Non-opioid Pain Patches Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

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Non-opioid Pain Patches Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Pharmaceutical | PPT format

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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?