LONDON--(BUSINESS WIRE)--The global legal cocaine market size is expected to grow by 1.27 thousand oz as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Legal Cocaine Market Analysis Report by Application (Surgical and Recreational) and Geography (Europe, North America, APAC, and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the growing demand for pharmaceutical-grade cocaine. In addition, the rising number of countries decriminalizing and legalizing cocaine is anticipated to boost the growth of the legal cocaine market.
Cocaine is frequently used as a topical anesthetic during outpatient procedures. Cocaine is used by healthcare professionals to temporarily numb the lining of the mouth, nose, and throat before certain medical procedures like biopsy, stitches, and wound cleaning. Cocaine also causes blood vessels to narrow, which helps in decreasing bleeding and swelling from the procedure. The legal cocaine used during medical procedures is available in the form of a topical cocaine hydrochloride solution, which comes in three different concentrations of 1%, 4%, and 10%. Cocaine is ranked among the strongest anesthetics and vasoconstrictors, which makes it an ideal option for use during sinus surgery as well as nasal procedures where bleeding and pain may pose as major challenges. Therefore, the growing demand for pharmaceutical-grade cocaine is expected to drive the growth of the legal cocaine market significantly during the forecast period.
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Major Five Legal Cocaine Companies:
Bio-Techne Corp. has business operations under various segments such as protein sciences, and diagnostics and genomics. The company offers cocaine hydrochloride which is an inhibitor of monoamine transporters.
Lannett Co. Inc.
Lannett Co. Inc. is involved in the production and distribution of generic pharmaceutical products. The company offers Cocaine Hydrochloride Nasal Solution, a branded local anesthetic product, which is FDA approved.
Mallinckrodt Plc operates its business through various segments such as specialty brands and specialty generic. The company offers cocaine hydrochloride USP CII.
Merck & Co. Inc.
Merck & Co. Inc. has business operations under segments such as pharmaceuticals and animal health. The company offers cocaine for medicinal applications such as local anesthetic.
Stepan Co. operates its business through three segments: surfactants, polymers and specialty products. The company supplies cocaine to pharmaceutical companies for use in medicine.
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Legal Cocaine Application Outlook (Revenue, thousand oz, 2020-2024)
- Surgical - size and forecast 2019-2024
- Recreational - size and forecast 2019-2024
Legal Cocaine Regional Outlook (Revenue, thousand oz, 2020-2024)
- Europe - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- ROW - size and forecast 2019-2024
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