The study is given to the analysis of the latest growth trends and prospects for the Non-Opioid Pain Patch market.
The section ” Non-Opioid Pain Patch Market” includes an examination of the situation in major sections of the Non-Opioid Pain Patch market. The markets in European Union countries are examined in more detail, giving a timeline of financial results reported by major 3PL providers in 2017.
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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.
Market Competition Assessment:
The non-opioid pain patch market currently contains multiple companies having their products marketed. The manufacturers are developing new innovative products and the market is growing due to high adoption and accessibilities of these products. The companies include Teh Seng Pharmaceutical Mfg. Co., Ltd., Endo Pharmaceuticals Inc., Teikoku Seiyaku Co., Ltd., Allergan, Pfizer Inc., Hisamitsu Pharmaceutical Co. Inc., GlaxoSmithKline plc., Mylan N.V., IBSA Institut Biochimque SA, Inc., Acorda Therapeutics and others.
“ Non-Opioid Pain Patch Market” is a new report by us that explains how companies’ acquisition expenditures, media spend, business strategies, marketing and sales strategies and practices, and business plan are set to change in 2017-2018. This paper gives you access to the category-level spending forecasts, business challenges, budgets, supplier selection criteria, the current size of the marketing and promotion budgets and investment opportunities for senior-level officials. The report also identifies the expected growth of buyers and suppliers, capital expenditure, staff hiring, M and A, and e-procurement. This report not only gives access to the views and strategies of business decision makers and rivals but also examines their actions circling business priorities. The report also provides access to information categorized by company type and sizes, region,
Introduction and Landscape
Why was the report written?
This report is the result of an extensive survey drawn from Our Research’s elite panel of leading global senior level executives from enterprises such as such as medical devices, mining, packaging, power, oil, and gas, food and beverage, airports and pharmaceutical. The report covers key topics such as appropriation behaviors and strategies, the current size of the marketing and advertising budgets. Besides the report also recognizes the threats and possibilities, economic outlook trends, media channel spending outlooks, M and A expectations, marketing agency selection models, media budgets, business challenges and confidence among senior-level executives across various industries. Most secondary research papers are based on general industry drivers and do not understand the industry officials’ attitude and changing behaviors, creating a gap in showing the business opportunity of the industry. In an effort to bridge this gap, Our Research created this primary-research based report by selecting the opinions of various stakeholders in the value-chain of the industry
This report offers:
- Analysis of several products, and regions that would provide the clear understanding of the ongoing and future trends in the global Non-Opioid Pain Patch market
- Assessment of market dynamics such as drivers, restraints, and opportunities prevalent in the market
- Quantitative assessment of the current market size and future estimations for the period from 2016 to 2026, along with CAGRs for the period from 2018 to 2026
- Company profiles that will highlight key information about the imperative players operating in the global Non-Opioid Pain Patch devices market
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