Growing Demand for Long-Lasting Pain Relief Drives Growth Accelerated by Pain Patch Market

 

Pain patches, also known as topical analgesics, provide localized pain relief for conditions like back pain, arthritis pain, and post-operative pain. They contain ingredients like lidocaine, diclofenac, or other analgesics that are absorbed through the skin and block pain signals near the application site. This non-invasive option offers effective and convenient pain relief without the side effects of oral medications.

The global Pain Patch Market is estimated to be valued at US$ 5.29 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: The demand for long-lasting pain relievers is a key factor propelling growth in the pain patch market. As pain patches gradually release medications through the skin over 12-72 hours, they provide consistent relief and allow patients to avoid frequent dose schedules. This extended duration of action addresses the need for therapies that provide round-the-clock coverage for chronic pain. Their convenience compared to creams or gels also enhances patient compliance with prescribed treatment regimens. Rising prevalence of musculoskeletal conditions worldwide is expected to further augment the demand for topical analgesics delivered via patches.

Segment Analysis
The global pain patch market is dominated by the neuropathic pain segment. Neuropathic pain arises due to damaged or dysfunctional nerves and accounts for over 30% of the total market share. It is the dominating segment owing to the increasing prevalence of neuropathic disorders like diabetic neuropathy and post-herpetic neuralgia.

Key Takeaways
The global pain patch market is expected to witness high growth over the forecast period of 2023 to 2030 driven by the increasing geriatric population suffering from various neuropathic pain conditions. The growing burden of diseases like arthritis and diabetic neuropathy are also expected to propel the market growth.

Regional analysis: North America currently dominates the pain patch market with the highest market share of over 35% in 2024. This is attributed to the rising prevalence of chronic pain conditions like lower back pain and consistent adoption of innovative pain relief products in the region. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period owing to the improving access to healthcare facilities and increasing healthcare expenditures in countries like China and India.

Key players: Key players operating in the pain patch market are Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson, Pfizer Inc., Novartis AG, Mylan N.V., Endo Pharmaceuticals, Teikoku Pharma USA, Inc., Acorda Therapeutics, Ibsa Institut Biochimique SA, and Alembic Pharmaceuticals. These players are focused on manufacturing pediatric-specific formulations and developing generic versions of pain patches to capitalize on the lucrative growth opportunities.

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