Lidocaine Patches Market Dynamics
Increasing number generic
approved product in the market are expected to augment the Lidocaine
Patches Market growth. Patent expiry of Endo Pharmaceuticals for Lidoderm
offers growth opportunity for market players to develop generic version of the
lidocaine patch. For instance, in 2015, Mylan Pharmaceuticals, Inc., launched
the generic version of Endo Pharmaceutical's Lidoderm in the U.S. market. In
2014, Galen US Incorporated receive FDA approval for Synera, lidocaine and
tetracaine topical patch for domestic use. Moreover, companies are introducing
advanced technologies in lidocaine patches in order to maintain leading
position in market, For instance, in 2016, Gregory Pharmaceutical Holdings,
Inc. launched Lidocare, which is first and only patch that is water-free.
Lidocare is the new over-the-counter/non-prescription lidocaine pain patch and
the technology is under the patenting process. In February 2018, Sorrento
Therapeutics, Inc., a subsidiary of Scilex Pharmaceuticals Inc., received U.S.
FDA approval for ZTlido 1.8%, with the company’s proprietary adhesion
technology. Furthermore, companies are also conducting clinical trials for
expanding the application of lidocaine patch for disease and conditions such as
Endo Pharmaceuticals, Inc., is conducting clinical trial for the use of
lidocaine patch in osteoarthritis, chronic lower back pains, Carpal Tunnel
Syndrome etc.
Lidocaine is an aminoethylamide
local and topical anesthetic medication, causing temporary numbness or loss of
sensation in the area of application. Lidocaine blocks the voltage-gated sodium
channels of nerve membranes, thereby preventing the generation and conduction
of nerve impulses and providing analgesic relief.
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Lidocaine patch 5% comprises a
soft, stretchy adhesive patch containing 5% lidocaine for the topical treatment
of pain associated with Post Herpetic Neuralgia (PHN). The first FDA approved
transdermal lidocaine patch was Lidoderm, in 1999, by Endo Pharmaceuticals Inc.
Increasing incidence of back and neck pain is the key factors driving growth of
the market. However, availability of alternatives for the pain management such
as other pain killer drugs are expected to restrain growth of the lidocaine
patches market growth.
Increasing incidence of the
shingles is expected to fuel growth of the lidocaine patches market during the
forecast period. Shingles, also known as herpes zoster, leads to the chronic
pain known as Post Herpetic Neuralgia (PHN) in which lidocaine patches are
used. According to Centers for Disease Control and Prevention (CDC), January
2018, an estimated one third of the total U.S. population develops shingles
during their lifetime, which suggests nearly 1 million Americans experiences shingles
infection annually. Furthermore, CDC estimated that around 10 to 15% people
with shingles infection experience PHN.
Lidocaine Patches Market -
Regional Analysis
Regional segmentation of
lidocaine patches market by Coherent Market Insights includes North America,
Latin America, Europe, Asia Pacific, Middle East, and Africa. North America
lidocaine patches market holds dominant position, owing to large number of
product launches by the regional players and strategic collaborations among
market players to introduce their product in regional market. For instance,
Galen’s acquisition of Synera patch, a product of Nuvo Research, to
commercialize the product in U.S. lidocaine patches market. Furthermore,
reimbursement policies in North America related to lidocaine patch are
supporting the market growth.
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Moreover, Asia Pacific Lidocaine
Patches Market is expected to witness fast growth attributed to increasing
incidence of herpes zoster in these region and lack of preventive vaccination
against shingles, which is expected to boost the lidocaine patches market
growth.
Lidocaine Patches Market -
Competitive Analysis
This market is highly fragmented,
with the presence of Mylan Pharmaceuticals Inc., Endo Pharmaceutical Inc., Teva
Pharmaceutical, Inc., Teikoku Pharma USA, Hisamitsu Pharmaceuticals Co. Inc.,
Galen US Inc., Sorrento Therapeutics, Inc. and Actavis Labs UT Inc. market
players.
Manufacturers are focused on
acquisition of complementary companies to enter the market with advanced
products in lidocaine patches. For instance, in 2013, Galen entered into a
product acquisition and license agreement with Nuvo Research Inc.
pharmaceutical company dedicated to building a portfolio of products for the
topical treatment of pain. Acquisition offers exclusive rights to market and
sell Nuvo's Synera patch throughout the U.S. for its current indication. Under
these agreement Nuvo Research Inc. will receive royalties of 10% of net sales.
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