July 20, 2022
According to the research report titled ‘Global Non-opioid Pain Patches Market Size study, by Product Type (Lidocaine Patches, Diclofenac Patches, Methyl Salicylate Patches, Capsaicin Patches, Ketoprofen Patches, Others) by Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global non-opioid pain patches market is anticipated to expand progressively during 2022-2028.
Report findings suggests that increasing incidences of acute and chronic pain conditions as well as rising rate of osteoarthritis are the major growth stimulants for global non-opioid pain patches market.
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For the unversed, non-opioid pain patches deliver therapeutic effects through Active Pharmaceutical Ingredients (APIs). The way these patches function is by obstructing the receptors that the body uses to sense pain. Muscle spasms are reduced and relieved with pain patches.
Furthermore, growing preference for online pharmacies, and the ever-increasing elderly population are expected to augment industry outlook in the coming years.
However, high cost of non-opioid pain patches, and supply chain disruption brought on by the pandemic may restrain market growth over the forecast duration.
Based on product type, the industry is branched into ketoprofen patches, capsaicin patches, methyl salicylate patches, diclofenac patches, lidocaine patches, and others. In terms of distribution channel, worldwide non-opioid pain patches market is divided into online pharmacies, retail pharmacies & drug stores, and hospital pharmacies.
Speaking of regional landscape, North America industry accounts for a major revenue share at present, owing to expanding geriatric population, and presence of major competitors in the region.
Whereas Asia Pacific market is slated to witness a healthy CAGR over the stipulated timeframe, due to improving healthcare infrastructure, and increasing prevalence of chronic pain-related conditions among individuals in the region.
Teva Pharmaceutical Industries Ltd., Sorrento Therapeutics Inc., Veridian Healthcare LLC, Teh Seng Pharmaceutical Mfg. Co., Ltd., Endo International plc, Clarion Brands LLC, Hisamitsu Pharmaceutical Co., Inc., GlaxoSmithKline plc, Pfizer Inc., and Sanofi S.A. are the leading players in global non-opioid pain patches market.