Overview and Scope
A pain patch is a transdermal medication used to manage acute and chronic pain. A pain patch relieves severe pain, such as chronic pain or pain after surgery, in patients by delivering regular doses of medicine into the bloodstream through the skin.
Sizing and Forecast
The pain patch market size has grown strongly in recent years. It will grow from $4.08 billion in 2023 to $4.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased acceptance of non-invasive pain management techniques, prevalence of road accidents, increased chronic illness, increased post-surgery pain, increased prevalence of trauma and injuries.
The pain patch market size is expected to see strong growth in the next few years. It will grow to $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing adoption of opioids for pain management, increasing demand for targeted pain relief with minimal systemic side effects, changes in lifestyle, emergence of more office-related jobs, increasing need for convenient and easy-to-use effective option. Major trends in the forecast period include innovative solutions, incorporating advanced drug delivery technologies, key players’ partnerships, technological advancements, strategic collaborations.
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Segmentation & Regional Insights
The pain patch market covered in this report is segmented –
1) By Type: Opioid, Non-Opioid
2) By Route Of Administration: Metered Dose, Microneedle Patches
3) By Therapeutic Use: Pain Relief, Anesthesia, Smoking Cessation, Cough Suppression, Diarrhea Suppression
4) By Distribution Channel: Online Pharmacies, Retail Pharmacies, Hospital Pharmacies
North America was the largest region in the pain patch market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pain patch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising pain disorders are expected to propel the growth of the pain patch market going forward. Pain disorders refer to any physical condition with pain as the primary symptom. Psychological stress, inflammatory diseases, and physical trauma or injury cause pain disorders. Pain patches treat pain disorders by delivering medication directly through the skin into the bloodstream through a controlled and steady release of drugs over a prolonged period. For instance, in April 2023, the Centers for Disease Control and Prevention, a US-based national public health agency, the prevalence of chronic pain in adults increased to 21.8% in 2021 from 20.5% in 2020. Therefore, a rising pain disorders will drive the growth of the pain patch market.
Key Industry Players
Major companies operating in the pain patch market report are CVS Health Corporation, Walgreens Boots Alliance Inc., Pfizer Inc., Bayer AG, Novartis AG, Sanofi S.A., GlaxoSmithKline plc, Rite Aid Corporation, Reckitt Benckiser Group plc, Viatris Inc., Mylan N.V., Smith & Nephew plc, Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Purdue Pharma LP, Hikma Pharmaceuticals plc, Endo International plc, Amneal Pharmaceuticals LLC, Grünenthal Group, Allergan plc, Hisamitsu Pharmaceutical Co. Inc., NICHIBAN Co. Ltd., Teikoku Seiyaku Co. Ltd., Haw Par Corporation, Sorrento Therapeutics Inc., Nanjing Joyful Industrial Co. Ltd., NEXGEL Inc.
The pain patch market report table of contents includes:
1. Executive Summary
2. Pain Patch Market Characteristics
3. Pain Patch Market Trends And Strategies
4. Pain Patch Market – Macro Economic Scenario
5. Global Pain Patch Market Size and Growth
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32. Global Pain Patch Market Competitive Benchmarking
33. Global Pain Patch Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pain Patch Market
35. Pain Patch Market Future Outlook and Potential Analysis
36. Appendix
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