Overview:
The medication category of local anaesthetic includes lidocaine. In order to lessen the discomfort and itching associated with specific skin disorders, licocaine patches are adhesive preparations. The transdermal patches containing lidocaine that are prescribed for post-herpetic neuralgia relief include Ztildo, Lidoderm and Dermalid. However, non-prescription lidocaine patches, such as Aspercreme, Salonpas Absorbine Jr. and Lidocare, among others, are offered to adults and children 12 years of age and older to treat minor discomfort in the shoulders, arms, neck, and legs.
The global lidocaine patches market is anticipated to reach US$ 1,055.6 Million in 2022 and show a CAGR of 7.8% over the forecast period.
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Market drivers:
Market players are focusing on investment in creating generic patches due to growing demand, which is expected to fuel growth of the global lidocaine patches market during the forecast period. For instance, Mylan produces the generic version of Lidoderm from Endo Pharmaceutical. Furthermore, it is anticipated that opportunities would arise in the market as key players raise their attention on enhancing the presence of lidocaine patch products in growing nations in the Asia Pacific, Latin America, and Middle East to serve to the untapped markets. For instance, internet pharmacies in India sell products made by Hisamitsu Pharmaceuticals Co. Inc., Sorrento Therapeutics, Inc., such as SALONPAS LIDOCAINE PAIN RELIEVING 4%, Ztlido, and Aspercreme Lidocaine Patches.
Growing adoption of more inorganic growth strategies by the market players is expected to propel market growth for the global lidocaine patches market during the forecast period. For example, Teikoku Pharma USA Inc. (TPU), a division of Teikoku Seiyaku Co., LTD. of Japan, announced in May 2018 that it had entered into an exclusive licence agreement with Link Health Group LTD, a leading Chinese pharmaceutical company, to develop, market, sell, and distribute TPU’s flagship product, Lidoderm, in China. Lidoderm provides post-herpetic neuralgia pain alleviation (PHN). It is a mixture of lidocaine in a soft hydrogel plaster that combines effective treatment with established tolerability, safety, and ease of use.
Impact of Coronavirus (COVID-19) Pandemic
The coronavirus outbreak that started in China had an effect on more than 100 countries worldwide and caused disruptions in numerous industries.
Lidocaine patch development has been impacted by COVID-19. The pandemic’s limited supply of lidocaine patches was caused by the emergence of COVID-19. Due to transportation anomalies, one of the main issues is the supply of raw materials needed to manufacture medicine formulations.
Key Takeaways:
- The global lidocaine patches market is estimated to demonstrate a CAGR of 7.8% over the forecast period. It is due to growing awareness among people about new pain management products.
- Others (10%, 20%, etc.) segment among strength is estimated to witness robust growth in the global lidocaine patches market during forecast period. The demand for the product is likely to fuel growth of the global lidocaine patches market during the forecast period. It is due to quality of transdermal patches is influenced by minimum adhesion rate. For instance, Sorrento Therapeutics, Inc.’s Ztlido 1.8% lidocaine topical administration system promotes sustained medication delivery and maximum skin contact.
- The non-aqueous segment in terms of adhesive types is expected highest CAGR in the global lidocaine patches market during the forecast period. After a protracted time of attachment, the non-aqueous patch with a low lidocaine concentration does not result in aberrant skin penetration or a sharp rise in blood levels. Furthermore, it is anticipated that the segment would rise due to the safe and successful usage of non-aqueous patches in the treatment of muscle discomfort.
- The segment for pain indications is anticipated to experience the greatest CAGR in the global lidocaine patches market over the of the forecast period. Major market players have a significant chance to develop their presence, broaden the indications for patches, and introduce additional products as a result of the restricted options for lidocaine patches for treating pain.
- Retail pharmacies segment among distribution channel are predicted to have the highest CAGR of all the distribution channels in the global lidocaine patches market over the of the forecast period. Retail pharmacies carrying both OTC and prescription-based lidocaine patches is expected to propel the segment’s growth in the global lidocaine patches market over the of the forecast period.
- North America is anticipated to witness substantial growth and major market share in the global lidocaine patches market over the of the forecast period. It is due to rapid licensing of lidocaine patch products.
Key players:
Sanofi S.A, 6iPain Healthcare Private Limited, Rhodes Pharmaceuticals L.P, Amneal Pharmaceuticals, Galen Limited, Sorrento Therapeutics, Hisamitsu Pharmaceuticals Co. Inc., Teikoku Pharma USA, Viatris Inc., Teva Pharmaceutical Industries Ltd, and Endo International plc are some key players of market.
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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 Lidocaine Patches Market Size Analysis from 2022 to 2028
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 (2017-2022)
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 (2022-2028)
Chapter 16 Conclusions
Research Methodology
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