In 2022, it is anticipated that sales of non-opioid pain patches market will reach US$ 3.3 billion. By 2029, the market is projected to have grown at a robust 4.1% CAGR to reach US$ 4.4 billion.
Due to the potential for addiction and safety concerns associated with alternative opioid pain relievers, non-opioid pain patches have recently attracted the interest of major industry participants. Governments and regulatory authorities are also promoting non-addictive alternative medicines for the management of acute and chronic pain.
Leading industry players in the non-opioid pain patches market are tapping this opportunity by allocating significant investments towards the R&D of novel transdermal non-opioid pain technologies. Continuous innovation in these novel drugs is expected to drive the non-opioid pain patches market in the decade ahead.
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Key manufacturers operating in the market are offering a wide range of products such as lidocaine patches, diclofenac patches, methyl salicylate patches, capsaicin patches, ketoprofen patches, and others. Owing to the non-addictiveness of non-opioid pain therapeutics, there has been increasing demand for non-opioid pain patches, creating opportunity for the growth of the non-opioid pain patches market.
FMI – a well-established name in the market research domain – forecasts that, the non-opioid pain patches market will experience a major upturn post 2025, crossing the US$ 4 Billion mark by 2029.
That being said, the market is likely to witness decline in the near term due to the novel coronavirus (COVID-19) pandemic. The impact of the pandemic has been prominent in China, where the virus originated, and Europe – Spain, Italy, and France. Consequently, governments in these regions have imposed total lockdowns, leading to logistic nightmares, and gradual exhausting of existing non-opioid pain patches.
“Rising demand for safe and alternative chronic pain therapeutics, and supportive government policies, are anticipated to shape the future of long-term acting transdermal non-opioid analgesic patches.”
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Key Takeaways of Non-opioids Pain Patches Market Study
- In terms of product type, the lidocaine patches segment is expected to capture over 65% of revenue share in the non-opioid pain patches market.
- Owing to superior topical effectiveness with minimal side-effects and prolonged transdermal drug release, lidocaine patches are the most preferred product type.
- In terms of distribution channel, hospital pharmacies and retail pharmacies & drug stores are expected to collectively hold over 70% of total value in the non-opioid pain patches market during the forecast period.
- North America is the highest revenue generating market by region, due to high R&D projects and conducive regulatory environment for non-opioid pain therapeutics. Europe is expected to offer lucrative opportunities, owing to the large aging population and increasing per capital healthcare expenditure.
Strategic Collaborations – Key Differentiating Strategy Followed by Leading Manufacturers
Leading manufacturers in the non-opioid pain patches market are focusing on external development collaboration to innovate novel therapeutics, in a bid to sustain market competition. For instance, in April 2021, Seattle-based Kineta Chronic Pain collaborated with Genentech to develop a non-opioid drug for the treatment of chronic pain. The underdevelopment drug is α9/α10 nicotinic acetylcholine receptor (nAChR) antagonists, a novel target for the treatment of chronic neuropathic pain.
Non-opioid Pain Patches Market by Category
Product Type:
- Lidocaine Patches
- Diclofenac Patches
- Methyl Salicylate Patches
- Capsaicin Patches
- Ketoprofen Patches
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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