When compared to the brand version, generic lidocaine patch is much less expensive. As a result of the increased desire for generic lidocaine patch, industry participants are projected to introduce new generic versions of lidocaine patch, driving market expansion. Demand for lidocaine patch products is predicted to rise as a result of technological advancements that improve adherence. As a result, leading companies are spending in research & development to provide innovative lidocaine patch products to the market, which is projected to fuel market growth. Other treatments for pain linked with postherpetic neuralgia include anticonvulsants, some antidepressants, opioid medications, and others. Opioids, for example, are widely utilised in the treatment of a variety of different pain problems. This is predicted to decrease the usage of lidocaine patches, consequently slowing market development.
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).
Prominent Players in the Lidocaine Patch Industry:
1. Endo International plc
Endo International plc, a specialty pharmaceutical company, manufactures and sells generic and branded pharmaceuticals in the United States and internationally. Endo International plc was founded in 1920 and is headquartered in Dublin, Ireland.
2.Teva Pharmaceutical Industries Ltd
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. The company was founded in 1901 and is headquartered in Tel Aviv, Israel.
3. Teikoku Pharma USA, Inc.
The company was founded in 1997, headquartered in U.S. In May 2018, Teikoku Pharma USA Inc. (TPU), a wholly-owned subsidiary of Teikoku Seiyaku Co., LTD. of Japan, announced that it had entered into an exclusive license agreement with Link Health Group LTD, a leading China-based pharmaceutical company to develop market, sell, and distribute TPU’s flagship product, Lidoderm, in China. Lidoderm offers relief of the pain associated with post-herpetic neuralgia (PHN). It is a combination of lidocaine in a soft hydrogel plaster combining efficacious treatment with proven tolerability, safety, and simple handling.
4. Hisamitsu Pharmaceuticals Co. Inc.
Hisamitsu Pharmaceutical Co., Inc. manufactures and sells pharmaceuticals, quasi-drugs, and medical devices in Japan. the company manufactures and sells drugs under MOHRUS TAPE, MOHRUS PAP XR, FENTOS Tapes, NEOXY Tapes, Abstral, ALLESAGA Tapes, HARUROPI Tapes, and MENOAID Combipatch. Further, it provides HFT-290, a transdermal patch for cancer pain. The company sells its products in the United States and Asia. Hisamitsu Pharmaceutical Co., Inc. was founded in 1847 and is headquartered in Tosu, Japan.
5. Amneal Pharmaceuticals, Inc.
Amneal Pharmaceuticals, Inc., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. The company operates through three segments: Generics, Specialty, and AvKARE. Amneal Pharmaceuticals, Inc. was founded in 2002 and is headquartered in Bridgewater, New Jersey. 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.
6. Rhodes Pharmaceuticals
Rhodes Pharmaceuticals, a privately held company headquartered in picturesque Rhode Island, has been developing and distributing quality pharmaceutical products since 2008. their product portfolio is continually growing due to first-class R&D, industry partnerships, and strong relationships with their suppliers and independently associated companies.
7. Sanofi S.A.
Sanofi, together with its subsidiaries, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. Sanofi was founded in 1973 and is headquartered in Paris, France.
8. Sorrento Therapeutics, Inc.
The company was founded in 2006 and is based in San Diego, California.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.
*Definition- Lidocaine patch is a transdermal formulation that is accessible via hospitals, retail pharmacies, and internet pharmacies. It is most typically used to treat pain.
