According to the latest report published by Credence Research, Inc. “Non-Opioid Pain Patch Market - Growth, Future Prospects, and Competitive Analysis, 2017-2025,” the global non-opioid pain patch market was valued at US$ 3.6 billion in 2016 and is expected to reach US$ 5.0 billion by 2025, increasing to CAGR by 3.5 percent from 2017 to 2025.
Market Insights
Pain is reported to be the main reason for a public visit to any emergency department of any medical center. Various treatment options are available to treat chronic and acute pain, starting with medication, physical therapy, acupuncture, exercise, or counseling. According to the Institute of Medicine of the National Academies, more than 100 million Americans suffer from chronic pain, much more than other health problems.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/non-opioid-pain-patch-market
The non-opioid pain patch is a pain relief treatment. The pain patch, when placed on a painful area, releases the content of the medicine through the surface of the skin and blocks the transmission of the pain signal. Patches can be customized according to the area used. Newer, more innovative and more effective non-opioid pain patches are being developed to counter opioid abuse, which in turn stimulates market growth of non-opioid pain patches.
The growing elderly population, increasing incidences of chronic and acute pain, rising opioid abuse and death from an overdose of opioids are key drivers of the non-opioid pain patch market. Lower back pain is the most common condition followed by migraine or headache and neck pain. This rising prevalence of chronic pain is one of the main drivers of the non-opioid pain patch market. Increasing adoption of technologically advanced products, health expenditure on R&D to develop innovative products will boost the growth of the non-opioid pain patch market. However, the lack of awareness in developing countries and demand for oral medication are a few of the major challenges associated with the non-opioid pain patch market.
The non-opioid pain patch market is classified on the basis of patch type and the classification are of below types:
- Lidocaine Patches
- Diclofenac Patches
- Capsaicin Patches
- Methyl Salicylate Patches
- Others
The non-opioid pain patch market is further segmented on the basis of distribution channels and the sub-segments are as follows:
- Hospital pharmacy
- Retail pharmacy/Independent pharmacy
- E-commerce/ Online pharmacy
The hospital pharmacy holds the major market share, however retail pharmacy and online pharmacy are anticipated to face significant growth in forecasting periods.
Geographically, in the year 2016, North America is expected to have a major share of the Non-opioid pain patch market followed by Europe. The growth of the non-opioid pain patch market is majorly driven by the fact of opioid abuse. According to the study of the Centers for Disease Control and Prevention (CDC), almost 91 people die every day from opioid overdose including prescribed opioid drugs. This fact, in turn, drives the non-opioid pain patch market. The healthcare expenditure for the development of new products and patient health awareness attribute to the dominance of the North American region. The huge population suffering from neurologic disorders, increasing the geriatric population and developing healthcare infrastructure fuel the growth of the non-opioid pain patch market in the Asia-Pacific region and it is expected to face significant growth in upcoming years due to the growing trend of health awareness.
Market Competition Assessment:
The non-opioid pain patch market currently contains multiple companies having their products marketed. The manufacturers are developing new innovative products and the market is growing due to the high adoption and accessibilities of these products. The companies include Teh Seng Pharmaceutical Mfg. Co., Ltd., Endo Pharmaceuticals Inc., Teikoku Seiyaku Co., Ltd., Allergan, Pfizer Inc., Hisamitsu Pharmaceutical Co. Inc., GlaxoSmithKline plc., Mylan N.V., IBSA Institut Biochimque SA, Inc., Acorda Therapeutics and others.
Key Market Movements:
- The rising prevalence of neurological disorder, chronic and acute pain, growing elderly population, increasing adoption of technologically advanced products, healthcare expenditure for R&D to manufacture newer and innovative products, increasing opioid abuse boost up the growth of non-opioid pain patch market.
- The faster and effective outcome from oral medication, lack of product awareness is few of the challenges for the non-opioid pain patch market.
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58686
Market Segmentation
By Patches Type
- Lidocaine Patches
- Diclofenac Patches
- Capsaicin Patches
- Methyl Salicylate Patches
- Others
By Distribution Channel Type
- Hospital pharmacy
- Retail pharmacy/Independent pharmacy
- E-commerce/Online pharmacy
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58686
Medium Blog: Non-Opioid Pain Patch Market
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