Lidocaine Hydrochloride Market - Forecast(2024 - 2030)

Lidocaine Hydrochloride Market Report Coverage:

The report: “Lidocaine Hydrochloride Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Lidocaine Hydrochloride Market.

By Form: Topical and Injectables.
By Application: Uneven Heart Beating, Mucous Membrane Hitches, Cancer, Dental Operations, Skin Scratches, Other Surgeries, and Operations.
By Distribution Channel: Hospital, Ambulatory Surgical Centers, Retail Pharmacies, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways:

• Geographically, the North America Lidocaine Hydrochloride Market accounted for the highest revenue share in 2021. However, Asia-Pacific is poised to dominate the market over the period 2022-2027 owing to the rise in acute and chronic illnesses ascribing to elevating the old-age population.

• The heightening prevalence of cancer cases and dental hitches is driving the Lidocaine Hydrochloride Market report. However, several side effects allied with Lidocaine are one of the major factors that are said to reduce the growth of the Lidocaine Hydrochloride Market.

• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Lidocaine Hydrochloride Market report.
  
  

  Lidocaine Hydrochloride Market- Geography (%)

  

Lidocaine Hydrochloride Market Segment Analysis-By Application

The Lidocaine Hydrochloride Market based on the application type can be further segmented into uneven heart beating (=Stokes-Adams Syndrome), mucous membrane hitches, chemotherapy, Dental Operations, Skin scratches, other surgeries, and operations. The dental operations segment held the largest share in 2021 owing to the factors such as across the board use of Xylocaine in dental procedures such as surgeries.

Moreover, the Cancer segment is estimated to be the fastest growing with a CAGR of 10.8% over the forecast period 2022-2027. It is owing to the surge in the number of cancer patients around the globe, and the rising clinical research pertaining to the use of lidocaine in relieving numbness, tingling, and other symptoms of neuropathy. In 2020, an estimated 1.9 million cancer cases were diagnosed in the USA. Similarly, other regions have been proliferating growing.

Lidocaine Hydrochloride Market Segment Analysis-By Distribution Channel

The Lidocaine Hydrochloride Market based on the Distribution Channel Type can be further segmented into hospitals, Health Centers, Retail pharmacies, and others. The hospital pharmacy segment held the largest share owing to the factors such as widescale use in various operation procedures by doctors, the prevalence of a variety of cancer sicknesses stimulating the necessity of procedures such as insertion of catheters in patient’s body.

However, the Retail Pharmacies segment is estimated to be the fastest-growing segment with a CAGR of 10.9% over the period 2022-2027. Independent pharmacies have been growing in numbers, as in the last decade within the US, around 12% registered within the following segment. It is owing to the rising influence of government and private bodies to provide finance and other facilities which ultimately result in growth.

Lidocaine Hydrochloride Market Segment Analysis-By Geography

The Lidocaine Hydrochloride based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the overall market in 2021. The growth in this segment is owing to the factors such as enlarging rates of acute and chronic maladies, several dental complications ascribing to increasing trends of confectioneries among the general American public especially children, broadening prevalence of cancer and seizure disorders.

However, Asia-Pacific is estimated to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to proliferating old-age population across the Asian continent which is intensifying the occurrence of ailments such as the improper beating of the heart, cancer, and urethritis. On the other hand, the GDPs of Asian nations are prospering which ultimately ensuing more financing from the government into research and development. The share of the population aged 65 years and over is expected to increase by nearly two and half times in lower-middle- and low-income Asia-Pacific countries in the next decades to reach.

Lidocaine Hydrochloride Market Drivers

Augmenting sicknesses is Projected to Drive Market Growth. 

Trends of using local anesthetics such as lidocaine have elevated in recent years with augmentation in acute and chronic health abnormalities. Also, the pervasiveness of cancer and deaths attributed to cancer are elevating. According to a WHO study around 1/4th to 1/5th deaths from cancer ascribing to smoking, alcohol and drugs intake, poor working out habits especially, In the North American continent. In 2021 around 1.8 to 1.9 million cases of cancer are anticipated to prevail in the US. Besides that, approximately 300 thousand ductal carcinomas were found in the US in starting months of the year 2021.

Elevating government spending on research and development is Expected to Boost Product Demand.

As the existence of health complications is broadening healthcare sector is on the top of the governments' priority list. Governments have proliferated the activities of refining their respective country’s healthcare infrastructure. Developing countries are allocating a glut of funds to research and development activities. India raised its total healthcare spending by 137% in 2021. US healthcare spending is assessed to cross the $6 trillion in foreseeable future. On the other hand, heightening contributions to international health organizations such as WHO are stimulating additional efforts into the research field.

Lidocaine Hydrochloride Market Challenges

Health side effects attributed to Lidocaine are Anticipated to Hamper Market Growth.

Even though the demand for anesthetic is shooting up but one factor which is anticipated to strangle the growth of the Lidocaine Hydrochloride Market is many side effects associated with the use of lidocaine as an anesthetic. Hypotension, Nausea (= abrupt impulse to vomit), Tenderness, giddiness, acute dementia, seizures, and arrhythmia are several aftereffects of lidocaine. In addition to that, an overdose of lidocaine can set serious cardiac arrests such as stoppage of breathing, and comma in motion.

Lidocaine Hydrochloride Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Lidocaine Hydrochloride top 10 companies include:

1. Perkin
2. Pfizer
3. SCILEX Pharmaceuticals, Inc.
4. PENTAX medical
5. Endomed system
6. Nortec Qumica
7. Hisamitsu Pharmaceutical
8. KARL STORZ
9. Cirondrugs
10. Merck KGaA

Recent Developments

• October 13, 2021, Generic topical and injectable manufacturer “Teligent Pharma” recalled a lot of its topical lidocaine hydrochloride 4% containing many anesthetic agents ascribing to excessive potency because it might lead to an overdose of the drug and can set several health complications in motion. This isn’t the first manufacturing-related snafu Teligent has faced in recent years. The recall notice comes nearly two years after federal regulators reprimanded the specialty generic pharmaceutical company for taking its skin med to market despite multiple failed out of stability tests. 

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