April 2021 | Report Format: Electronic (PDF)
Non-opioid Pain Patch Market Growth & Trends
The global non-opioid pain patches market size is expected to reach USD 1.04 billion by 2026, expanding at a CAGR of 4.6% during the forecast period, according to a new report by Grand View Research, Inc. Some of the key factors driving the market are rising incidence of pain related disorders and the various benefits offered by these patches over other forms of medication used to alleviate acute and chronic pain.
According to the AAPM, chronic pain affects more individuals than cancer, diabetes, and coronary heart disease combined in the U.S. Estimates from the American Chiropractic Association indicate that American citizens spend at least USD 50 billion every year on back-related ailments. These facts are indicative of the growing need for therapies to alleviate pain globally.
Opioid medications are usually sought for the treatment of pain and related disorders despite resulting in dependence and abuse in majority of patients. The rising addiction to opioid drugs has encouraged many countries to develop alternate therapies to alleviate discomfort. In November 2017, opioid epidemic in the U.S. was declared as a national emergency. Thus, demand for safe and effective therapies that ease the underlying discomfort with reduced adverse effects are sought by governments, thus accelerating the market growth.
According to a new study published by Substance Abuse and Mental Health Services Administration report in 2015, 1 in 3 adults in America were prescribed painkillers by medical providers. Statistics from the same source also indicate that these medications were used more than cigarettes, cigars, and smokeless tobacco combined. Most of these oral medicines fall under the opiate category are usually more prone to be addictive and used in combination with other consumables such as alcohol and other drugs. Growing awareness about the adverse effects associated with these drugs has led to the development of alternatives such as non-opioid pain patches to deliver the same therapeutic effect and aid in pain management.
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Non-opioid Pain Patch Market Report
Non-opioid Pain Patch Market Report Highlights
- Methyl salicylate patches are expected to gain significant revenue during the forecast period owing to increase in product penetration and consumer adoption
- North America held the largest revenue share due to local presence of major non-opioid pain patch market players and increasing R&D in the field of pain management to cater to a rising number of patients
- The Asia Pacific region is expected to account for the highest CAGR during the forecast period owing to rise in investments by dominant players in the region and developments in the pharmaceutical industry in emerging countries such as India and China