The pain patches market is estimated to secure a valuation of US$ 2.6 Billion in 2023 and is estimated to rise to US$ 5.8 Billion by 2033. The market is anticipated to grow at a CAGR of 8.4% during the forecast period. The factors accelerating the demand for pain patches are as follows-
The major factor driving the growth of the pain patches market include increased demand for pain patches and increased prevalence of osteoarthritis. Also, the increased use of pain patches for pain management for the non-cancer condition is expected to drive market growth.
The growing acceptance of non-invasive pain management techniques, and increased application of pain patches as it’s a convenient and easy-to-use effective option. The growing prevalence of road accidents, trauma, injuries, severe chronic illness, and post-surgery pain is driving the demand for pain patches during the forecast period.
North America accounts for the largest revenue share of the pain patches market during the forecast period owing to the increased prevalence of chronic pain conditions and increasing elderly population in the region and increased acceptance of non-invasive pain management techniques. Also, the presence of leading pain patches manufacturers like Novartis and Malyn N.V provides the opportunity for market growth
On the other hand, the pain patches market in Europe is witnessing significant growth in recent years. Several companies in Europe are providing pain patches to meet the growing demand. Asia pacific pain patches market is projected to grow in near future owing to the developing pharmaceutical industry and increased demand for innovative products in the healthcare industry.
The pain patches market is fragmented with many large and small-scale manufacturers competing to gain significant market share. Some of the leading players operating in the pain patches market are viatris Inc, Johnson & Johnson Services Inc, Teva Pharmaceuticals Industries Ltd, Sanofi S.A., Hisamitsu Pharmaceuticals Co. Inc, GlaxoSmithKline Plc, Novartis AG, Nichiban Co. Ltd, Teikoku Seiyaku Co ltd, and Metholatum Company, among others.
For instance, in November 2020- Viatris launches the successful combination of Mylan N.V. and Pfizer Upjohn business. Viatris has scientific manufacturing and distribution expertise with proven regulatory, global & medical capabilities to deliver high-quality services to the medical industry
The pain patches market is expected to grow in the coming years. The increasing demand for novel pain management products for providing better pain relief is expected to drive market growth during the forecast period. Also, the availability of pain patches in hospital pharmacies, retail pharmacies, and online stores increases the sales of the market. Several start-ups have entered the pain patches market with innovative products and technology.
For instance, founded in 2018-Luminas is the start-up involved in developing pain relief patches with developed proprietary technology which allows capturing these electric fields’ signature from various natural remedies to reduce pain & inflammation. The patch is designed to be worn for several days and contains no drugs or chemicals
Expected Market value in 2023
US$ 2.6 Billion
Projected Market Value in 2033
US$ 5.8 Billion
Growth Rate (2023 to 2033)
CAGR of 8.4%
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According to latest research by Future Market Insights, pain patches market will experience substantial growth during the forecast period 2021-2031. Demand for pain patches will elevate in the course of forecast period while experiencing a steady growth. Increased demand pain patches to encounter the pain resulted from various medical conditions represents lucrative growth for pain patches market.
Pain patch is a medicated adhesive patch that is used to relieve the pain by placing it on the skin. Pain patch uses a transdermal route and therefore provides an advantage of controlled delivery of medication as compared to other routes of administration. This advantage may result in increasing the sales of pain patches during the forecast period.
Increasing number of accidents that result in severe injury is expected to drive the growth of pain patches market across the globe. According to the Association for Safe International Travel, in 2020, approximately 4.4. million individuals were severely injured to require medical attention in the U.S. Moreover, increasing number of sports related injuries will also lead to a rise in demand for pain patch market.
In addition, changes in lifestyle and emergence of more office related jobs that needs continuous sitting in one position for too long may result in back related ailments among others. This will also lead to significant growth in the pain patches market.
Increasing chronic and acute pain-related diseases is expected to reflect positive growth for pain patches market. One such disease is arthritis which results in severe joint pain. The increasing prevalence of arthritis mainly is expected to increase the demand for pain patches. According to CDC, in 2018, an estimated 22.7% of the USA population of adults had doctor-diagnosed arthritis.
USA and Canada are among the largest market for pain patches market making North America a dominant player. The adoption of transdermal pain patches has increased in North America for pain management of certain conditions, which includes cancer. Pain patches are quite effective as compared to painkillers as they deliver pain management drugs at a predetermined rate across the dermis and achieve a local or systemic effect.
This indicates that the high prevalence of cancer will lead to a rise in demand for the pain patches market. According to National Cancer Institute, in 2018 an estimated 16,353,421 people living with cancer of any site in the U.S.
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Increasing usage of pain patches for pain management for non-cancer conditions is expected to drive the growth of the pain patches market in this regions. Additionally, the increasing research and development funding and increasing focus of the European governments on the healthcare system also represents steady growth for pain patches market.
Moreover, favourable reimbursement policies in many European countries will also boost further growth of the pain patches market.
Some of the leading manufacturers operating in the pain patches market include
Many leading manufacturers in the pain patches market are focusing on getting FDA approvals for their products. For instance, in July 2020, the FDA approved an 8% capsaicin pain patch for diabetic neuropathy. Manufacturers in the market are also focused carrying out acquisitions that will broaden their product portfolio.
In July 2019, GlaxoSmithKline acquired the Pfizer’s Consumer Health Business which includes OTC products for topical pain management.