Global Pain Patch Market Size study & Forecast, by Product Type ( Non-Opioid Patches, Opioid Patches) by Type (Prescription Medicines, OTC Medicines), by Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers) and R

Global Pain Patch Market Size study & Forecast, by Product Type ( Non-Opioid Patches, Opioid Patches) by Type (Prescription Medicines, OTC Medicines), by Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers) and Regional Analysis, 2023-2030

Global Pain Patch Market is valued approximately USD 5.01 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.30% over the forecast period 2023-2030. A pain patch, also known as a transdermal patch, is a medicated adhesive patch that is applied to the skin to provide long-lasting pain relief. The patch contains a medication that is gradually released into the bloodstream through the skin, providing a steady and continuous dose of pain medication over a period of several hours or days. Pain patches are commonly used to manage chronic pain, such as pain from arthritis, back pain, or nerve damage. They can also be used to manage acute pain, such as pain after surgery or an injury. The Pain Patch market is expanding because of factors such as increasing prevalence of Arthritis, increase in the number of accident cases globally and increasing prevelance of chronic disorders.

According to Centers for Disease Control and Prevention, in year 2020, there were around 63 million people in US had diagnosed with arthritis which is expected to reach at 78 million by year 2045. Thus, rising prevalence of arthritis is propelling the market growth. Furthermore, chronic pain-producing illnesses such joint problems, neuropathic pain, cancer, and others are more common in older populations. Thus, an increase in chronic pain cases may be a market growth driver. For instance, according to a National Library of Medicine 2021 article, the number of Americans with diabetic neuropathy increased from 30 million in 2019 to 85 million in 2021, which is what is driving the expansion of the pain patch industry. In addition, growing technological advances in medical technology and increase in incidence of sports and work -related trauma injuries is creating lucrative opportunity to the market. However, limited indications and several regulatory Issues stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Pain Patch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of branded products and the region's increasing chronic disease prevalence. According to the CDC, there will be roughly 37.3 million diabetics in the United States in 2020, including 28.7 million diagnosed and 8.5 million undiagnosed cases. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of sports related injuries, geographic expansion of key players.

Major market player included in this report are:
NEXGEL Advanced Hydrogel Solutions
Viatris Inc.
Johnson and Johnson
Teva Pharmaceutical Industries Ltd.
Sorrento Therapeutics Inc.
Hisamitsu Pharmaceutical Co.,Inc.
Endo International plc.
Purdue Pharma L.P.
Amneal Pharmaceuticals LLC
Grunenthal

Recent Developments in the Market:
 In August 2020, The U.S. Food and Drug Administration (FDA) has approved Amneal Pharmaceuticals, Inc., a pharmaceutical manufacturer, for an abbreviated new drug application (ANDA) for a generic version of Lidocaine Patch, 5%. The generic version of Lidoderm Patch, 5% is called Lidocaine Patch, 5%, and it is used to treat post-herpetic neuralgia.
 In January 2021, Hisamitsu Pharmaceutical Co., Inc. announces that a new formulation of transdermal analgesic anti-inflammatory patches called Mohrus Paps XR 120 mg and 240 mg has been approved for a partial change of the approved matters. This was done to lessen the irritation that the presently employed additives created.

Global Pain Patch Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Product Type, Type, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
Non-Opioid Patches
Opioid Patches

By Type:
Prescription Medicines
OTC Medicines

By Distribution Channel:
Hospital Pharmacies
Drug Stores and Retail Pharmacies
Online Providers

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
NEXGEL Advanced Hydrogel Solutions
Viatris Inc.
Johnson and Johnson
Teva Pharmaceutical Industries Ltd.
Sorrento Therapeutics Inc.
Hisamitsu Pharmaceutical Co.,Inc.
Endo International plc.
Purdue Pharma L.P.
Amneal Pharmaceuticals LLC
Grunenthal

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