Market Trends of Lidocaine Hydrochloride Industry
This section covers the major market trends shaping the Lidocaine Hydrochloride Market according to our research experts:
Dental Procedure Segment is Expected to Hold Significant Share in the Market During the Forecast Period
The dental procedure segment is expected to record a lucrative CAGR during the forecast period. This is primarily attributed to the extensive usage of lidocaine hydrochloride injectables in different dental surgical procedures. For instance, the article published in Nature Journal in July 2021 mentioned that the buccal infiltration technique using lidocaine plus lingual anesthesia might be a good alternative in anesthetizing mandibular premolar teeth before their extraction. An increase in the prevalence of dental disorders, coupled with the growing number of surgeries performed, is the key driving factor for this segment. For instance, as per the WHO data published in March 2022, severe periodontal diseases were estimated to affect around 14% of the global adult population. Similarly, the research study published in Frontiers in April 2021 mentioned that the overall pooled prevalence of dental caries was found to be 45.7% in East Africa. Such a high prevalence of various dental disorders is expected to drive the demand for lidocaine hydrochloride during treatment procedures, thereby boosting segment growth.
Additionally, the increasing number of dental consultations is also expected to contribute to the growth of the studied segment. For instance, the data published by NHS in 2022 mentioned that in England, nearly 15.8 million adults visited an NHS dentist till December 2021, and over 5.1 million children visited an NHS dentist by December 2021. Thus, the rise in dental visits is also expected to contribute to the growth of the studied segment, as lidocaine hydrochloride is used as a local anesthetic in dental procedures.
North America is Expected to Hold Significant Share in the Market During the Forecast Period
North America is expected to show healthy growth in the market over the forecast period owing to the presence of major market players. The efficiency of lidocaine hydrochloride in various surgical procedures is expected to drive the growth of the market in this region. For instance, the data published by NIH in June 2021 mentioned that lidocaine helps numb the area during and after the liposuction surgery, and it may be the only anesthesia needed for the procedures. Such usage of lidocaine in surgical procedures is expected to contribute to the growth of the market in this region, attributed to the high volume of surgeries.
Furthermore, the growth of the market can be attributed to the increasing volume of various surgical and cosmetic procedures, advancements in surgical procedures, and the growing use of lidocaine hydrochloride in postoperative pain management. For instance, according to the aesthetic society report published in 2022, about 458,628 liposuction procedures, 362,346 breast augmentation procedures, and 146,761 breast implant removal procedures were performed among women in the United States in 2021. Also, as per the OECD data published in December 2022, in Canada, approximately 54,991 hip replacement surgical procedures were performed in 2021. Moreover, the expanding geriatric population is anticipated to drive the number of surgical procedures performed in the region, thereby promising growth over the forecast period. Thus, the factors mentioned above are expected to drive the market's demand for development of the market during the forecast period in this region.
