Global Lidocaine Market Size To Worth USD 3.93 Billion By 2033 | CAGR Of 5.23%
Category: HealthcareGlobal Lidocaine Market Size To Worth USD 3.93 Billion By 2033 | CAGR Of 5.23%
According to a research report published by Spherical Insights & Consulting, the Global Lidocaine Market Size is Expected to Grow from USD 2.36 Billion in 2023 to USD 3.93 Billion by 2033, at a CAGR of 5.23% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 112 Market data tables and figures & charts from the report on the "Global Lidocaine Market Size, Share, and COVID-19 Impact Analysis, By Formulation (Ointments, Gels, Injections, Liquids, Aerosol, Creams, and Others), By Application (Epilepsy, Cosmetics, Dentistry, Cardiac Arrhythmia, and Others), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/lidocaine-market
The lidocaine market is a global industry that produces and commercializes lidocaine, a local anesthetic and anti-arrhythmic drug used to treat arrhythmia and pain sensations. Lidocaine is available in various forms, including spray, cream, solution, pad, swab, powder, extended-release patch, lotion, gel, and ointment. The increasing prevalence of arrhythmia, such as atrial fibrillation, has led to a demand for antiarrhythmic medications like lidocaine. The market growth is driven by government initiatives and established guidelines, such as those provided by the India Dental Association. The New England Journal of Medicine states that with 234 million annual surgeries, the need for local anesthetics to numb the localized area of the body is increasing. The lidocaine market is projected to grow to 3.23 billion by 2033, driven by factors such as the rising prevalence of arrhythmia, government initiatives, and the growth in dental surgeries. Chronic pain, a prevalent issue, is driving demand for pain management drugs like lidocaine. The lidocaine market is growing due to its widespread use in surgeries and pain relief. In 2019, 18 million people worldwide were living with rheumatoid arthritis, highlighting the global prevalence of this complex complication. However, side effects associated with lidocaine may hinder the market growth.
The ointment segment held the largest share of 38.53% in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the formulation, the global lidocaine market is categorized as ointments, gels, injections, liquids, aerosols, creams, and others. Among these, the ointment segment held the largest share of 38.53% in 2023 and is predicted to grow at a significant CAGR during the predicted period. The ointment segment's growth is attributed to its targeted application, ease of use, versatility, reduced side effects, long-term pain relief, moisturizing effects, quick action, and wide range of applications in burns, scratches, and insect bites.
The dentistry segment accounted for the highest market share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global lidocaine market is categorized as epilepsy, cosmetics, dentistry, cardiac arrhythmia, and others. Among these, the dentistry segment accounted for the highest market share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. Lidocaine hydrochloride injectable solutions are popular in dentistry due to their rapid onset and effective duration, providing local anesthesia during dental procedures like tooth extractions, fillings, root canals, and periodontal operations.
The hospital pharmacies segment accounted for the greatest market share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe.
Based on the distribution channel, the global lidocaine market is categorized as epilepsy, cosmetics, dentistry, cardiac arrhythmia, and others. Among these, the hospital pharmacies segment accounted for the greatest market share in 2023 and is predicted to grow at a significant CAGR throughout the projected timeframe. The segmental expansion is driven by drug compounding facilities, cost-effective drug management solutions, healthcare collaborations, personalized medications, and innovative healthcare innovations for improved patient outcomes.
North America is expected to hold the greatest share of the global lidocaine market over the forecast period.
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North America is expected to hold the greatest share of the global lidocaine market over the forecast period. The rise in surgical procedures and research and development activities, particularly in dentistry and dermatology, has heightened the demand for lidocaine as an effective anesthetic. The continuous advancements in medical technology and procedures further underscore the drug's importance in modern healthcare.
Asia Pacific is predicted to hold the fastest-growing region of the global lidocaine market throughout the estimated period. The Asia-Pacific market for lidocaine is expected to grow rapidly due to the increasing emphasis on dental health, aesthetic improvements, and the rising middle class in countries like China and India. The market is expected to expand as medical facilities improve and more people become aware of available therapies.
Major key players in the global lidocaine market are Teva Pharmaceuticals Industries Limited, SonoScape Medical Corp., EndoMed Systems GmbH., Viatris Inc., Sorrento Therapeutics, Boston Scientific Corporation, KARL STORZ, Olympus Corporation, Medline Industries, Teikoku Pharma, PerkinElmer, Hisamitsu Pharmaceutical Co., Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In December 2024, Zydus Lifescience announced the final approval from the United States Food and Drug Administration (USFDA) for the production of the Lidocaine and Prilocaine Cream USP, 2.5%/2.5% (USRLD: EMLA Cream, 2.5%/2.5%). Its intended use is as topical anesthetics for normal intact skin for local analgesia and genital mucous membranes for infiltration anesthesia.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global lidocaine market based on the below-mentioned segments:
Global Lidocaine Market, By Formulation
- Ointments
- Gels
- Injections
- Liquids
- Aerosol
- Creams
- Others
Global Lidocaine Market, By Application
- Epilepsy
- Cosmetics
- Dentistry
- Cardiac Arrhythmia
- Others
Global Lidocaine Market, By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Others
Global Lidocaine Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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