Lidocaine patches market

Q: Which is the leading strength segment in the market?

5% segment is holding a major market share in the market. Read more

Lidocaine Patches Market, by Strength (5%, 4%, and Others (10%, 20%, etc.)), by Adhesive Material (Aqueous and Non-aqueous), by Application (Post Herpetic Neuralgia (PHN) and Pain Indications), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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May 2022
CMI1805
202 Pages
Excel & Pdf
Pharmaceutical

Summary

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.

Lidocaine Patches Market Report Coverage

Report Coverage	Details
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
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Strength: 5%, 4%, Others (10%, 20%, etc.) By Adhesive Material: Aqueous, Non-aqueous By Application: Post Herpetic Neuralgia (PHN), Pain Indications By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:	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.
Growth Drivers:	Introduction of generic products Technological innovation
Restraints & Challenges:	Presence of alternative treatment options

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.

Key Players

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.

Table of Content

Table of Contents

*Browse 40 market data tables and 34 figures on "Global Lidocaine Patches Market” - Forecast to 2030.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global lidocaine patches market during the forecast period (2022-2030)?

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% between 2022 and 2030.

What are the major factors driving the market growth?

Technological innovation in lidocaine patch is expected to drive the market growth over the forecast period.

Which is the leading strength segment in the market?

5% segment is holding a major market share in the market.

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include presence of alternative treatment option.

Which are the major players operating in the market?

Major players operating in the 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.