Global Pain Patch Market Size study & Forecast, by Product Type (Non-Opioid & Opioid Patches), Type (Prescription & OTC Medicines), Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, & Others), Regional Analysis, 2023-2030, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Pain Patch market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Pain Patch market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get the whole report, which includes a chart and more than 100 tables and figures. – Comprehensive Analysis of COVID-19 Market Outbreak Impact and Regional Situation
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Global Pain Patch Market is valued approximately USD 5.01 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.30% over the forecast period 2023-2030. A pain patch, also known as a transdermal patch, is a medicated adhesive patch that is applied to the skin to provide long-lasting pain relief. The patch contains a medication that is gradually released into the bloodstream through the skin, providing a steady and continuous dose of pain medication over a period of several hours or days. Pain patches are commonly used to manage chronic pain, such as pain from arthritis, back pain, or nerve damage. They can also be used to manage acute pain, such as pain after surgery or an injury. The Pain Patch market is expanding because of factors such as increasing prevalence of Arthritis, increase in the number of accident cases globally and increasing prevelance of chronic disorders.
According to Centers for Disease Control and Prevention, in year 2020, there were around 63 million people in US had diagnosed with arthritis which is expected to reach at 78 million by year 2045. Thus, rising prevalence of arthritis is propelling the market growth. Furthermore, chronic pain-producing illnesses such joint problems, neuropathic pain, cancer, and others are more common in older populations. Thus, an increase in chronic pain cases may be a market growth driver. For instance, according to a National Library of Medicine 2021 article, the number of Americans with diabetic neuropathy increased from 30 million in 2019 to 85 million in 2021, which is what is driving the expansion of the pain patch industry. In addition, growing technological advances in medical technology and increase in incidence of sports and work -related trauma injuries is creating lucrative opportunity to the market. However, limited indications and several regulatory Issues stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Pain Patch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of branded products and the region’s increasing chronic disease prevalence along with rising cases of arthritis in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of sports related injuries, geographic expansion of key players.
Major market players included in this report are:
- NEXGEL Advanced Hydrogel Solutions
- Viatris Inc.
- Johnson and Johnson
- Teva Pharmaceutical Industries Ltd.
- Sorrento Therapeutics Inc.
- Hisamitsu Pharmaceutical Co.,Inc.
- Endo International plc.
- Purdue Pharma L.P.
- Amneal Pharmaceuticals LLC
- Grunenthal
Recent Developments in the Market:
In August 2020, The U.S. Food and Drug Administration (FDA) has approved Amneal Pharmaceuticals, Inc., a pharmaceutical manufacturer, for an abbreviated new drug application (ANDA) for a generic version of Lidocaine Patch, 5%. The generic version of Lidoderm Patch, 5% is called Lidocaine Patch, 5%, and it is used to treat post-herpetic neuralgia.
In January 2021, Hisamitsu Pharmaceutical Co., Inc. announces that a new formulation of transdermal analgesic anti-inflammatory patches called “Mohrus Paps XR 120 mg and 240 mg” has been approved for a partial change of the approved matters. This was done to lessen the irritation that the presently employed additives created.
Global Pain Patch Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product Type, Type, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
- Non-Opioid Patches
- Opioid Patches
By Type:
- Prescription Medicines
- OTC Medicines
By Distribution Channel:
- Hospital Pharmacies
- Drug Stores and Retail Pharmacies
- Online Providers
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- What are the key drivers influencing market growth?
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- What are the emerging trends and opportunities in the market?
- Who are the major competitors in the market and what is their market share?
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- What are the technological advancements or innovations shaping the market?
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Key Points Covered in Pain Patch Market Report:
Table of Contents
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Pain Patch Market, by Region, 2020-2030 (USD Billion)
1.2.2. Pain Patch Market, by Product Type, 2020-2030 (USD Billion)
1.2.3. Pain Patch Market, by Type, 2020-2030 (USD Billion)
1.2.4. Pain Patch Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Pain Patch Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Pain Patch Market Dynamics
3.1. Pain Patch Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing prevalence of Arthritis
3.1.1.2. Increase in the number of accident cases globally.
3.1.1.3. Increasing prevelance of chronic disorders
3.1.2. Market Challenges
3.1.2.1. Limited indications
3.1.2.2. Regulatory Issues
3.1.3. Market Opportunities
3.1.3.1. Growing technological advances in medical technology
3.1.3.2. increase in incidence of sports and work-related trauma injuries
Chapter 4. Global Pain Patch Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
……..and view more in complete table of Contents
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