Europe Lidocaine Ointment Market

Europe Lidocaine Ointment Market Size & Growth (2023 to 2028):

As Per the Report, the Europe Lidocaine Ointment Market Size was valued at USD 385.48 Million in 2023 and is poised to reach USD 550.05 Million by 2028, to grow at a CAGR of 7.37% during the forecast period 2023 to 2028.

The application of lidocaine is associated with the incidence of various minimally invasive surgical procedures, periodontal and mediated diseases, inclination towards preventive medical care, higher incidences of cosmetic procedures and plastic surgeries, application in painful disorders, increasing anti-itch medications and pain relievers associated with minor cuts, skin abrasions, burns, and eczema, etc. These factors are responsible for driving the growing demand for the European lidocaine ointment market. In addition, lidocaine is also seeing rapid growth in several chronic and acute pain-related disorders such as ulcers, burning mouth syndrome, etc. The various benefits associated with lidocaine hydrochloride are some other major growth factors in the market.

In medical applications, Lidocaine hydroxide works by blocking nerve signals in the body. A key trend seen in the market is a significant increase in the demand for postoperative pain relief options immediately following an increasing number of surgeries. This trend is expected to continue to influence the market for lidocaine hydrochloride positively. According to a recent study, approximately 77% of patients who undergo surgery experience acute postoperative pain, often of moderate to high severity, which further improves overall growth. Lidocaine ointments are the majority growing in the market owing to the use in preoperative steps for dermatological/ cosmetic and dental surgeries; Lidocaine ointment is used as an adjunct for improved numbness along with injectable local anesthesia. Lidocaine helps decrease the pain perception even post-operatively when used in an ointment form, with growing demand for procedures involving soft tissue augmentation, laser surgery, skin tag removal, Botox, and other cosmetic surgical treatments. The order in decorative applications is anticipated to boost the European lidocaine ointment market during the analysis period.

However, government regulations regarding the safety and effectiveness of lidocaine ointment are restraining the market growth. Furthermore, another alternative local anesthetic drug in an ointment form, such as herbal substitutes, tetracaine, bupivacaine, etc., may also affect the market. Additionally, many side effects such as idiosyncrasy, hypersensitivity, delayed wound healing, loss of sensation, and loss of taste are expected to harm the European lidocaine ointment market.

This research report on the Europe Lidocaine Ointment Market has been segmented and sub-segmented into the following categories

By Formulation:

• Internal Use
• Topical Use

By Application:

• Medical
• Cosmetics

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the Europe is expected to be the second-largest market in the global market, attributed to the well-established healthcare industry, availability of various products, and growth in R&D activities.

The UK Lidocaine Ointment Market is expected to be the largest market in Europe due to the growing demand for lidocaine formulations, surgeries, and increased investments in the healthcare sector. In 2019, roughly 28 thousand cosmetic surgeries were carried out in the UK. While in the year 2015, the number of cosmetic surgeries performed was over 52 thousand procedures. These numbers have increased by almost five-fold between 2006 and 2016. These numbers are anticipated to increase over time and will increase the sale revenues in the market.

The regional market in Germany Lidocaine Ointment Market has seen tremendous market growth, growing at a CAGR of 5.5% during the analysis period. This market growth can be due to the increasing number of regional surgeries, awareness of lidocaine ointment as a local anesthetics agent, and a large patient population. The German market held approximately 26.9% market share of the European lidocaine ointment market in 2018. Counted the number of cosmetic procedures done performed in Germany was estimated at nearly 923,000. Other European countries are also predicted to grow at a healthy, steady rate.

KEY MARKET PLAYERS

Promising Companies dominating the Europe Lidocaine Ointment Market Profiled in the Report are AstraZeneca Plc., Glenmark Pharmaceuticals, Teligent, Inc., Proficient Rx LP, ., Septodont Healthcare India Pvt. Ltd., Gemini Pharmaceuticals,  Amneal Pharmaceuticals LLC, Taro Pharmaceuticals U.S.A. Inc., Novocol Inc. and  Centura Pharmaceuticals, Inc.,