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The Pain Patch Market as a whole, tides-in by different factors taken into context, is more often than not governed by the dynamics of these factors. An important reason is a worldwide pandemic of chronic pain conditions, holding quite a few individuals. Up to date with clinical data, the number of individuals with pains such as arthritis, back pain etc are increasing while demand for convenient and quality product to reduce the pain is also more thus contributing to the growth of the Pain Patch Market.
A break-through in medical sector and the introduction of innovations into pain management field is one of the key factors influencing the market condition. Pharmaceuticals companies and scientists persistence in their work leads to the appearance pain patches that are intended for the administration of analgesic drugs by applying patches on the skin in a regulated manner. Through these improvements, not only pain relief is maximized but also a patient cannot face the painful choices faced by such patients now. Pain management landscape with a lot of dynamics would be among the major of the factors for forecasted market growth.
The demographic conditions, especially in terms of the senior population and diabetes patients, play a key role in the dynamics of the Market j Olympic brands have utilized different strategies to tap into distinct consumer segments and adapt to the rapidly evolving sportswear market. With current population growth trend and aging is kicked in, chronic pain conditions become higher and higher resulting in high demand for pain remedy. Furthermore, the skyrocketing number of individuals dealing with chronic disorders including diabetes and cancer leads to the need for more complex pain management strategies, which, in turn, triggers the market research into the pain treatments for distinct demographic groups.
The health care services output, as well as products accessibility and availability in the market contribute a lot to the health care market's formation. Regions with all encompassing healthcare infrastructure are more plausible for providing reliability to pain patches and holistic pain management services. Alternatively, the regions where healthcare facilities are not readily available are expected to be put under pressure in delivering the pain although the growth may be subject to the opportunities. Better infrastructure efficiencies in healthcare industry increases the chances of positive outcomes of people who are using pain relief drugs and consequently increases the demand of the drugs especially the opioid drugs.
Reimbursement policies and public expenditure on healthcare by the government and insurance companies are vital market factors which in tikz drive the demand for pain patches. An interdealing of rational coverage schemes can be made to trigger patients to select reablity patches options among other pain management alternatives and lead in the treatment adherence line. On the other hand, inappropriate reimbursement or limited coverage services challenging to reach pain relieves options can create limitations on the total market's growth. The economic load of diseases at the root of chronic pain reminds us about the need for efficient reimbursement mechanisms.
Pain Patch Market Highlights:
Pain Patch Market Forecast
The pain patch market is expected to reach USD 23.41 Billion by 2032 at 4.8% CAGR during the forecast period 2023-2032
Market Synopsis
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.
Market Influencer
Increasing demand for easy to use pain management product drives the pain patch market.
Market Drivers
- Increasing demand for easy to use, painless, and convenient mode of pain management drives pain patch market growth.
- The geriatric population, young people, and huge patient groups having problems in swallowing or who are suffering from vomiting or emesis increase the demand for transdermal patches.
- The increasing prevalence of neurological disorders such as Alzheimer's, Parkinson’s disease (PD), and others. Exelon patch distributed by Novartis Pharmaceuticals Corporation is a prescription medicine used to treat the above-mentioned neurological disorder. The growing patient population with a memory problem or other brain-related problems boosts the demand for pain patches.
- In addition, increasing adoption of opioids for pain management related to trauma and injury in severe and in cases of post-surgical pain is driving pain patch market growth.
Market Restraints
- Extended use of patches causing side effects such as vomiting, weakness, allergic reaction hampers the pain patch market growth.
- Availability of alternative pain management products
Pain Patch Market Segmentation
By Type
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Opioid: The opioid segment for pain management is further sub-segmented into, immediate-release and extended-release. The immediate-release patches release the opioid quickly as it comes in contact with skin, but their effect lasts for a shorter period. Whereas extended-release patches release the drug for a longer period. By type, opioid is the largest segment owing to its availability in the pain patch market and increasing demand for pain management.
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Non-Opioid: It is the fastest-growing segment by type. There is an increase in demand for non-opioid pain patches, as it is considered as less addictive and safe. NanoVibronix, a healthcare company, is planning to launch a combination of PainShield and nanoparticle CBD-infused patch/cream as an alternative to opioids for pain treatment.
By Mode of Administration
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Microneedle Patches: Holds the largest segment by mode of administering. There are different types of microneedle patches, such as hollow microneedles, solid microneedles, dissolving microneedles, and others. The availability of different patches increases the demand for this type of pain management products.
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Active Delivery Systems with Patches: pain patch market is the fastest-growing segment. These are active patches works with active systems example, iontophoresis. These patches conduct small current through which active substances are transferred into the body. LTS Lohmann Therapie-Systeme AG offers such type of active patches for pain management.
By Therapeutic Use
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Neurological Disorder: It is the largest segment by therapeutic application. In a neurological disorder, the pain patches are used for Alzheimer's disease, Parkinson's disease, and neuropathic pain.
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Cancer: High doses of opioid patches are used to control their cancer pain.
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Smoking Cessation: The nicotine administration patches reduce the pain in both smokers and nonsmokers.
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Others: The other segment include skincare, spinal pain, neck pain, and others.
By End Users
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Hospitals and Clinics: Hospitals are the primary points for diagnosis and treatment for individuals. The increase in patient visits to hospitals for the diagnosis increases the segmental growth.
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Home Care: Holds the largest market share. The pain patches can be used by the patient itself at home due to the ease of use and convenience.
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Other: This segment includes surgical centers, rehabilitation centers, and others.
By Region
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Americas: The Americas is the largest regional market. An increasing number of chronic diseases, neurological disease, spinal injury, and other health problems is likely to drive the growth of the market during the assessment period. In the Americas, 5 million people are living with Alzheimer’s disease, and the number is expected to grow if not treated. Such a large population suffering from neurological disorder increases the demand for pain patches market in this region.
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Europe: Europe has a large number of healthcare companies providing diagnostic and treatment products for pain management to drive pain patch market growth in this region.
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Asia-Pacific: The fastest-growing regional market for pain patch, Asia-Pacific, has a huge population suffering from back pain, neck pain, and sedentary lifestyle. Also, increasing accidental cases in this region are likely to drive the growth of the pain patch market.
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Middle East & Africa: The developing healthcare infrastructure and growing treatment options for pain management boost the pain patch market growth in this region.
Pain Patch Market Key Players
- 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)
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