The Asia Pacific Lidocaine Market size is expected to reach a valuation of USD 727.58 million by 2030, growing at a rate of 9.00 % CAGR during the forecast period (2022–2030).
Lidocaine is a local anaesthetic made from an aminoethyl amide derived from xylidine. It has a longer-lasting, broader, and quicker action than other anaesthetics like procaine. The number of surgical procedures executed around the world, such as dental procedures, aesthetic surgery, and plastic surgeries, is expected to increase. Some of the drivers driving the market growth are the rise in chronic and acute pain disorders across the globe, as well as the numerous benefits associated with lidocaine hydrochloride. A notable trend in the market is a significant increase in the requirement for postoperative pain management treatments, which follows an increase in the number of surgical procedures. As a result of this tendency, the demand for lidocaine hydrochloride is expected to continue to climb. According to the study "Postoperative Pain Control," over 75% of people who have surgery experience acute postoperative pain, which is usually moderate to severe in severity, which helps them grow faster.
Lidocaine is an affordable medicine that is on the Asia Pacific Health Organization's List of Essential Medicines. Due to its vast population and rapidly increasing and expanding healthcare facilities, the Asia Pacific region holds a considerable lignocaine market share. In the Asia-Pacific area, growth in the geriatric population is projected to result in a considerable increase in the need for procedures. As anaesthetic medications are used in surgical operations to decrease pain, the general increase in the number of surgeries conducted has a significant impact on the Lidocaine market in Asia-Pacific.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
By 2030, the Asia Pacific Lidocaine Market is estimated to be worth USD 727.58 million, with a 9.00% compound annual growth rate (CAGR) over the forecast period (2022–2030). Lidocaine is a low-cost drug on the Asia Pacific Health Organization's Essential Medicines List. The Asia Pacific region has a significant lignocaine market share due to its large population and quickly growing and expanding healthcare facilities. A rise in the geriatric population in Asia-Pacific is expected to result in a significant increase in the requirement for operations. As anaesthetic medicines are used to alleviate pain during surgical procedures, the overall growth in the number of surgeries performed has a substantial impact on the Lidocaine market in Asia-Pacific.
Due to its big population, low production costs, and quickly developing and expanding healthcare facilities, China's lidocaine ointment market will account for a considerable market share of 25% of the APAC lidocaine ointment market. In 2019, China's health spending accounted for around 6.7% of GDP, up from 6.5% in 2018, indicating a significant increase.
The rising use of lidocaine for veterinary, dental, and cosmetic operations is expected to drive the market in the future, as China's healthcare awareness and medical infrastructure improve. Furthermore, the enormous unmet needs of populated countries like Australia, China, and India are propelling the APAC lignocaine ointment market forward.
The lidocaine market in Bangladesh, Pakistan, Indonesia, and Thailand is predicted to rise, owing to rising economic standards, increased unmet demands, speedier healthcare facilities, and lower prices. Due to the cheap cost of raw materials and production rates in these locations, these factors are expected to have an impact on the market. India, on the other hand, is expected to increase moderately as a result of less stringent government rules and a good medical tourism destination for foreigners.
According to the formulation, the section is divided into injections, creams, ointments, gels, and others. Lidocaine hydrochloride is available in a number of different forms, including a 2% viscous solution, a 2% gel, a 4% solution, and a 10% topical spray. Lidocaine base is available in 5%, 2.5%, and 10% concentrations in solutions and ointments, as well as a 10% aerosol spray. Furthermore, the ointments category is likely to grow at the quickest rate during the forecast period. This is due to the growing use of lidocaine ointments as cosmetic surgery products.
Depending on the application, the section is divided into dental, cardiac arrhythmia, epilepsy, aesthetic surgery, general surgery, and others. The dentistry industry is predicted to have the greatest market share in 2020. The demand for injectable lidocaine hydrochloride solutions in dental surgical procedures is driving its dominance. This, together with a rise in the number of dental problems and chronic and acute pain associated with dental operations, is expected to move the market ahead. Oral problems will affect about 3.5 billion individuals by 2020, according to the World Health Organization.
Based on distribution channels, the market is divided into hospital outlets, retail pharmacies, and others. The hospital outlets segment will account for the majority of the lidocaine market in the region by 2020. This is mostly due to better infrastructure and facilities, as well as a growth in the incidence of dental, aesthetic, and general operations, higher awareness of illness diagnosis and treatment, and an increase in the number of patients globally.
During the assessment period, the market expansion will be aided by the establishment of hospital pharmacies in cardiology, neurology, and other illnesses in both developed and developing countries, as well as an increase in the number of hospitals and appropriate reimbursement scenarios.