[2021] Benzocaine Market Size Worth US$ 155.3 Million at a CAGR of 2.70 % by 2027, Finds Coherent Market Insights

SEATTLE, April 14, 2021, (PHARMIWEB) — Overview:

Benzocaine, also known as americaine or anaesthesin, belongs to the benzoic acid esters family of organic compounds. It is a medicinal ingredient with a wide variety of therapeutic properties. It is used to treat sexual issues like premature ejaculation and as a topical anaesthetic for a number of conditions like mouth and esophageal ulcers. In dental diseases such as tooth decay and dental caries, as well as skin irritation such as vaginal irritation in females, it is used as a pain reliever. Ethyl 4-aminobenzoate is the chemical name for benzocaine API, which is produced in solid physical form and is slightly soluble in water.

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Covid-19 Impact:

COVID-19 has spread to over 100 countries worldwide since its outbreak in December 2019, causing the World Health Organization to declare it a public health emergency. Globally, as of 7:34pm CET, 17 March 2021, there have been 120,383,919 confirmed cases of COVID-19, including 2,664,386 deaths, reported to WHO. As of 15 March 2021, a total of 363,691,238 vaccine doses have been administered.

Covid-19 has affected every industry in the world, including the global benzocaine market, in the following ways: by directly impacting supply and demand; by disrupting distribution channels; and by having a financial effect on industries and financial markets.

Furthermore, regulating bodies impose a range of guidelines during the processing of active pharmaceutical ingredients in order to prevent the spread of COVID-19 and to minimise contamination of active pharmaceutical ingredients during the manufacturing process. The following are the guidelines:

Drivers:

Rise in the cases of dental conditions such as dental caries, periodontal diseases, and oro-dental trauma in adults is expected to propel growth of the benzocaine market. For instance, according to a study released by the World Health Organization in 2017, about 2.3 billion people worldwide suffer from dental diseases such as dental caries and pro-dental trauma. Moreover, according to the same source, approximately 530 million children were suffering from dental diseases such as tooth decay and gum diseases globally in 2017.

Rise in the cases of oral ulcers, also known as recurrent aphthous ulcers, is also expected to fuel growth of benzocaine market. According to a study published by the US National Library of Medicine in 2018, approximately 5-60 percent of people suffer from recurrent aphthous ulcers each year, with 50 percent of people experiencing mouth discomfort and pain as a result of the ulcers.

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Restraints:

Benzocaine has less effective time of action only for 10-20 minutes after topical application and this factor is expected to hinder growth of benzocaine market.

Market Trends

During the COVID-19 public health emergency, drug manufacturers should follow the following current good manufacturing practise (CGMP) regulations and guidelines about the restriction of sick workers from production areas, according to the U.S. Food Drug and Administration Report June 2020.

Market Taxonomy:

The global benzocaine market by purity, is segmented into:

• 95%
• 98%
• Others

By Indication:

• Skin Irritation
• Wounds
• Ulcers
• Hemorrhoids
• Others

 By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

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Regional Analysis:

North America is expected to witness significant growth in benzocaine market, owing to key companies focusing on product launches and approvals. For instance, in 2019, Church and Dwight, Co. launched RepHresh Cooling Relief spray with active ingredient benzocaine for the treatment and relief from vaginal irritation caused in females due to urinary tract infections. RepHresh Cooling Relief Vaginal Anti-Itch Spray will be supplied as 15mL tubes providing up to 60 uses throughout in the U.S.

Competitive Section:

Key players involved in benzocaine market are abcr GmbH, Indofine Chemical Co Inc, Jinzhou Jiutai Pharmaceutical Co., Ltd, TCI Chemicals (India) Pvt. Ltd, Merck KGaA, ACETO Corporation, Alfa Aesar, Penta International Corporation, Changzhou Sunlight Pharmaceutical Raw Material Co., Ltd, Fengchen Group Co., Ltd, and Mahendra Chemicals.

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

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