Global Lidocaine Market, By Indication (Ointments, Injections, Creams, Gels, Aerosol Liquids), By Application (Cardiac Arrhythmia, Dentistry, Cosmetic, Epilepsy, and Others) opportunities and forecast 2020-2027
Lidocaine is medication generally used to numb tissues in specific area. The medication helps to decrease sharp burning pains and discomfort caused by the skin areas that are subtle to touch. It is utmost used as local anaesthetic. It is also used to lessen pain caused bythe skin irritations such as insect bites, sunburn, and minor cuts.
Major drivers for growth of lidocaine market around the globe are growing aging patient population, the rising incidences of dental caries, rising application for lidocaine in dental procedures, and other periodontal diseases. Severe regulatory policies limit the growth of the market over the forecast period. Segment Overview
The promptly increasing aging population over the world is leading to the growth of lidocaine market. With growing age of humans, teeth become incapable of the normal chewing, and aged population suffers from various other serious health issues. The medication is one of the most widely chosen to offer pain-free treatments to the geriatric patients at the time of surgeries and for the other dental treatments.
The older population face some problems after certain age, which includes dental caries, oral cancer, tooth loss, periodontics, arrhythmia, cardiac disorders, and many others. Therefore, the rise in the use of lidocaine to treat the issues is apparent, which would lead to growth of the lidocaine market.Regional Overview
The market, based on region, is been divided into the North America, Europe, the Middle East & Africa and the Asia-Pacific. In the North America, lidocaine market is undergoing tremendous development due to growing R&D activities, increasing number of surgeries, and growing demand for the lidocaine formulations. As per theCenter for Disease Control and Prevention (CDC), total of 14.2 million operational procedures were accomplished in inpatient setting in the U.S. hospitals in the 2014. Furthermore, rising number of cosmetic and plastic surgeries, growing healthcare spending, and the medical tourism in the U.S. is anticipated to boost the market growth in region. According to American Society of Plastic Surgeons, almost 17.5 million cosmetic processes were performed in U.S. in 2017. Thus, the market in region is expected to be largest during the valuation period.
The European market for the lidocaine is anticipated to be second-largest during forecast period. In Europe is anticipated to be driven by growing number of surgical processes in region, high adoption of the lidocaine injections as the local anesthetics at the time of the surgeries, and considerable patient population. According to report published by German Society of Thoracic & Cardiovascular Surgery, total of 103,128 heart surgery processes were carried out in the Germany in 2016. All such factors are expected to boost the growth of market.Competitor overview
In February 2017, the Septodont launched new facility near Paris, to manufacture the injectable dental aesthetic cartridges.
In September 2016, pharmaceutical company Glenmark got Abbreviated New Drug Application approval for the lidocaine ointment USP, 5 percent by U.S. FDA.
In June 2016, the AstraZeneca announced commercialization agreement with the Aspen Global Incorporated (AGI) with the aim to expand commercial reach for company’s anesthetic’s
In February 2016, the Septodont acquired DLA, injectable dental aesthetic producing plant in Brazil. Septodont strengthened its occurrence in Latin American region with the strategic action.Key Players
- Boston Scientific Corporation
- Cogentix Medical
- Fujifilm Holdings Corporation
- Olympus Corporation
- PENTAX MEDICAL
- Endomed Systems
- KARL STORZ GmbH & Co. KG.
- SonoScape Medical Corp.
- Perkin Elmer
- Aerosol Liquids
- Cardiac Arrhythmia
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA