Increasing Surgical Processes in the World Are Driving the Growth of the Global Lidocaine Ointment Market

Lidocaine Ointment Market
Lidocaine Ointment Market


Lidocaine Ointment Market, by Formulation (Internal Use and Topical Use), by Age Group (Children and Adults), by Application (Insect Bite, Sun Burn, Minor Cut, Mouth Sore, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Market Overview:

Lidocaine ointment is a topical medication that contains the active ingredient lidocaine, which is a local anesthetic. It is used for temporary pain relief and numbing of the skin and mucous membranes. Lidocaine works by blocking nerve signals in the area where it is applied, thereby reducing pain sensations.

Competitive Landscape:

Major players operating in the Global Lidocaine Ointment Market include SEPTODONT, Inc., Zuche Pharmaceuticals Private Limited., Quagen Pharmaceuticals, Zydus Healthcare Limited., Sandoz AG, Aspen Pharmacare Australia Pty Ltd., Hi-Tech Pharmaceuticals, Liberty Pharmaceuticals, Inc., Ascend Laboratories LLC, Alembic Pharmaceuticals Limited, Amneal Pharmaceuticals LLC., Novocol Pharma, ASTRAZENECA CANADA INC., Neon Laboratories Ltd., CENTURA PHARMACEUTICALS INC., Taro Pharmaceutical Industries Ltd., Teligent Inc., and Glenmark Pharmaceuticals U.S. Inc.

Key Market Drivers:

Chronic pain conditions, such as arthritis, neuropathy, and back pain, affect a significant portion of the global population. Lidocaine ointment offers a convenient and non-invasive option for localized pain relief, leading to increased demand for such products. This is expected to augment the growth of the global lidocaine ointment market. For instance, according to the National Institutes of Health (NIH), around 310 million surgeries are performed every year in the world.

The global geriatric population is increasing, resulting in a higher prevalence of age-related conditions that cause pain and discomfort. Lidocaine ointment is widely used among the elderly for managing localized pain associated with arthritis, joint stiffness, and muscle soreness.

There is a growing awareness and acceptance of topical analgesics, including lidocaine ointment, as an alternative to oral pain medications. Topical application provides targeted relief and avoids systemic side effects often associated with oral medications. This is estimated to enhance the growth of the global lidocaine ointment market.

Covid-19 Impact Analysis:

The COVID-19 pandemic led to a significant disruption in elective medical procedures, including dermatological and surgical procedures that often require lidocaine ointment for local anesthesia. This resulted in a temporary decline in the demand for lidocaine ointment in some regions. This restrained the growth of the global lidocaine ointment market.

Key Takeaways:

·         North America is expected to dominate the growth of the global Lidocaine Ointment Market. The region benefits from a well-established healthcare infrastructure, a high prevalence of chronic pain conditions, and strong consumer awareness regarding the availability and benefits of topical analgesics. For instance, according to the National Institutes of Health (NIH), around 50 million surgeries are performed every year in the United States.

·         Europe is estimated to witness high growth in the global Lidocaine Ointment Market. Countries such as Germany, the United Kingdom, and France have a growing geriatric population, leading to increased demand for pain management solutions. The presence of key market players and advanced healthcare facilities also contributes to market growth. For instance, according to the National Institutes of Health (NIH), around 20 million surgeries are performed every year in Europe.


Comments

Post a Comment

Popular posts from this blog

Label-Free Array Systems; Best Suited For Drug Discovery, Rapid Diagnosis, and Security Applications

Image
                                                                                                         Label-Free Array Systems Label-free array systems are widely used in the drug discovery process by biotechnology and pharmaceutical companies. A system works on principle of optical interferometry, impedance-based assays, and refractive index to identify and validate new molecules as the possible drug candidates. Moreover, the system helps to reduce the cost and time for drug identification and validation process. In the past few years, label-free array systems have taken center stage as an effective research tool in all major clinical drug discovery processes. Label-free array systems comprises two types of biosensors, namely optical and impedance-based biosensors, including techniques such as bio-layer interferometry, isothermal titration calorimetry, surface plasmon resonance, and others. Of which, surface plasmon resonance is the most commonly used technique. The main advantag
Read more

Rising adoption of AI to boost Smart Home as a service Market Growth

Image
Smart Home as a service Market Smart Home as a service Market by System (Lighting Control, Home Monitoring/Security, Thermostat, Smart Appliances, Video Entertainment), Channel (Retailers, OEM, E-commerce) and By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030 The global Smart Home as a Service Market is estimated to be valued at US$ 2,483.48 million in 2023, and is expected to exhibit a CAGR of 16.98 % over the forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Smart home as a service or also known as ShaaS is a kind of service where as a substitute of user, service provider chooses, installs, manages, upgrades, and programs smart home devices. Smart home as a service utilizes the subscription-based business designs with monthly payment from users. Competitive Landscape: Key players involved in the growth of the global Sm
Read more

Cataract Surgery Devices have significantly improved over the years with rising emphasis on the safety of the patient and accuracy of the surgery

Image
                                                          Cataract Surgery Devices Cataract surgery involves replacing the natural lens of the eye with an intraocular lens. The condition causes a cloudy vision. The natural lens of the eye has become opaque. In order to correct this problem, a person may need this procedure. The surgery is commonly known as a lens replacement. Although it is not a traumatic procedure, it can be painful and requires several sessions. However, it is not the only option for this condition. A high-frequency ultrasound device is used during cataract surgery. The surgeon will remove the lens with the use of a suction device. The surgery can be done on the day of the procedure. A temporary prescription eye shield will help to recover faster. After the procedure, the patient will still need to wear glasses or contacts. One can even start a new activity right after the surgery. The process of recovery varies depending on the specific needs and the extent of the
Read more