Lidocaine Patches Market to Surpass US$1,926.8 Million at a CAGR of 7.8% by 2030 | Endo International plc, Teva Pharmaceutical Industries Ltd, Viatris Inc.


Insight:

The local anesthetic drug category includes lidocaine. In order to decrease the discomfort and itching associated with specific skin disorders, licocaine patches are adhesive preparations. Transdermal patches containing lidocaine that are prescribed for postherpetic 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 thighs. legs.

The global lidocaine patches market is expected to reach US$1,055.6 million in 2022 and grow at a CAGR of 7.8% over the forecast period.

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Market factors:

Market players are focusing on the investments in the creation of generic patches owing to the growing demand, which is expected to fuel the growth of the global lidocaine patches market over the forecast period. For example, Mylan produces the generic version of Lidoderm from Endo Pharmaceutical. Additionally, opportunities are anticipated to arise in the market as major players turn their attention to improving the presence of lidocaine patch products in growing countries in Asia-Pacific, America Latin America and the Middle East to serve untapped markets. For example, online 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.

The increasing adoption of more inorganic growth strategies by market players is expected to propel the market growth for the global lidocaine patches market over 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 license agreement with Link Health Group LTD, a leading Chinese pharmaceutical company, to develop, market, sell and distribute TPU’s lead product, Lidoderm, in China. Lidoderm provides post-herpetic neuralgic (PHN) pain relief. It is a blend of lidocaine in a soft hydrogel dressing that combines effective treatment with established tolerance, safety and ease of use.

Impact of the coronavirus pandemic (COVID-19)

The coronavirus outbreak that started in China has impacted over 100 countries around the world and caused disruption across many industries.

The development of lidocaine patches 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 problems is the supply of raw materials needed to manufacture drug formulations.

Key points to remember:

  • The Global lidocaine patches market is expected to exhibit a CAGR of 7.8% over the forecast period. This is due to people’s growing awareness of new pain management products.
  • Others (10%, 20%, etc.) segment among the strengths is estimated to witness robust growth in the global lidocaine patches market during the forecast period. The demand for the product is expected to fuel the growth of the global lidocaine patches market over the forecast period. This is because the quality of transdermal patches is influenced by the minimum adhesion rate. For example, the Ztlido 1.8% Topical Lidocaine Delivery System from Sorrento Therapeutics, Inc. promotes sustained drug delivery and maximum skin contact.
  • The non-aqueous segment in terms of adhesive types is expected to be the highest CAGR in the global lidocaine patches market during the forecast period. After a prolonged fixation time, the non-aqueous patch with low concentration of lidocaine does not lead to aberrant skin penetration or an abrupt increase in blood levels. Additionally, the segment is expected to grow due to the safe and successful use of non-aqueous patches in the treatment of muscle discomfort.
  • The pain indications segment is expected to witness the highest CAGR of the global lidocaine patches market during the forecast period. Major market players stand a significant chance to expand their presence, expand patch indications and introduce additional products owing to the restricted options of lidocaine patches for pain treatment.
  • The retail pharmacy segment among distribution channels is expected to have the highest CAGR of all distribution channels in the global lidocaine patches market during the forecast period. Retail pharmacies offering both over-the-counter and prescription lidocaine patches are expected to propel the segment growth in the global lidocaine patches market over the forecast period.
  • North America is expected to witness substantial growth and significant market share in the global lidocaine patches market over the forecast period. This is due to the rapid licensing of lidocaine patches.

Key players:

Sanofi SA, 6iPain Healthcare Private Limited, Rhodes Pharmaceuticals LP, Amneal Pharmaceuticals, Galen Limited, Sorrento Therapeutics, Hisamitsu Pharmaceuticals Co. Inc., Teikoku Pharma USA, Viatris Inc., Teva Pharmaceutical Industries Ltd and Endo International plc are key market players.

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Contents

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Scope of research
1.4 Market Analysis by Regions
1.5 Lidocaine Patches Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Impact on Lidocaine Patches Industry

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

chapter 3 Generation 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 Analysis of the lidocaine patch market in North America
Chapter 6 Analysis of the lidocaine patch market in East Asia
Chapter 7 Market analysis of lidocaine patches in Europe
Chapter 8 Analysis of the lidocaine patches market in South Asia
Chapter 9 Analysis of the lidocaine patches market in Southeast Asia
Chapter 10 Analysis of the lidocaine patch market in the Middle East
Chapter 11 Africa lidocaine patch market analysis
Chapter 12 Analysis of the lidocaine patch market in Oceania
Chapter 13 Analysis of the lidocaine patches market in South America
Chapter 14 Company Profiles and Key Figures of Lidocaine Patches Business
Chapter 15 Global Lidocaine Patches Market Forecast (2022-2028)
Chapter 16 conclusion
Research Methodology

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