The Global Lidocaine Ointment Market Is Witnessing High Growth Owing To the High Incidence of Surgeries in the World

 

Lidocaine Ointment

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 type of medication that helps to relieve the pain associated with many skin conditions, including bug bites, rashes, minor burns, abrasions, cuts, cold sores, hemorrhoids, and more. It works by preventing pain signals from reaching the brain, thus relieving the symptoms of these conditions. The medication is a member of a group of drugs called local anesthetics, which can help to prevent pain during procedures. In some cases, lidocaine can even be used to reduce the pain associated with certain X-ray pictures and dental impressions. This medicine can cause serious side effects if it is not used properly or at the right dose. Use this medication for only the medical condition for which it was prescribed. Overuse or misuse of this drug may cause severe side effects or death.

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:

The increasing incidence of surgeries in the world is expected to augment the growth of the global Lidocaine Ointment Market. For instance, according to the National Institutes of Health (NIH), around 234 million surgeries take place annually worldwide. Lidocaine ointment should be applied to clean, dry, intact skin, as directed by the doctor. Do not apply the patch or topical system to an open wound, skin that is irritated or red, or any area of the body where patients are sensitive to oxidizing chemicals such as chlorine or hydrogen peroxide (found in some cleaning supplies and hair dyes). If patients need to use this medicine for a long time, do not increase the amount of it they use. Overdosage can lead to serious health problems, such as seizures or methemoglobinemia (a condition where the red blood cells do not deliver enough oxygen). Moreover, advancements related to surgical anesthetics are estimated to enhance the growth of the global lidocaine ointment market.

Covid-19 Impact Analysis

During the COVID-19 pandemic, there have been several developments in the global lidocaine ointment market. For instance, according to the Journal of Cardiovascular Development and Disease, dysrhythmias resulting due to SARS-CoV-2 infection exhibit high-grade ventricular tachycardia, atrial fibrillation, and atrioventricular block. This boosted the growth of the market.

Key Takeaways

·       North America is expected to dominate the growth of the global Lidocaine Ointment Market, owing to the increasing incidence of non-surgical procedures. For instance, according to the American Society for Aesthetic Plastic Surgery, in 2022, the U.S. witnessed a 44% increase in non-surgical procedures.

·       The Asia Pacific is estimated to witness high growth in the global Lidocaine Ointment Market, owing to the increasing developments by key companies in the region. For instance, in April 2022, Alembic Pharmaceuticals Limited and Aleor Dermaceuticals Limited received approval from the Food and Drug Administration (USFDA) for their Lidocaine and Prilocaine Cream.

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