Pain Patch Market is Supposed to grow at a promising CAGR of 4.8% During Forecast 2019-2025


Market Highlights:
Pain patches are used to manage pain caused due to neurological diseases, injury, cancer pain, and others. The pain patches are transdermal drug delivery devices that release the active substance or opioid into the skin to reduce the pain.
According to MRFR analysis, the global Pain Patch Market is expected to register a CAGR of 4.8% during the forecast period of 2019 to 2025 and is likely to be valued at USD 29.5 billion by 2025.
The growth of the global pain patch market is determined by numerous factors such as an increasing number of patients having joint pain, muscular pain, a growing geriatric population with either one of the disease-causing pains increases the demand for pain patches. Also, the increasing demand for the alternative of oral drug for pain management rises the market growth. However, the side effects associated with the pain patches and lack of awareness about the product are likely to hamper the growth of the global pain patch market during the forecast period.
Key Players:
·         LTS Lohmann Therapie-Systeme AG
·         NanoVibronix
·         Mylan N.V
·         Pfizer
·         Teva Pharmaceutical Company
·         Endo Pharmaceuticals Inc
·         Hisamitsu America
·         Johnson & Johnson
·         Teikoku Seiyaku Co
·         Sanofi
·         NICHIBAN Co
·         The Mentholatum Company
Segmentation:
·         The global pain patch market has been segmented based on type, mode of administration, therapeutic use, and end users.
·         The market, based on type, has been divided into opioid and non-opioid. Opioid is further sub-segmented into immediate-release and extended-release. On the bases of type opioid is likely to hold the maximum market share in the global pain patch market.
·         The global pain patch market on the basis of mode of administration has been segregated into microneedle patches and active delivery systems with patches.
·         On the basis of therapeutic use, the market is segmented into neurological disorder, cancer, smoking cessation, and others.
·         The end user segment of the market consists of hospitals and clinics, home care, and others. The home care segment is expected to hold the largest share of the market as there is a repetitive purchase of medicines from these locations.
Regional Analysis:
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North American market being divided into the US and Canada. The Americas is projected to hold the largest market share owing to the increasing number of patient suffering from central nervous system problem, increasing sedentary lifestyle, and growing demand for innovative technology and product as an alternative to medication for pain management drives the market growth during the forecasted period.  
The European pain patch market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The pain patch market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the rising geriatric population having a problem in swallowing and the patient sensitive to oral drugs boosts the demand for pain patches in this region. The pain patch market in the Middle East & Africa has been divided into the Middle East and Africa.

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