According to latest research by Future Market Insights, Pain Patches Market will experience substantial growth during the forecast period 2021-2031. Demand for pain patches will elevate in the course of forecast period while experiencing a steady growth. Increased demand pain patches to encounter the pain resulted from various medical conditions represents lucrative growth for pain patches market.
What is Driving Demand for Pain Patches?
Pain patch is a medicated adhesive patch that is used to relieve the pain by placing it on the skin. Pain patch uses a transdermal route and therefore provides an advantage of controlled delivery of medication as compared to other routes of administration. This advantage may result in increasing the sales of pain patches during the forecast period.
Increasing number of accidents that result in severe injury is expected to drive the growth of pain patches market across the globe. According to the Association for Safe International Travel, in 2020, approximately 4.4. million individuals were severely injured to require medical attention in the U.S. Moreover, increasing number of sports related injuries will also lead to a rise in demand for pain patch market.
In addition, changes in lifestyle and emergence of more office related jobs that needs continuous sitting in one position for too long may result in back related ailments among others. This will also lead to significant growth in the pain patches market.
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Increasing Prevalence of Arthritis Expected to Augment the Growth of Pain Patches Market
Increasing chronic and acute pain related diseases is expected to reflect a positive growth for pain patches market. One such disease is arthritis which results in severe joint pain. The increasing prevalence of arthritis mainly is expected to increase the demand for pain patches. According to CDC, in 2018, an estimated 22.7% of the U.S. population of adults had doctor diagnosed arthritis.
U.S. and Canada Pain Patches Market Outlook
U.S. and Canada are among the largest market for pain patches market making North America a dominant player. The adoption of transdermal pain patches has increased in North America for pain management of certain conditions, which includes cancer. Pain patches are quite effective as compared to pain killers as they deliver pain management drugs at a predetermined rate across the dermis and achieve a local or a systemic effect.
This indicates that high prevalence of cancer will lead to rise in demand for pain patches market. According to National Cancer Institute, in 2018 an estimated 16,353,421 people living with cancer of any site in the U.S.
Europe Demand Outlook for Pain Patches
Increasing usage of pain patches for pain management for non-cancer conditions is expected to drive the growth of the pain patches market in this regions. Additionally, the increasing research and development funding and increasing focus of the European governments on the healthcare system also represents steady growth for pain patches market.
Moreover, favourable reimbursement policies in many European countries will also boost further growth of the pain patches market.
Who are the Key Manufacturers and Suppliers of Pain Patches?
Some of the leading manufacturers operating in the pain patches market include
- Viatris, Inc.
- Johnson & Johnson Services, Inc.
- Teva Pharmaceutical Industries Ltd.
- Sanofi S.A.
- Hisamitsu Pharmaceutical Co., Inc.
- GlaxoSmithKline Plc.
- Novartis AG
- Nichiban Co., Ltd.
- Teikoku Seiyaku Co, Ltd.
- Mentholatum Company.
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