Lidocaine Market size was over USD 904.2 million in 2023 and is projected to exceed USD 1.76 billion by 2036, witnessing over 5.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of lidocaine is assessed at USD 942.54 million. The growth of the market can be attributed to the increase in the number of surgeries, and escalating demand for lidocaine formulations around the world. Along with these, surge in the prevalence of periodontal diseases, such as gingivitis and periodontitis, is expected to augment the sales of the product globally in the forthcoming years. According to the World Health Organization, as of 2020, oral diseases affect nearly 3.5 billion people worldwide. In addition, it is calculated that 2.3 billion people suffer from caries of permanent teeth. Rise in healthcare expenditure and growing population of the elderly across the globe are also crucial factors predicted to lead the expansion of market in the near future. Furthermore, massive investments in research and development in the pharmaceutical sector is projected to offer profitable opportunities to the market in the imminent time.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.3% |
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Base Year Market Size (2023) |
USD 904.2 million |
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Forecast Year Market Size (2036) |
USD 1.76 billion |
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Regional Scope |
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The market is segmented by application into dentistry, cardiac arrhythmia, epilepsy, cosmetics, and others, out of which, the dentistry segment is anticipated to hold the largest share in the global lidocaine market. This can be accounted to the extensive use of lidocaine hydrochloride injectable in various surgical dental procedures. Apart from this, increasing occurrence of dental disorders, coupled with chronic and acute pain associated with dental procedures are also assessed to bode well for the growth of the market segment. Additionally, on the basis of formulation, the ointments segment is evaluated to occupy the largest share during the forecast period ascribing to the burgeoning usage of lidocaine ointments in cutaneous procedures such as laser surgeries and soft tissue augmentation, and also as cosmetic surgery products.
Our in-depth analysis of the global market includes the following segments
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By Formulation |
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By Application |
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On the basis of geographical analysis, the global lidocaine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is poised to account for largest revenue share by 2036, on the back of spiraling number of dental and cosmetic procedures, along with plastic surgeries. In addition, rapid increase in the region’s geriatric population, rise in production of oral care products, and large patient pool are also assessed to drive the region’s market growth in the coming years. Another report by the WHO depicts that the proportion of people aged 60 or above was 9.8% in 2017, and is calculated to increase up to 13.7% and 20.3% by 2030 and by 2050, respectively. Moreover, the lidocaine market in North America is projected to acquire the largest share during the forecast period owing to the high demand for lidocaine formulations, and rising investments in the healthcare sector, especially in the United States. Apart from these, strong presence of major market players is also evaluated to fuel the progress of market in the region.
August 2021- Scilex Holding Company, which is a subsidiary of Sorrento Therapeutics, Inc., announced that ZTlido, 1.8%, a lidocaine topical system, has been added to multiple formularies, including two national PBMs (Pharmacy Benefit Managers), a national health plan and two regional health plans.
May 2018- Teikoku Pharma USA Inc. entered into an exclusive license agreement with Link Health Group LTD for the development and distribution of TPU’s flagship product Lidoderm in China.
Author Credits: Radhika Pawar
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