Global Market for Pain Management Patches

NEW YORK, June 22, 2020 /PRNewswire/ --

Report Scope:
The current report offers a detailed picture of the pain relief patch market.Opioid and NSAID pain management patches have been analyzed in the report, and patch regulations and demand for addressing different types of pain have been included in the scope of the study.



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The report excludes drugs used in the treatment of hormonal pain. The market size includes both branded and generic drugs.

The report highlights the current and future market potential of pain management patches and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities and trends in the market. The report also covers market projections through 2023, as well as market shares for key market players.

The report details market shares of pain management patches based on drug, major segment, application and geography.

Based on drug, the market is segmented into fentanyl patches, buprenorphine, lidocaine, diclofenac, ketoprofen, capsaicin, methyl salicylate, menthol and others (glycol salicylate, tocopherol acetate, camphor, etc.).

Based on major segment, the market is segmented into over the counter (OTC) and prescription.

Based on category of pain, the market is segmented into acute pain and chronic pain.

By geography, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. Detailed analyses of major countries such as the U.S., Canada, Mexico, Germany, the U.K., France, Spain, Italy, Japan, China, Australia, New Zealand and India are covered in regional segments. For market estimates, data has been provided for the year 2017 as the base year, with forecasts for 2018 through 2023. Estimated values used are based on drug manufacturers' total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Includes:
- 31 data tables and 15 additional tables
- An overview of the global market for pain management drugs used in the form of patches for immediate relief from any type of pain
- Analyses of global market trends, with market data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Assessment of current market size, market forecast, and main driving forces for the pain relief patches market
- Briefing about antihypertensive drugs, their pathophysiology and pathogenesis and major adverse effects of various antihypertensive drugs
- Information on significant products, issues and trends, market influences, regulatory issues and other information affecting the pain relief patches market
- Profile description of major market players including Endo Pharmaceuticals Inc., GlaxoSmithKline PLC, Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson, Novartis AG, Pfizer Inc., and Sanofi

Summary:
The global market for pain management patches was valued at $REDACTED billion in 2017.The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to reach approximately $REDACTED billion by 2023.

Growth of the global market is attributed to factors such as the growing prevalence of cancer,diabetes and other chronic diseases; a strong product regulatory scenario; and strong investment inresearch and development activities by key market players including Hisamitsu Pharmaceutical Co. Inc., Mylan, Teva Pharmaceutical Industries Ltd. and Novartis AG, among others. The increasing incidence of acute and chronic pain and rising geriatric population with osteoporosisrelated
issues are the major factors likely to fuel major markets for pain management patches.

According to the Global Burden of Disease Study 2016, the high prominence of pain and pain-related diseases is the leading cause of disability and disease burden globally.In 2016, the burden of chronic pain increased to REDACTED million people with symptomatic chronic conditions.

The burden of chronic pain is likely to drive the market for pain management patches during the forecast period.

Reasons for Doing This Study
Pain associated with chronic diseases is the leading causes of death worldwide.There has been a rise in acute and chronic pain incidence rates among patients suffering from chronic diseases such as cancer, diabetes, pancreatitis, spine disease, arthritis and autoimmune diseases.

The quick implementation of new designs for pain management patches—which overcome pain by supplying an adequate dosage of drugs to the surface of body—by regulatory agencies in recent years is likely to have a profound effect on the market growth of pain management patches.

Market growth has been spurred by the introduction of differentiated drugs with novel mechanisms of action, such as lidocaine REDACTED% and REDACTED%, fentanyl patches and diclofenac patches.Pharmaceutical companies pursued new launches for pain treatments, as many of them looked beyond currentlyavailable therapies.

These new pain management patches, with novel mechanisms of action or improved delivery systems, will provide powerful new alternatives for currently prescribed pain management patches. But despite increasing demand for quick pain recovery, high costs and side effects from opioids are severely impacting the sales revenue of branded pain management patches.

The report is designed to provide the reader with a background on pain management patches and current factors influencing the market, as well as offering decision makers the tools to make informed choices regarding expansion and penetration in this market.

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