portfolio of products for the topical treatment of pain. Acquisition offers exclusive rights to market and sell Nuvo’s Synera patch throughout the U.S. for its current indication. Under these agreement Nuvo Research Inc. will receive royalties of 10% of net sales.

Ask for PDF sample copy of the Lidocaine Patches market report @ https://www.coherentmarketinsights.com/insight/request-sample/1805

Lidocaine Patches Market Taxonomy

Based on strength of active ingredient:

  • 5%
  • 4%
  • Others

Based on adhesive material:

  • Aqueous
  • Non-aqueous

Based on application:

  • Back Pain
  • Neck Pain
  • Shoulder Pain
  • Knees & Elbow Pain
  • Others

Based on end-user:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Based on the region:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East
  • Africa

Main points in Lidocaine Patches Market Report Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Lidocaine Patches Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Lidocaine Patches Industry Impact

Chapter 2 Global Lidocaine Patches Competition by Types, Applications, and Top Regions and Countries
2.1 Global Lidocaine Patches (Volume and Value) by Type
2.3 Global Lidocaine Patches (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Lidocaine Patches Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Lidocaine Patches Market Analysis
Chapter 6 East Asia Lidocaine Patches Market Analysis
Chapter 7 Europe Lidocaine Patches Market Analysis
Chapter 8 South Asia Lidocaine Patches Market Analysis
Chapter 9 Southeast Asia Lidocaine Patches Market Analysis
Chapter 10 Middle East Lidocaine Patches Market Analysis
Chapter 11 Africa Lidocaine Patches Market Analysis
Chapter 12 Oceania Lidocaine Patches Market Analysis
Chapter 13 South America Lidocaine Patches Market Analysis
Chapter 14 Company Profiles and Key Figures in Lidocaine Patches Business
Chapter 15 Global Lidocaine Patches Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
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