Lidocaine Patches Market Dynamics
Increasing number genericapproved product in the market are expected to augment the LidocainePatches Market growth. Patent expiry of Endo Pharmaceuticals for Lidodermoffers growth opportunity for market players to develop generic version of thelidocaine patch. For instance, in 2015, Mylan Pharmaceuticals, Inc., launchedthe generic version of Endo Pharmaceutical's Lidoderm in the U.S. market. In2014, Galen US Incorporated receive FDA approval for Synera, lidocaine andtetracaine topical patch for domestic use. Moreover, companies are introducingadvanced technologies in lidocaine patches in order to maintain leadingposition 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 andthe technology is under the patenting process. In February 2018, SorrentoTherapeutics, Inc., a subsidiary of Scilex Pharmaceuticals Inc., received U.S.FDA approval for ZTlido 1.8%, with the company’s proprietary adhesiontechnology. Furthermore, companies are also conducting clinical trials forexpanding the application of lidocaine patch for disease and conditions such asEndo Pharmaceuticals, Inc., is conducting clinical trial for the use oflidocaine patch in osteoarthritis, chronic lower back pains, Carpal TunnelSyndrome etc.
Lidocaine is an aminoethylamidelocal and topical anesthetic medication, causing temporary numbness or loss ofsensation in the area of application. Lidocaine blocks the voltage-gated sodiumchannels of nerve membranes, thereby preventing the generation and conductionof nerve impulses and providing analgesic relief.
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Lidocaine patch 5% comprises asoft, stretchy adhesive patch containing 5% lidocaine for the topical treatmentof pain associated with Post Herpetic Neuralgia (PHN). The first FDA approvedtransdermal lidocaine patch was Lidoderm, in 1999, by Endo Pharmaceuticals Inc.Increasing incidence of back and neck pain is the key factors driving growth ofthe market. However, availability of alternatives for the pain management suchas other pain killer drugs are expected to restrain growth of the lidocainepatches market growth.
Increasing incidence of theshingles is expected to fuel growth of the lidocaine patches market during theforecast period. Shingles, also known as herpes zoster, leads to the chronicpain known as Post Herpetic Neuralgia (PHN) in which lidocaine patches areused. According to Centers for Disease Control and Prevention (CDC), January2018, an estimated one third of the total U.S. population develops shinglesduring their lifetime, which suggests nearly 1 million Americans experiences shinglesinfection annually. Furthermore, CDC estimated that around 10 to 15% peoplewith shingles infection experience PHN.
Lidocaine Patches Market -Regional Analysis
Regional segmentation oflidocaine patches market by Coherent Market Insights includes North America,Latin America, Europe, Asia Pacific, Middle East, and Africa. North Americalidocaine patches market holds dominant position, owing to large number ofproduct launches by the regional players and strategic collaborations amongmarket players to introduce their product in regional market. For instance,Galen’s acquisition of Synera patch, a product of Nuvo Research, tocommercialize the product in U.S. lidocaine patches market. Furthermore,reimbursement policies in North America related to lidocaine patch aresupporting the market growth.
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Moreover, Asia Pacific LidocainePatches Market is expected to witness fast growth attributed to increasingincidence of herpes zoster in these region and lack of preventive vaccinationagainst shingles, which is expected to boost the lidocaine patches marketgrowth.
Lidocaine Patches Market -Competitive Analysis
This market is highly fragmented,with the presence of Mylan Pharmaceuticals Inc., Endo Pharmaceutical Inc., TevaPharmaceutical, Inc., Teikoku Pharma USA, Hisamitsu Pharmaceuticals Co. Inc.,Galen US Inc., Sorrento Therapeutics, Inc. and Actavis Labs UT Inc. marketplayers.
Manufacturers are focused onacquisition of complementary companies to enter the market with advancedproducts in lidocaine patches. For instance, in 2013, Galen entered into aproduct acquisition and license agreement with Nuvo Research Inc.pharmaceutical company dedicated to building a portfolio of products for thetopical treatment of pain. Acquisition offers exclusive rights to market andsell Nuvo's Synera patch throughout the U.S. for its current indication. Underthese agreement Nuvo Research Inc. will receive royalties of 10% of net sales.
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