Non-opioid Pain Patches Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028
Non-opioid Pain Patches Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Non-Opioid Pain Patches Market: Overview
Need to move away from opioid based patches in order to fight the growing menace of its addiction is leading way for growth in the global non-opioid pain patches market. The situation in 2017 got so bad in terms of opioid addiction that the United States declared it a national emergency. And, the problem is not unique to US. Several countries have the issue marked as high priority and are looking for alternatives to opioid patches. Besides, the market is driven by an increase in chronic and acute pain related issues.
Thus, the global non-opioid patches market will see a steady CAGR (Compound Annual Growth Rate). It will create growth opportunities for market players to tap into and also contribute to the market worth of the opioid patches.
Global Non-Opioid Pain Patches market: Competitive Landscape
The landscape of Global Non-Opioid Pain Patches market is witnessing significant developments that are shaping both its competitive future as well as overall appearance. A glimpse is provided below.
The global non-opioid pain patches market is highly fragmented. And, prominent players in the global non-opioid pain patches market are Acorda Therapeutics; Teva Pharmaceutical Industries Ltd.; GlaxoSmithKline plc; Endo Pharmaceuticals, Inc.; Hisamitsu Pharmaceutical Co., Inc.; IBSA Institut Biochimque SA; Alkermes; Teikoku Seiyaku Co. Ltd.; Capsugel; and Mylan N.V. It is not hard to guess that the competition is intense too.
Current focus for most companies to chart growth in the global non-opioid pain patches market is through improving product and market them better. In order to capture opportunities, it is important to focus on use of better technology. Besides, in order to stay ahead of the curves, players often take to mergers and acquisitions. They also opt for strategic partnerships and collaborations to explore synergies for future growth.
Global Non-Opioid Pain Patches Market: Key trends and driver
Trends:
The global Non-opioid pain patches market is being driven on to a high growth trajectory, owing to a number of factors. Some of the most potent ones are outlined below:
- Rise in opioid addiction is leading to governments all over to rethink patches. And, this in turn is leading to the non-opioid variants. This is particularly helpful in situations where the treatment for pain is long-term. And, considering that the incidence of associated disorders is rising rapidly, the market will see a positive upward slope over the forecast period.
- Worldwide, people are ageing rapidly. As per a recent study, by 2050, the world will see one in six people fall into the age bracket of 65 and above. And, this number is more pronounced in North American and European regions. Here the ratio will be one in four. And, as this number increases, so would incidence of pain and thus, would global non-opioid pain patches market. It might also be worth noting here that in 2018, this population reached historic proportions. It was for the first time that people falling into the geriatric bracket surpassed the number of those aged 5 and below.
Global Non-Opioid Pain Patches Market: Regional Analysis
North America and Europe will hold the lion’s share owing to presence of prominent market players and rapidly rising geriatric population. But the region that will present players with new growth opportunities is the Asia Pacific (APAC). With people seeing rising disposable incomes and countries already struggling with drug abuse, there will be a massive increase in demand for the non-opioid pain patches. It is a result of both a great performance economically of these nations as well as rising problem of drug use.
The report is segmented into the following:
Patch Type (Revenue, USD Million, 2015 - 2026)
- Lidocaine Patches
- Diclofenac Patches
- Methyl Salicylate Patches
- Capsaicin Patches
- Ketoprofen Patches
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2026)
- Hospitals
- Online Pharmacies
- Drug Stores
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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