Lidocaine ointment has many uses, including the treatment of minor burns, scrapes, and bug bites. As a result, the market is anticipated to increase over the projected period. It is also used to prevent and relieve pain during specific procedures, such as cosmetic surgery and dental surgery. Thus, it is anticipated that the market would increase throughout the forecast period because to the rising popularity of cosmetic procedures. In addition, surgical treatments rose by 54% in 2021, with the average American plastic surgeon performing 320 operations, up from 220 in the previous year. Throughout the forecast period, market growth is anticipated to be driven by increased technical activity for the formulation of lidocaine ointment. For instance, a 5% concentration of glycerol monostearate (GMS) aids in the penetration of lidocaine deep into the dermis, according to a National Library of Medicine paper from September 2021. The release of lidocaine from the ointment was made easier by the self-nanoemulsifying properties of GMS. In order to enhance the formulation of the local anaesthetic lidocaine ointment, self-nanoemulsification of GMS has been used.
Coherent Market Insights estimates that the market for Lidocaine Ointment is anticipated to reach US$ 1,275.2 million in 2022 and grow at a CAGR of 7.7% during the following five years (2022-2030).
Market Leaders in the Lidocaine Ointment Industry:
1. Glenmark Pharmaceuticals U.S. Inc.
The corporate headquarters are in Mumbai, where it was founded in 1977. The company manufactures both a generic medication and an active pharmaceutical ingredient. Under the brand name FabiFlu, the company launched favipiravir, a potential COVID-19 treatment, in India in June 2020. In March 2023, Glenmark Pharma's generic antibiotic medication wins USFDA approval.
2. Teligent Inc.
The company was established in 1996 and its main office is in New Jersey, United States. Creams, ointments, injections, and other medical supplies are available from the company, which also manufactures and distributes pharmaceutical goods. The company's goal is to dominate the market for specialty generic prescription drugs.
3. Taro Pharmaceutical Industries Ltd.
The company was established in 1959 and is situated in Hawthorne, New York, United States. The organisation is a global, science-based pharmaceutical firm that develops, produces, and sells healthcare products. Prescription and over-the-counter medicines are among the items offered by the company. Taro Pharma announced in July 2020 that it will pay $8.2 million to purchase Aquinox Pharmaceutical in Canada.
4. Neon Laboratories Ltd.
The company was founded in 1982 and has its headquarters in Mumbai, Maharashtra. The business sells pharmaceuticals as well as items for veterinary, gynaecological, anaesthetic, and analgesic use. The company's primary focus is on developing and manufacturing Active Pharmaceutical Ingredients, parenteral formulations in the form of solutions, and lyophilized injection.
5. Amneal Pharmaceuticals LLC.
The business was founded in 2002 and its main office is in Bridgewater, New Jersey. The business creates and distributes generic medications as well as diverse prescription medication formats. The company declared in January 2021 that it will buy 98% of Kashiv BioSciences LLC and its medication delivery systems. Amneal declared in January 2022 that it will purchase the Saol Therapeutics Baclofen franchise for for $83.5 million plus future royalties.
6. Ascend Laboratories LLC
The business was founded in 2008 and is situated in Parsippany, New Jersey. The business is a pharmaceutical firm that creates and distributes tablets, capsules, lotions, ointments, powders, and nasal sprays. The company is a vibrant and forward-thinking business that is continually looking to build new connections to broaden our present product line.
7. Sandoz AG
The company was founded in 1886 and has its headquarters in Basel, Switzerland. The pharmaceutical and nutrition company Sandoz AG operates on a global scale. Seeds, crop protection, and building technology are among the company's various ventures. In February 2023, Sandoz declared that the US Food and Drug Administration (FDA) has approved its Biologics License Application (BLA) for the intended biosimilar denosumab.
8. Zydus Healthcare Limited.
Based in Ahmedabad, India, the business was established in 1952. Generic medicine manufacturing is the company's primary business. Clinical studies for Zydus Cadila's Desidustat medicine on cancer patients might start in 2020 thanks to USFDA approval. Zydus Lifesciences Ltd. takes the place of Cadila Healthcare Ltd. in 2022.
Definition: The class of local anaesthetics that includes lidocaine. By the suppression of signals from epidermal nerve endings, this medication reduces pain. Anesthetic Lidocaine is used during some treatments, such as surgery, to both prevent and cure pain.a
