Medicated Pain Relieving Plasters Market Research Report by Key Players Analysis 2024
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Aging population coupled with increasing prevalence of arthritis, musculoskeletal pain and others will boost the demand for medicated pain relieving plasters globally. In addition, several advantages of medicated pain relieving plasters over oral pain killer therapeutics will augment the market growth. For example, medicated pain relieving plasters allow the drugs to be directly absorbed into the damaged soft tissue as against the systemic route followed by oral analgesics, thus speeding up the healing process.
Additionally, medicated pain relieving plasters possess only administration site-related side effects such as skin irritation, burning sensation, rash, pruritus and dermatitis depending on the patient skin condition, whereas oral painkillers carry a risk of damaging the liver, intestines or stomach and other systemic effects. Moreover, consistent efforts by key companies to provide new and advanced medicated pain relieving plasters also drive the market growth. These factors would in turn boost the demand for medicated pain relieving plasters and hence stimulates the market growth. However, high cost of medicated pain relieving plasters will restrain the market growth. For example, a five-pack of salonpas arthritis pain patches costs a patient around USD 9, while patient can buy nearly 100 Advil pills at the same price.
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In terms of geography, North America accounted for the largest market share of medicated pain relieving plasters. The market of medicated pain relieving plasters in North America is majorly driven by rising incidences of disease such as arthritis, osteoporosis and others in North America. Europe is considered as the second largest market of medicated pain relieving plasters owing to increasing acceptance of pain relieving plasters among patient population. In addition, consistent efforts of key players to expand their market presence in Europe will further stimulate the growth of medicated pain reliving market.
Asia-Pacific (majorly India and China) is the emerging market for the global medicated pain relieving plasters owing to rising interest of companies to capitalize the untapped opportunities in this region. In addition, increasing incidences of arthritis and back pain in Asia-Pacific would further stimulate the market growth. For example, According to the Emirates Arthritis Foundation, 20% of the population of the UAE was diagnosed with arthritis in 2013. Additionally, the World Health Survey conducted in Kuwait suggested that 16.1% of the population suffered from arthritis in the country in 2013. Thus, high prevalence of arthritis and back pain in these regions has led to an increase in demand for medicated pain therapies in the region. Some of the key players engaged in medicated pain relieving plasters market are Zhejiang Dingtai Pharmaceutical Co., Ltd., Hisamitsu America, Inc., DSE Healthcare Solution LLC, Zhejiang Bangli Medical Products Co., Ltd., Anhui Dejitang Pharmaceutical Co., Ltd. and others.
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