Press release
Pain Patch Market on Track for Strong Growth, Estimated to Grow at 7% CAGR Through 2029
Pain Patch
What Is the Expected CAGR for the Pain Patch Market Through 2025?
Over the past years, the size of the pain patch market has been experiencing a consistent growth. The market size, which would be $4.24 billion in 2024, is expected to rise to $4.44 billion in 2025, marking a 4.9% compound annual growth rate (CAGR). The historic growth of the market is tied to a higher adoption of non-invasive techniques for managing pain, a rise in incidents of road accidents, surge in chronic diseases, more occurrences of post-surgical pain, and a higher rate of trauma and injuries.
What's the Projected Size of the Global Pain Patch Market by 2029?
Anticipated to see robust expansion in the years to come, the market for pain patches is projected to reach $5.83 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this growth during the forecast period include an increased reliance on opioids for pain treatment, a heightened demand for targeted pain relief that causes few systemic side effects, lifestyle shifts, a rise in desk jobs, and a growing need for easy-to-use, effective alternatives. The forecast period is expected to witness major trends such as the introduction of innovative solutions, the incorporation of advanced drug delivery technologies, partnerships among key industry players, technological progress, and strategic collaborations.
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Top Growth Drivers in the Pain Patch Industry: What's Accelerating the Market?
The increase in pain disorders is anticipated to fuel the expansion of the pain patch market in the future. Pain disorders are any physical conditions where pain is the primary symptom; these disorders are often a result of psychological stress, inflammatory diseases, or physical injuries. Pain patches help manage these disorders by delivering medication directly to the bloodstream via the skin, providing a controlled and sustained release of drugs over an extended period. For example, the Scottish Health Survey 2022, released in December 2023 by the Scottish Government, revealed that in 2022, over a third (38%) of Scottish adults experienced persistent pain or discomfort for three months or more, with women (43%) being more affected than men (33%). Consequently, the surge in pain disorders will engender the growth of the pain patch market.
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What Long-Term Trends Will Define the Future of the Pain Patch Market?
The proliferation of pioneering technologies has become a significant trend gaining traction in the pain patch market. Major market players are introducing unique technologies to fortify their market presence. For example, Hisamitsu Pharmaceutical Co. Inc., based in Japan, unveiled Salonpas Pain Relieving Flex Patch in June 2022. This innovative pain relief patch, boasting 4% lidocaine, exhibits a slim, adaptable design, endowed with top-notch patch technology. The fabric of the patch, embedded with lidocaine, complements the advanced patch technology to deliver the highest available dose of lidocaine, ensuring effective pain relief. The convenience and immediate relief offered by this pain patch add to its appeal.
What Are the Main Segments in the Pain Patch Market?
The pain patch market covered in this report 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
Subsegments:
1) By Opioid: Fentanyl Patches, Buprenorphine Patches, Other Opioid Patches
2) By Non-Opioid: Lidocaine Patches, Capsaicin Patches, Diclofenac Patches, Other Non-Opioid Patches
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Which Top Companies are Driving Growth in the Pain Patch Market?
Major companies operating in the pain patch market include CVS Health Corporation, Walgreens Boots Alliance Inc., Pfizer Inc., Bayer AG, Novartis AG, Sanofi S.A., GlaxoSmithKline plc, Rite Aid Corporation, Reckitt Benckiser Group plc, Viatris Inc., Mylan N.V., Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Hikma Pharmaceuticals plc, Endo International plc, Amneal Pharmaceuticals LLC, Grünenthal Group, Allergan plc, Hisamitsu Pharmaceutical Co. Inc., NICHIBAN Co. Ltd., Teikoku Seiyaku Co. Ltd., Haw Par Corporation, Sorrento Therapeutics Inc., Nanjing Joyful Industrial Co. Ltd., NEXGEL Inc.
Which Regions Will Dominate the Pain Patch Market Through 2029?
North America was the largest region in the pain patch market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pain patch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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