According to the latest report published by Credence Research, Inc. “Non-Opioid Pain Patch Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global non-opioid pain patch market was valued at US$ 3.6 Bn in 2016, and is expected to reach US$ 5.0 Bn by 2025, expanding at a CAGR of 3.5% from 2017 to 2025.
The purpose of the report is to illustrate the state of the market of Non-Opioid Pain Patch, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
Browse here for full report: https://www.credenceresearch.com/report/non-opioid-pain-patch-market
Pain is reported as the major reason of public visit to any emergency department of any medical center. Various treatment options are available to deal with chronic and acute pain starting from medication, physical therapy to acupuncture, exercise or counselling technique. As per Institute of Medicine of The National Academies, more than 100 million Americans suffer from chronic pain which is much more compared to other health issues.
The non-opioid pain patch is a treatment for pain relief. The pain patch, when placed on painful area releases its medicine content through skin surface and block the pain signal transmission. The patches can be customized as per the applied area. To counteract the opioid abuse, newer, innovative and more effective non-opioid pain patches are being developed which in turn propel the non-opioid pain patch market growth.
Growing elderly population, increasing incidences of chronic and acute pain, rising opioid abuse and death from opioid overdose are the major drivers of the non-opioid pain patch market. Lower back-pain is the most common ailment followed by migraine or headache and neck pain. This rising prevalence of chronic pain is one of the major driver of non-opioid pain patch market. The increasing adoption of technologically advanced products, healthcare expenditure for R&D to develop innovative products boost up the growth of the non-opioid pain patch market. However, the lack of awareness in developing nations, demand of oral medication are few major challenges associated with the non-opioid pain patch market.
The non-opioid pain patch market is classified on the basis of patch type and the classification are of below types:
- Lidocaine Patches
- Diclofenac Patches
- Capsaicin Patches
- Methyl Salicylate Patches
The non-opioid pain patch market is further segmented on the basis of distribution channels and the sub-segments are as follows:
- Hospital pharmacy
- Retail pharmacy/Independent pharmacy
- E-commerce/ Online pharmacy
The hospital pharmacy hold the major market share, however retail pharmacy and online pharmacy are anticipated to face significant growth in forecasting periods.
Geographically, in the year 2016, North America is expected to have the major share of Non-opioid pain patch market followed by Europe. The growth of non-opioid pain patch market is majorly driven by the fact of opioid abuse. According to the study of Centers for Disease Control and Prevention (CDC), almost 91 people die every day from opioid overdose including prescribed opioid drugs. This fact in turn drive the non-opioid pain patch market. The healthcare expenditure for development of new products and patient health awareness attribute to the dominance of North American region. The huge number of population suffering from neurologic disorders, increasing geriatric population and developing healthcare infrastructure fuel the growth of the non-opioid pain patch market in Asia-Pacific region and it is expected to face significant growth in upcoming years due to the growing trend of health awareness.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Non-Opioid Pain Patch buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Non-Opioid Pain Patch contains:
Analysis and forecast of Non-Opioid Pain Patch market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Non-Opioid Pain Patch market;
Assessment and forecast of Non-Opioid Pain Patch market development;
Financial and business profiles of the leading companies in the Non-Opioid Pain Patch industry.
– Up to date working Non-Opioid Pain Patch data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Non-Opioid Pain Patch for the period 2018 to 2026
– Planned Non-Opioid Pain Patch additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Non-Opioid Pain Patch projects by region, key countries, and companies
– Details of major planned Non-Opioid Pain Patch projects in the world up to 2026
Also you can request us for sample in pdf with more details and graph: https://www.credenceresearch.com/sample-request/58686
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Credence Research Inc.
105 N 1st ST #429
Toll Free (US/CANADA): +1-800-361-8290