Lidocaine patch is a transdermal formulation available through hospital, retail, and online pharmacies. It is most commonly prescribed for pain relief. Besides, it is used to treat pain related to nerve diseases, ease long-term pain problems, and to ease pain caused by shingles.
The global lidocaine patches market is estimated to be valued at US$ 1,055.6 million in 2022 and is expected to exhibit a CAGR of 7.8% during the forecast period (2022-2030).
Figure 1. Global Lidocaine Patches Market, in Terms of Value (US$ Million), By Region, 2022
Introduction of generic lidocaine patch products is expected to drive the global lidocaine patches market growth during the forecast period.
Generic lidocaine patch is significantly cheaper, compared to the brand version. Thus, increase in preference for generic lidocaine patch is expected to create opportunities for market players to launch new generic version of lidocaine patch and thereby drive growth of the market. For instance, Amneal Pharmaceuticals, Inc., a fully-integrated pharmaceutical company, announced that it received Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (FDA) for a generic version of Lidocaine Patch, 5%, in August 2020.
|Base Year:||2021||Market Size in 2022:||US$ 1,055.6 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||7.8%||2030 Value Projection:||US$ 1,926.8 Mn|
Endo International plc, Teva Pharmaceutical Industries Ltd, Viatris Inc. (Mylan N.V.), Teikoku Pharma USA, Inc., Hisamitsu Pharmaceuticals Co. Inc., Galen Limited, Sorrento Therapeutics, Inc., Amneal Pharmaceuticals, Inc., Rhodes Pharmaceuticals L.P., 6iPain Healthcare Private Limited, and Sanofi S.A.
|Restraints & Challenges:||
Figure 2. Global Lidocaine Patches Market Share (%), By Strength, 2022
Technological innovation in lidocaine patch is expected to drive the global market growth over the forecast period
Technological innovation with better adhesion is expected to drive demand for lidocaine patch products. Thus, key players are engaged in investing in research and development to introduce newer lidocaine patch products in the market and this is expected to drive growth of the market. For instance, in February 2018, Sorrento Therapeutics, Inc., a clinical-stage, antibody-centric, biopharmaceutical company, and its majority-owned subsidiary, Scilex Pharmaceuticals Inc., received approval from the U.S. Food and Drug Administration (FDA) for ZTlido (lidocaine topical system) 1.8%. ZTlido is a major advancement in analgesics because of its proprietary adhesion technology demonstrating 12-hour wear with efficient lidocaine delivery, even during exercise.
Global Lidocaine Patches Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 has resulted in several challenges in healthcare sector, especially to ensure continuity of treatment during this pandemic period. It has significantly affected healthcare systems and economies within a short timeframe. The pandemic is directly affecting the production and demand, creating disruptions in distribution channels of lidocaine patch, which resulted in decrease in revenue of manufacturer of lidocaine patch. Thus, COVID-19 pandemic has negative impact on global lidocaine patch market growth.
Global Lidocaine Patches Market: Restraints
Anticonvulsants, certain antidepressants, opioid painkillers, and others are the alternative options to treat pain associated with postherpetic neuralgia. For instance, opioids are highly used in the management of various other pain conditions. This is expected to limit the use of lidocaine patch and thereby expected to hinder growth of the market.
Major players operating in the global lidocaine patches market include Endo International plc, Teva Pharmaceutical Industries Ltd, Viatris Inc. (Mylan N.V.), Teikoku Pharma USA, Inc., Hisamitsu Pharmaceuticals Co. Inc., Galen Limited, Sorrento Therapeutics, Inc., Amneal Pharmaceuticals, Inc., Rhodes Pharmaceuticals L.P., 6iPain Healthcare Private Limited, and Sanofi S.A.
Lidocaine falls under the drug class of local anesthesia. Lidocaine patches are adhesive formulations that are used to help reduce itching and pain from certain skin conditions. Dermalid, Lidoderm, Ztildo are the prescription lidocaine transdermal patches used to relieve the pain of post-herpetic neuralgia. However, Absorbine Jr, Aspercreme, Lidocare, and Salonpas, among others are non-prescription lidocaine patches available to relieve minor pain in shoulders, arms, neck, and legs in adults and children 12 years of age and older.
Increase in application of lidocaine patch in pain management is expected to drive growth of the global lidocaine patch market over the forecast period. The lidocaine patch 5% exhibits efficacy to treat pain related to postherpetic neuralgia and is effective for pain related to osteoarthritis, creating an effective topical analgesic option for osteoarthritis. Moreover, increase in orevalence of lower back pain (LBP) is expected to boost growth of the market in the near future. For instance, according to an article published in Elsevier B.V. in January 2022, there were 568.4 million (95 % UI 505.0 to 640.6 million) prevalent cases of LBP (Low Back Pain) in 2019, with an age-standardized point prevalence estimate of 6,972.5 (95 % UI 6190.5 to 7860.5) per 100,000 population, globally. Additionally, increasing incidence of herpes zoster and lack of preventive vaccination against shingles are expected to boost demand for lidocaine patches, which is further expected to fuel growth of the global lidocaine patches market during the forecast period. For instance, according to data published by the Centers for Disease Control and Prevention in October 2020, an estimated one million cases of herpes zoster occur annually in the U.S. The incidence for herpes zoster is around 4 cases per 1,000 U.S. population annually.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.