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Pain Patch Market Report 2023-2032: Growth Drivers, Share Analysis, Trends, Size And Forecast | CVS Health Corporation, Walgreens Boots Alliance Inc., Pfizer Inc., Bayer AG, Novartis AG
Pain Patch Market
The Business Research Company's Pain Patch Global Market Report 2023 identifies rising pain disorders as the major driver for the Pain Patch market's growth in the forecast period. Pain disorders refer to any physical condition with pain as the primary symptom. Psychological stress, inflammatory diseases, and physical trauma or injury cause pain disorders.
The global pain patch market is expected to grow from $3.81 billion in 2022 to $4.08 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The pain patch market is expected to reach $5.13 billion in 2027 at a CAGR of 5.9%.
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Major competitors in the Pain Patch market are CVS Health Corporation, Walgreens Boots Alliance Inc., Pfizer Inc., Bayer AG, Novartis AG.
A key trend in the Pain Patch market includes advancement of innovative technologies. Major companies operating in the pain patch market are developing innovative technologies to strengthen their position in the market. For instance, in June 2022, Hisamitsu Pharmaceutical Co. Inc., a Japan-based pharmaceutical company, launched Salonpas Pain Relieving Flex Patch. This new pain relief patch contains 4% lidocaine and has a thin, flexible, unique, and highly adhesive patch technology. The patch fabric is innovative and infused with the active ingredient of lidocaine, and the advanced patch technology provides the maximum lidocaine prescription to provide adequate pain relief. This pain patch is easy to use and provides instant pain relief.
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https://www.thebusinessresearchcompany.com/report/pain-patch-global-market-report
The Pain Patch market is segmented -
1. By Type: Opioid, Non-Opioid
2. By Route Of Administration: Metered Dose, Microneedle Patches
3. By Therapeutic Use: Pain Relief, Anesthesia, Smoking Cessation, Cough Suppression, Diarrhea Suppression
4. By Distribution Channel: Online Pharmacies, Retail Pharmacies, Hospital Pharmacies
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Pain Patch market.
The Business Research Company's "Global Pain Patch Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Pain Patch Market Include:
1. Executive Summary
2. Pain Patch Market Characteristics
3. Pain Patch Market Trends And Strategies
4. Pain Patch Market - Macro Economic Scenario
……
32. Global Pain Patch Market Competitive Benchmarking
33. Global Pain Patch Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pain Patch Market
35. Pain Patch Market Future Outlook and Potential Analysis
36. Appendix
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