LIDOCAINE PATCHES MARKET ANALYSIS

Lidocaine Patches Market, by Strength (5%, 4%, and Others (10%, 20%, etc.)), by Adhesive Material (Aqueous and Non-aqueous), by Application (Post Herpetic Neuralgia (PHN) and Pain Indications), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : May 2022
Code : CMI1805
Pages :202
Formats :
Excel and PDF
Industry : Pharmaceutical

Market Challenges And Opportunities

Global Lidocaine Patches Market: Restraints

Anticonvulsants, certain antidepressants, opioid painkillers, and others are the alternative options to treat pain associated with postherpetic neuralgia. For instance, opioids are highly used in the management of various other pain conditions. This is expected to limit the use of lidocaine patch and thereby expected to hinder growth of the market.

Restraints & Challenges:

Presence of alternative treatment options

Technological innovation in lidocaine patch is expected to drive the global market growth over the forecast period

Technological innovation with better adhesion is expected to drive demand for lidocaine patch products. Thus, key players are engaged in investing in research and development to introduce newer lidocaine patch products in the market and this is expected to drive growth of the market. For instance, 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.