Lidocaine comes from the family of medicines called local anesthetics. This medicine checks the sensation of pain by obstructing the signal passages at the endings of the nerve present in the skin. Lidocaine is a topical jelly, is an anesthetic agent helps in causing numbness or loss of feeling for patients in areas affected by sunburn, insect bites or stings, itching, poison ivy, poison oak, poison sumac, minor cuts, or scratches. It is also used in treatment for relieving pain at the time of surgery. Lidocaine is considered a very common element in topical medications that aids in minimizing pain; an amount of 5% lidocaine of topical form helps in causing numbness to skin before tattooing and afterwards to give a healing effect. The most common form of concentrated topical lidocaine is 5%. Generally, the medication of lidocaine is applied in places of itching of the patient and in curing any further itching tendencies.
Globally, the market for Lidocaine ointment is predicted to be priced at US$ 1,275.2 Mn in the year 2022 and is anticipated to show a CAGR of 7.7% in the predicted period from 2022 to 2030.
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Global Lidocaine Ointment Market Drivers:
Lidocaine is needed for many purposes. Lidocaine finds its usage in treatment of minor burns, insect bites and scratches. It prevents and treats pain at the time of carrying out some surgeries in cosmetics or dental, which is anticipated to push the growth of the market in the predicted period. Therefore, the rising incidence of the surgeries is anticipated to push the market the growth of the market in the predicted period. For example, in April 2022, as per data given by the American Society for Aesthetic Plastic Surgery, 44% increase was noticed in non-surgical procedures in comparison to 2020. Furthermore, surgical procedures was raised by 54% in the year 2021 and the plastic surgeons in U.S on an average made 320 surgeries in the year 2021 in comparison to 220 of the year 2020
Rise in advancement of technological activity for preparation of lidocaine ointment is anticipated to push the growth of the market in the predicted period. For example, as per an article issued by the National Library of Medicine in September 2021, glycerol monostearate (GMS) of 5% concentration aids in deep penetration of lidocaine into the dermis. The lidocaine is released from the ointment by the facilitation of the self-nanoemulsifying effect of GMS.
Global Lidocaine Ointment Market – Impact of Coronavirus (COVID-19) Pandemic
The pandemic Coronavirus (COVID-19) is highly infectious and communicable disease which is caused by the SARS-CoV-2 or the severe acute respiratory syndrome coronavirus 2. As per the WHO (World Health Organization), dated 10th October, 2022, the total number of affected people across the world is 44,614,437.
The impact of COVID-19 was huge and it was able to create opportunities for the growth of the market of lidocaine ointment worldwide, due to the usage of lidocaine ointment for treating COVID-19 and its associated symptoms. For example, as per an article issued on September 2022, in the Journal of Cardiovascular Development and Disease, dysrhythmias owing to SARS-CoV-2 infection show high-grade blockage of atrioventricular, ventricular tachycardia, and atrial fibrillation. The mortality rate among COVID-19 patients was because of the cardiac movement with early ventricular tightening and pulseless electrical activity. Therefore, rising need for lidocaine ointment among the patients with COVID-19 infections owing to the COVID-19 pandemic is anticipated to push the growth of the market of lidocaine ointment worldwide.
As per an article issued in November 2020, by the Best Practice & research Clinical Anesthesiology Journal, healthcare facilities across the world were very badly affected owing to the COVID-19 pandemic. Medical equipment like, sanitizing supplies, personal protective equipment (PPE) for healthcare workers, hospitals equipment, toilet paper, and water were in deficit. Moreover, from the same source it was stated that the economy in India, mainly the companies engaged in manufacturing of healthcare product and the service sectors were adversely affected owing to the lockdowns in the nations at the time of COVID-19 pandemic.
Global Lidocaine Ointment Market: Key Developments
A pharmaceutical company, named, Alembic Pharmaceuticals Limited in April 2022 declared that its secondary Aleor Dermaceuticals Limited had established final approval from the USFDA (U.S.Food and Drug Administration) ANDA (Abbreviated Marketing Authorization Application) Lidocaine and Prilocaine Cream USP, 2.5%. Lidocaine is showed as anesthetic used locally for its usage on normal intact skin for relevant numbness and genital mucosa as in vaginal mucosa as a pretreatment for artificial slight involvements and insinuation anesthesia.
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Global Lidocaine Ointment Market: Restraint
The main aspects that hinder the market growth of the lidocaine ointment worldwide in the predicted period are side effects of the product, recall of the product, and the restrictions imposed by the government to regulate the safety and the efficiency of lidocaine ointment. For example, as per an article issued by Mayo Clinic in June 2022, lidocaine ointment had several aftereffects like fever, cough, fast heartbeat, cough, and cracked, dry or scaly skin.
Global Lidocaine Ointment Market: Key Players
The main companies participating in the market for lidocaine ointment are Glenmark Pharmaceuticals U.S. Inc., Teligent Inc., Taro Pharmaceutical Industries Ltd., CENTURA PHARMACEUTICALS INC., Neon Laboratories Ltd., ASTRAZENECA CANADA INC., Novocol Pharma, Amneal Pharmaceuticals LLC., Alembic Pharmaceuticals Limited, Ascend Laboratories LLC, Liberty Pharmaceuticals, Inc., Hi-Tech Pharmaceuticals, Aspen Pharmacare Australia Pty Ltd., Sandoz AG, Zydus Healthcare Limited., Quagen Pharmaceuticals, Zuche Pharmaceuticals Private Limited., and SEPTODONT, Inc.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Lidocaine Ointment Market Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Lidocaine Ointment Market Industry Impact
Chapter 2 Global Lidocaine Ointment Market Competition by Types, Applications, and Top Regions and Countries
2.1 Global Lidocaine Ointment Market (Volume and Value) by Type
2.3 Global Lidocaine Ointment Market (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 Ointment Market Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Lidocaine Ointment Market Market Analysis
Chapter 6 East Asia Lidocaine Ointment Market Market Analysis
Chapter 7 Europe Lidocaine Ointment Market Market Analysis
Chapter 8 South Asia Lidocaine Ointment Market Market Analysis
Chapter 9 Southeast Asia Lidocaine Ointment Market Market Analysis
Chapter 10 Middle East Lidocaine Ointment Market Market Analysis
Chapter 11 Africa Lidocaine Ointment Market Market Analysis
Chapter 12 Oceania Lidocaine Ointment Market Market Analysis
Chapter 13 South America Lidocaine Ointment Market Market Analysis
Chapter 14 Company Profiles and Key Figures in Lidocaine Ointment Market Business
Chapter 15 Global Lidocaine Ointment Market Market Forecast (2023-2030)
Chapter 16 Conclusions
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