ID: MRFR/HC/7097-HCR | 90 Pages | Published By Kinjoll Dey on March 2023
Pain Patch Market to register a CAGR of 4.80% and reach a value of USD 21324 Million by 2030.
The pain patch market is expected to reach USD 21324 Million by 2030 at 4.80% CAGR during the forecast period 2022-2030
Pain patches are the transdermal therapeutic system (TTS), which contain active substances that are absorbed by the skin and distributed into the body through the bloodstream.
The companies involved in developing pain patches develop pain patches for different therapeutic applications such as neurological pain, arthritis, osteoporosis, and others. For instance, in June 2019, NanoVibronix a medical device company announced they are planning to launch of CBD infused patch in combination with cream for the PainShield system a therapeutic ultrasound product used for pain management. Additionally, in August 2015 Mylan N.V. launched Lidocaine Patch 5%, a generic version of Endo Pharmaceutical's Lidoderm for post-herpetic neuralgia (PHN). The launch of new products and technology by companies is also projected to boost the pain patch market growth.
Increasing demand for easy to use pain management product drives the pain patch market.
Pain Patch Market Segmentation
By Mode of Administration
By Therapeutic Use
By End Users
Pain Patch Market Key Players
|Market Size||21324 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Mode of Administration, Therapeutic Use and End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LTS Lohmann Therapie-Systeme AG (Germany), (US), Mylan N.V.(US), Pfizer, Inc. (US), Teva Pharmaceutical Company (Allergan Plc (Actavis)) (Israel), Endo Pharmaceuticals Inc (Israel), Hisamitsu America, Inc. (America), Johnson & Johnson (US), Teikoku Seiyaku Co., Ltd (Japan), Sanofi (France), NICHIBAN Co (Japan), The Mentholatum Company (US)|
|Key Market Opportunities||
|Key Market Drivers||
The global pain patch market is expected to rise to USD 21324 Million by 2030.
Global pain patch market is expected to exhibit a strong 4.80% CAGR over the forecast period from 2022 to 2030.
The growing demand for effective pain management techniques is the major driver for the pain patch market.
The Americas hold the largest share in the global pain patch market.
Leading players in the pain patch market include Pfizer, Mylan NV, and Sanofi, among others.