About Benzocaine
Benzocaine is the anesthetic agent which is useful for topical applications. It is the derivative of procaine and poorly soluble. It remains at the area of application and does not gets absorbed into the systemic circulation easily. Moreover, it is one of the ingredient of various over the counter ointments. In addition, it is used as a pain reliever in skin irritations, sore throat, sunburn, teething pain, hemorrhoids, cough drops and in surgical anesthesia.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market for Benzocaine is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Benzocaine market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer (United States), Reckitt Benckiser (United Kingdom), Cetylite Inc (United States), Merck KGaA (Germany), Aceto Corporation (United States), Alfa Aesar (India), Penta Manufacturing Company (United States), Pure Chemistry Scientific (United States), Oakwood Products (United States) and Indofine Chemical Company (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Jiutai Pharmaceutial (China), Changzhou Sunlight Pharmaceutical (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Benzocaine market by , Application (Cosmetics, Anesthetic and Others) and Region.
On the basis of geography, the market of Benzocaine has been segmented into Asia Pacific (China, Japan, India, Australia), Europe (Germany, United Kingdom), North America (United States). If we see Market by Form, the sub-segment i.e. Spray will boost the Benzocaine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Purity, the sub-segment i.e. 98% will boost the Benzocaine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing R&D Activities in Healthcare Sector
Market Growth Drivers:
Increasing usage of pain killer are fueling the market growth. The increasing tensions are increasing the usage of pain killers. In addition, rise in geriatric population is growing the usage of anesthesia in hospitals, clinics and others. Hence, it is creating a huge platform for the market growth.
Challenges:
Regulations Across the Globe Tends to Constrain the Growth of the Market
Restraints:
Over Application may lead to the Risk of Pulmonary Aspirations
Opportunities:
Increasing Geriatric Population is contributing towards the Market Growth and Rising Research and Development
Market Leaders and their expansionary development strategies
In December 2021, Pfizer Inc. and Arena Pharmaceuticals, Inc.announced that the companies have entered into a definitive agreement under which Pfizer will acquire Arena, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases.
In March 2023, The Consumer Healthcare Products Association’s (CHPA) Educational Foundation announced the launch of HealthInHand.org, its rebranded online destination and go-to resource for information on self-care products. Formerly called KnowYourOTCs.org, the newly rebuilt and renamed website provides additional content beyond just over-the-counter (OTC) medicines, covering both dietary supplements and consumer medical devices for a more wholistic focus on consumer healthcare.
FDA warned that over-the-counter (or OTC) oral drug products containing benzocaine should not be used to treat infants and children younger than 2 years.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.