Pain patches are transdermal therapeutic systems designed to deliver pain relieving medication through the skin directly into the bloodstream. They provide effective relief from chronic pain associated with conditions like arthritis, back pain and post-operative pain while avoiding risks of other pain 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:
Growing usage of pain patches for chronic pain management has been a key driver of market growth. Chronic pain conditions affect millions worldwide and pain patches offering long lasting pain relief without the need for multiple doses have helped improve patient compliance in chronic pain management. Their popularity has increased as they avoid risks of dependence and abuse associated with oral opioids typically used for long term chronic pain. Further clinical research is exploring the potential of new transdermal drug delivery technologies to expand application of pain patches to other pain indications.
SWOT Analysis
Strength: Pain patches provide controlled, consistent, and targeted delivery of analgesics to the site of pain without dependence and addiction issues associated with oral medications. This improves patient compliance for chronic pain management.
Weakness: Lower efficacy compared to oral or injectable alternatives limits the use of pain patches to only mild to moderate pain conditions. Poor absorption of drugs through patches poses issues in delivering adequate dosage for severe acute or chronic pain.
Opportunity: Increasing preference for non-opioid and non-oral routes of pain management provides opportunities to expand the use of patches to new therapeutic areas. Technologies to enhance drug permeation through skin can widen the scope of conditions treatable with patches.
Threats: Stiff competition from generic oral analgesics poses pricing challenges. Side effects and improper administration can reduce patient adherence to patches.
Key Takeaways
The global pain patch market is expected to witness high growth owing to the rising geriatric population suffering from arthritis and other pain conditions.
Regional Analysis: North America currently dominates the pain patch market due to the higher adoption of non-oral drugs for pain management. However, Asia Pacific is likely to emerge as the fastest growing regional market with improving access to advanced pain therapies in countries such as China and India.
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, Alembic Pharmaceuticals, Noven Pharmaceuticals, Inc., Teva Pharmaceuticals, Strativa Pharmaceuticals, Galen Limited, and Napp Pharmaceuticals. These companies collectively account for a majority share of the global market owing to their diverse pain patch product portfolios and strong international presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
