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Market Overview:

Pain-relief patches also known as pain patches can be easily purchased from pharmacies. They are available in different types, however, most of the pain patches are used for managing both short-term and long-term pain. This clearly means that a pain patch can be prescribed for both acute and chronic pain conditions. This flexibility and effectiveness helps the companies in the global market for pain patch grow as the demand for these products remains strong throughout the year, and its easy availability has given more boost to the market.

According to MRFR analysis, the global Pain Patch Market Size is expected to register a CAGR of 4.8% during the forecast period of 2019 to 2025 and is likely to be valued at USD 29.5 billion by 2025.

 

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A pain patch when placed on the skin helps the skin absorb a certain amount of medication which helps prevent or reduce pain. The medication easily gets absorbed into the bloodstream, however the type of medication and patch prescribed by physicians may vary depending on the actual need of the patients and levels of the pain. Prescription based pain patches may include diclofenac epolamine, an anti-inflammatory nonsteroidal drug, a local anesthetic known as lidocaine, and opioid pain medication.

 

Key Players:

  • LTS Lohmann Therapie-Systeme AG
  • NanoVibronix
  • Mylan N.V
  • Pfizer
  • Teva Pharmaceutical Company
  • Endo Pharmaceuticals Inc
  • Hisamitsu America
  • Johnson & Johnson
  • Teikoku Seiyaku Co
  • Sanofi
  • NICHIBAN Co
  • The Mentholatum Company

 

Market Segmentation:

 

  • For the scope of research, analysts have segmented the market based on type, mode of administration, end users, and therapeutic use.
  • Based on type, the market has been segmented into opioid and no-opioid.
  • By mode of administration, the market is divided into microneedle patches and active delivery.
  • Based on the therapeutic use, the market has been segmented into cancer, smoking cessation neurological disorders, and others.
  • By end users, the global pain patch market segments include hospitals and clinics, home care, and others.

 

Regional Overview:

 

Industry experts have analyzed the global pain patches market at different levels. The report brings information from across the world and provides key insights into regional markets from the Americas, which is the largest market in the world for pain patches. The growth here is due to an increasing number of patients with chronic diseases and spinal injury. The report also covers the European market where demand for pain patches is on the rise. Other regional markets covered in the report are Asia-Pacific and the Middle East and Africa. For each of these regions, analysts have also presented country-level trends, predictions, and market status details along with profiling of key players present in the global market.

 

Industry News:

 

The draft guidance by FDA details the information that needs to be contained in case of a new drug application for opioid analgesics. The FDA will also take into account the public health effect of such opioid analgesic drugs. The new guidelines will affect the approval decision and will also require a deeper inspection into the properties of the drug.

 

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.