Global Lidocaine Transdermal Patch Market Is Expected to Grow At A CAGR of 3.2% from 2020 to 2027

Press Release

Lidocaine is categorized as a local anesthetic which acts by blocking the voltage-gated sodium channel in the central nervous system. The rising prevalence of neuropathic pain and technological advancement in the transdermal drug delivery system will together drive the market growth.

Post-herpetic neuralgia is dominating the clinical application segment in the lidocaine transdermal patch market. The growing incidence of Herpes zoster viral infection due to unsafe sex practices is responsible for the disease etiology of post-herpetic neuralgia. It is also known as shingles infection, which recurs due to reactivation of the varicella-zoster viral infection. The early symptoms associate with the shingles infection is the development of cold sores in the genitalia region which is severely painful, burning sensation, and highly sensitive to touch. The joint pain will be projecting exemplary market growth on account of the growing popularity of sports and athletic activities often resulting in acute joint injuries. Additionally, increasing the geriatric population suffering from osteoporosis causing arthritis will further accentuate the market growth.

Browse the full report Lidocaine Transdermal Patch Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027 at https://www.atlanticmarketresearch.com/lidocaine-transdermal-patch-market

Hospital pharmacy is currently ruling the distribution channel segment in the lidocaine transdermal patch market. The rising prevalence of osteoarthritis causing severe joint pains determines the market growth. Different strengths of lidocaine transdermal patch are dispensed by hospital pharmacists according to the degree of pain intensity and kind of joint pain. Retail pharmacies are garnering huge popularity as a sales channel among consumers worldwide. Flourishing generic medicines market in the developing regions further propel its market growth.

North America is currently leading the geography segment for the lidocaine transdermal patch market. The growing incidence of osteoporosis in the geriatric population causing throbbing joint pain primarily drives the market growth in the region. According to the latest information provided by the Center for Disease Control and Prevention (CDC), approximately 20.4 % population in the United States are suffering from chronic joint pain. Additionally, rising public health awareness pertaining to neuropathic pain and its treatment drives the lidocaine transdermal patch market growth in the region. Europe is placed 2nd in the regional segment due to the significant increase in the number of adults suffering from a shingles infection. As per the statistics provided by the European Commission report, the prevalence rate associated with Herpes Zoster in Europe is 2.5 per 1000 people. The Asia Pacific is anticipated to be the fastest-growing regional segment during the forecast period. The constant rise in the injuries associated with sports and athletic activities and flourishing over the counter analgesics market together with determining the lidocaine transdermal patch market in the region.

Pharmaceutical manufacturers actively engaged in the production of Lidocaine Transdermal Patch are Endo International, Plc., Mylan N.V., Teva Pharmaceutical Industries, Ltd., Hisamitsu Pharmaceuticals Co., Inc., Sorrento Therapeutics, Inc., Galen Limited, Seqirus Pty Ltd., ACTAVIS LABS UT INC, CERAMISPHERE and Aetna, Inc.

Key Market Movements:

  • Rising prevalence of shingles infection among the adult population worldwide
  • Significant increase in the number of musculoskeletal disorders causing throbbing joint pains will further accentuate the market growth
  • Technological advancement in the transdermal drug delivery system to provide local anesthetic effect will further propel the market growth

About Atlantic Market Research

Atlantic Market Research is the largest provider of market research and consulting services.

Research and consulting services of Atlantic Market Research help businesses across the globe navigate the challenges in a rapidly growing marketplace with confidence. Our customized and syndicated market research reports deliver sufficient insights that drive sustainable growth.

Contact:
Mr. Trevor Wilson
Atlantic Market Research
911 Central Ave #268
Albany, NY 12206, USA

Website: https://www.atlanticmarketresearch.com
Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *