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Lidocaine Hydrochloride Market Trends

Report ID: GMI9709
Published Date: May 2024
Report Format: PDF

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Lidocaine Hydrochloride Market Trends

The rise in surgical procedures worldwide is anticipated to propel market expansion owing to the widespread utilization of lidocaine hydrochloride as an anesthetic, delivering efficient pain management activity. With enhanced healthcare accessibility and a burgeoning population, surgical interventions for diverse medical applications such as dental procedures, cosmetic surgeries, and orthopedic procedures are rising, thereby bolstering the market growth.

For instance, as per the American Society of Plastic Surgeons (ASPS) report from September 2023, about 26.2 million minimally invasive cosmetic and reconstructive surgical procedures were performed in the U.S. in 2022. Specifically, since 2019, the number of cosmetic surgeries has increased by 19%. The increase in surgical interventions has led to an increased demand for effective pain management drugs. Therefore, growing advancements in drug delivery systems, the preference for anesthetics over opioids, rising number of product approvals, and research efforts all contribute significantly to the expansion of the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Lidocaine hydrochloride industry size was worth USD 752.5 million in 2023 and is projected to expand at 5.5% CAGR from 2024 to 2032, owing to the increasing prevalence of chronic pain management and neurological disorders.

The injectable dosage form segment in the lidocaine hydrochloride industry accounted for USD 354.2 million in revenue in 2023 and is estimated to depict 5.7% CAGR between 2024 and 2032, as they offer rapid onset of action and precise dosage control, making them ideal for various medical procedures requiring local or regional anesthesia.

The dental procedures segment in the lidocaine hydrochloride industry accounted for 30.8% market share in 2023 and is projected grow at significant rate from 2024 to 2032, due to its potent local anesthetic properties.

U.S. lidocaine hydrochloride market recorded USD 274.4 million in revenue in 2023 and is projected to grow at substantial CAGR between 2024 and 2032, owing to the presence of advanced healthcare infrastructure, high prevalence of surgical procedures, and extensive use of lidocaine in various medical specialties.