SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global benzocaine market is estimated to be valued at US$ 128.9 million in 2020 and is expected to exhibit a CAGR of 2.70 % over the forecast period (2020-2027).
Key Trends and Analysis of the Global Benzocaine Market:
Increasing prevalence of hemorrhoids in adults globally is a major factor that is expected to drive growth of the benzocaine market over the forecast period. According to US National Library of Medicine report published in 2019, approximately 4 to 8% of individuals are suffering from hemorrhoids and only one third percent of individuals undergo treatment in the U.S. Moreover, according to the same source, approximately 13-36 % of individuals in the U.K. were suffering from hemorrhoid in 2019.
Moreover, increasing prevalence of urinary tract infection in adult females globally is leading to increasing use of local anesthetics such as benzocaine for relieving vaginal irritation caused due to this infection. Such factors are driving growth of the global benzocaine market. According to US National Library of Medicine report Published in 2019, the prevalence of UTI in females over 65 years of age is approximately 20% and prevalence of UTI is approximately 50% to 60% in adult women in the US.
Among region, North America benzocaine market is expected to register higher growth rate, as key companies are focusing on benzocaine API product launches and product approvals for the treatment of sexual disorders in males. For instance, in 2019, Veru Healthcare, a biopharmaceutical company focused on urology and oncology, announced the launch of PREBOOST (topical 4% benzocaine wipes) in the U.S. PREBOOST wipes help in the prevention of premature ejaculation (PE) in males.
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Key Market Takeaways:
The global benzocaine market is expected to exhibit a CAGR of 2.70 % over the forecast period, owing to increasing prevalence of hemorrhoids and urinary tract infections in females, and key companies focusing on benzocaine API product launches for the treatment of various diseases such as hemorrhoids and anal fissures.
Competitive Landscape:
Key players operating in the global benzocaine market include TCI Chemicals (India) Pvt. Ltd, Merck KGaA, ACETO Corporation, Alfa Aesar, Penta International Corporation, abcr GmbH, Indofine Chemical Co Inc, Jinzhou Jiutai Pharmaceutical Co., Ltd, Changzhou Sunlight Pharmaceutical Raw Material Co., Ltd, Fengchen Group Co., Ltd, and Mahendra Chemicals.
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Market Segmentation:
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Global Benzocaine Market, By Purity :
- 95%
- 98%
- Others
-
Global Benzocaine Market, By Indication :
- Skin Irritation
- Wounds
- Ulcers
- Hemorrhoids
- Others
-
Global Benzocaine Market, By Region:
-
North America
- U.S.
- Canada
-
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
-
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
-
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
-
Middle East
- GCC
- Israel
- Rest of Middle East
-
Africa
- South Africa
- Central Africa
- North Africa
-
North America
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