Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Pain Patch Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The latest market research report on the global pain patch sector indicates a significant upturn, predicting the market will reach $4.08 billion in 2023, with a robust compound annual growth rate (CAGR) of 7%. Despite the economic challenges posed by the ongoing Russia-Ukraine war, the rising prevalence of chronic pain disorders and the subsequent demand for pain management solutions are driving this growth.
Dominance of North America and Emergence of Asia-Pacific as the Fastest-Growing Region
The study identifies North America as the preeminent leader within this industry and points towards Asia-Pacific as the fastest-growing region over the coming years. This regional expansion is attributed to the escalating awareness of pain management options and the increasing availability of advanced pain relief patches.
Revolutionary Technologies Elevating Pain Patch Efficacy
A key highlight of the report is the spotlight on innovation, showcasing companies that are spearheading the development of cutting-edge pain patch technologies. For example, the introduction of lidocaine-infused patches that ensure optimum drug delivery and instant pain relief signifies a significant leap forward in the industry.
Impact of Rising Chronic Pain Disorders
The report underscores the escalating numbers of chronic pain sufferers as a critical factor propelling the pain patch market. These disorders, resulting from varied causes such as psychological stress, inflammatory diseases, and injuries, have heightened the need for pain management solutions that are efficient and convenient – a demand that the pain patch market is poised to fulfill.
- Rise in Chronic Pain: With chronic pain cases on the rise, there's an increasing demand for pain treatments that provide sustained relief.
- Opioid and Non-Opioid Patches: The study delineates between opioid and non-opioid patches, focusing on their use and efficacy.
- Comprehensive Market Insights: The research provides an exhaustive analysis of the market dynamics, segmentations, and future projections.
This thorough pain patch market research report provides in-depth insights for businesses, health care professionals, and stakeholders interested in understanding the intricate dynamics of the market. It delivers a comprehensive perspective on the industry, ensuring readers are well-informed on the current and future landscape of pain management via transdermal avenues. For additional information and to view the complete findings of this report, please visit our website's dedicated research section on the global pain patch market.
A selection of companies mentioned in this report includes
- CVS Health Corporation
- Walgreens Boots Alliance Inc.
- Pfizer Inc.
- Bayer AG
- Novartis AG
- Sanofi S.A.
- GlaxoSmithKline plc
- Rite Aid Corporation
- Reckitt Benckiser Group plc
- Viatris Inc.
- Mylan N.V.
- Smith & Nephew plc
- Sun Pharmaceutical Industries Ltd.
- Perrigo Company plc
- Purdue Pharma LP
- Hikma Pharmaceuticals plc
- Endo International plc
- Amneal Pharmaceuticals LLC
- Grünenthal Group
- Allergan plc
- Hisamitsu Pharmaceutical Co. Inc.
- NICHIBAN Co. Ltd.
- Teikoku Seiyaku Co. Ltd.
- Haw Par Corporation
- Sorrento Therapeutics Inc.
- Nanjing Joyful Industrial Co. Ltd.
- NEXGEL Inc.
For more information about this report visit https://www.researchandmarkets.com/r/eymisv
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