Pain Patch Market is Grinded to provide a Stagnant CAGR of 4.8% During Forecast 2019-2025

Market Highlights:

Pain patches are used to manage pain caused due to neurological diseases, injury, cancer pain, and others. The pain patches are transdermal drug delivery devices that release the active substance or opioid into the skin to reduce the pain.

According to MRFR analysis, the global Pain Patch Market 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.

The unmet need by oral drugs or injection increases the demand for transdermal route for drug delivery for pain management.

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

Segmentation:

·         The global pain patch market has been segmented based on type, mode of administration, therapeutic use, and end users.

·         The market, based on type, has been divided into opioid and non-opioid. Opioid is further sub-segmented into immediate-release and extended-release. On the bases of type opioid is likely to hold the maximum market share in the global pain patch market.

·         The global pain patch market on the basis of mode of administration has been segregated into microneedle patches and active delivery systems with patches.

·         On the basis of therapeutic use, the market is segmented into neurological disorder, cancer, smoking cessation, and others.

·         The end user segment of the market consists of hospitals and clinics, home care, and others. The home care segment is expected to hold the largest share of the market as there is a repetitive purchase of medicines from these locations.

Regional Analysis:

Americas: Americas are anticipated to hold the largest market share in global pain patch owing to the increasing patient population suffering from chronic pain, back pain, and other disorders such as cancer, neurological pain, and others.

North America: The North American market for pain patches is growing due to the increasing research and development in medical device companies, presence of healthcare facilities, and also the growing healthcare expenditure in this region drives the market growth in Americas.

Latin America: The development of the treatment methods and the launch of new pain management products drive the market growth in Latin America.

Europe: By region, Europe stood the second largest market owing to the presence of a large number of healthcare companies, increasing healthcare expenditure, and acceptance of new products and technology by the companies. Also, the decreasing preference for oral medication for pain management boosts the demand for pain patches.

UK: The increase in research and development in medical device companies across the globe to develop pain management products. Also, the decreased use of oral opioids for pain management increases the demand for pain patches.  

Germany: Germany holds a prominent share of the European pain patch market due to the technological advancements in the healthcare sector and rising healthcare expenditure.