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Oct 6, 2020 2:20 PM ET

Global Non-Opioid Pain Patches Market Set for Rapid Growth, to reach Value around USD 1,205.8 Million by 2025


iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Non-Opioid Pain Patches Market by Type (Lidocaine Patches, Diclofenac Patches, Methyl Salicylate Patches, Capsaicin Patches, Ketoprofen Patches, and Others), and by Distribution Channel (Hospitals Pharmacies, Online Pharmacies, Drug Stores, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for non-opioid pain patches market was valued at approximately USD 919.4 million in 2018, and is expected to generate revenue of USD 1,205.8 million by end of 2025, growing at a CAGR of 4.0% between 2019 and 2025.

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Non-Opioid Pain Patches Market

Non-opioid medications help to decrease pain in the peripheral nervous system by releasing the enzyme called cyclooxygenase at the site of injury that blocks the production of prostaglandins. These medications are analgesic, anti-inflammatory, and antipyretic in nature. As per the United Nations Office on Drugs and Crime, almost 35 million people globally are abused by the use of opioids. Due to the rising rate of addiction and severe side-effects related to the prolonged use of opioid medication there has been rising demand for use of non-opioid therapeutics globally.

Chronic and acute pain affects most of the Americans than diabetes, heart related diseases, and cancer combined as per the U.S. Department of Health and Human Services. HHS has also reported that pain and pain related disorders are the most common causes of patients for visits to the healthcare facilities that make it the foremost cause of disability, further contributing largely to the healthcare costs. These aspects are leading to the discovery of safe and effective management options like non-opioid pain patches.

The non-opioid pain patches market is bifurcated based on distribution channel, type, and regions. Based on type the market is bifurcated into capsaicin patches, methyl salicylate patches, diclofenac patches, ketoprofen patches, lidocaine patches, and others. The segment for lidocaine patches held for major share of the market as these are proven efficacy and safety profile. These patches are also recommended as first-line therapy in the treatment of neuropathic pain in aged patients and those suffering from shingles.

On the basis of distribution channel the market is segmented into online pharmacies, drug stores, hospitals pharmacies, and others. The segment for hospitals held major share of the market owing to the frequent admissions of the patients and visits for pain management, particularly patients suffering from musculoskeletal disorders and other diseases like chronic and acute pain. Moreover, long-term use of painkillers also brings risk of medication related an adverse effect which is not in the case of patches.

Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market owing to the rising incidence of pain-related disorders along with mounting opioid epidemic in the U.S.

Some of the players in the market include Mylan N.V., Pfizer, Inc., GlaxoSmithKline Plc, Allergan, Co., Teh Seng Pharmaceutical Mfg., Acorda Therapeutics, Ltd., Hisamitsu Pharmaceutical Co., Inc., Teikoku Seiyaku Co., Ltd., and IBSA Institut Biochimque SA, Inc.

The report segments the non-opioid pain patches market as follows:

Global Non-Opioid Pain Patches Market: Type Segment Analysis

Global Non-Opioid Pain Patches Market: Distribution Channel Segment Analysis

Global Non-Opioid Pain Patches MarketRegional Segment Analysis

To view TOC of this report is available upon request @ https://www.zionmarketresearch.com/toc/non-opioid-pain-patches-market 



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Keywords:    Non-Opioid Pain Patches Market

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