Pain Patch Global Market 2024 To Reach $5.46 Billion By 2028 At Rate Of 5.8%

The Business Research Company's Pain Patch Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The pain patch market has experienced robust growth in recent years, expanding from $4.08 billion in 2023 to $4.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased acceptance of non-invasive pain management techniques, prevalence of road accidents, increased chronic illness, increased post-surgery pain, increased prevalence of trauma and injuries.

Strong Future Growth Anticipated
The pain patch market is projected to continue its strong growth, reaching $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing adoption of opioids for pain management, increasing demand for targeted pain relief with minimal systemic side effects, changes in lifestyle, emergence of more office-related jobs, increasing need for convenient and easy-to-use effective option.

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Growth Driver Of The Pain Patch Market
The rising healthcare expenditure is expected to propel the growth of the pain patch market going forward. Healthcare expenditure refers to the total amount of money spent on healthcare goods and services within a specific time, typically measured annually. Healthcare expenditure data provides a broader context for understanding the economic impact and feasibility of implementing pain patches in healthcare systems.

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Major Players And Market Trends
Key players in the pain patch market include CVS Health Corporation, Walgreens Boots Alliance Inc., Pfizer Inc., Bayer AG, Novartis AG, Sanofi S.A., GlaxoSmithKline PLC.
Major companies operating in pain patch market are developing reusable pain patch products to increase their profitability in the market. Reusable pain patch products refer to medical patches designed for the management of pain that can be used multiple times without losing their efficacy.

Segments:
1) By Type: Opioid, Non-Opioid
2) By Route Of Administration: Metered Dose, Microneedle Patches
3) By Therapeutic Use: Pain Relief, Anesthesia, Smoking Cessation, Cough Suppression, Diarrhea Suppression
4) By Distribution Channel: Online Pharmacies, Retail Pharmacies, Hospital Pharmacies

Geographical Insights: North America Leading The Market
North America was the largest region in the pain patch market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pain patch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Pain Patch Market Definition
A pain patch is a transdermal medication used to manage acute and chronic pain. A pain patch relieves severe pain, such as chronic pain or pain after surgery, in patients by delivering regular doses of medicine into the bloodstream through the skin.

Pain Patch Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pain Patch Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pain patch market size, pain patch market drivers and trends, pain patch market major players, pain patch competitors' revenues, pain patch market positioning, and pain patch market growth across geographies. The pain patch market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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