Non-opioid Pain Patch Market Is Poised To Uplift Around $1.04 Billion By 2026: Grand View Research, Inc

December 05 09:12 2019
Non-opioid Pain Patch Market Is Poised To Uplift Around $1.04 Billion By 2026: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global non-opioid pain patches market size was valued at USD 732.6 million in 2018 and is expected to grow at a CAGR of 4.6% during the forecast period.

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.

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/non-opioid-pain-patches-market

Europe non-opioid pain patches market size, by patch type, 2015-2026 (USD Million)

Key Takeaways from the report:

  • 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

Germany non-opioid pain patches market share, by distribution channel, 2018 (%)

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Grand View Research has segmented the global non-opioid pain patches market report on the basis of patch type, distribution channel, and region:

Non-opioid Pain Patch Type (Revenue, USD Million; 2015 – 2026)

  • Lidocaine Patches
  • Diclofenac Patches
  • Methyl Salicylate Patches
  • Capsaicin Patches
  • Ketoprofen Patches

Non-opioid Pain Patch Distribution Channel Outlook (Revenue, USD Million; 2015 – 2026)

  • Hospitals
  • Online Pharmacies
  • Drug Stores

Non-opioid Pain Patch Regional Outlook (Revenue, USD Million; 2015 – 2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

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Opioid Use Disorder Market Size, Share & Trends Analysis Report By Drug (Buprenorphine, Methadone, Naltrexone), Competitive Landscape, And Segment Forecasts, 2019 – 2026

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Company Name: Grand View Research, Inc.
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Website: https://www.grandviewresearch.com/industry-analysis/non-opioid-pain-patches-market


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