The North America Pain Patch Market would witness market growth of 3.7% CAGR during the forecast period (2023-2029).
Due to consumers' increasing preference for online buying over conventional ways of purchasing, e-commerce has emerged as a crucial tool for small and large enterprises globally. The pain patch has expanded as a result of various animations distributed through health applications that instruct users on how to control their pain and use cutting-edge drug delivery systems. Effective pain treatment is in high demand, not just in wealthy nations; this demand is also seen in developing nations, which helps the market expand.
It is anticipated that during the forecast period, manufacturers will ramp up their promotional efforts and that the general public will become more aware of the need for appropriate pain management products. The rise in acceptance of novel drug delivery systems for pain management with fewer side effects, the rise in diagnoses of chronic pain disorders, and the rise in cases of arthritis, cancer, and neuropathic pain are additional factors that are expected to contribute to the growth of the pain patch market during the forecast period. In addition, the market is also growing as a result of proper post-operative pain conditions counseling and approvals for innovative pain patches.
Estimates of chronic pain among U.S. adults based on the population range from 11% to 40%, with significant subgroup heterogeneity. In order to accurately determine the prevalence of chronic pain and high-impact chronic pain (i.e., chronic pain that frequently restricts life or work activities), the 2016 National Pain Strategy called for more accurate prevalence estimates. This would help in introducing & implementing population-wide pain interventions. The CDC examined the 2016 National Health Interview Survey (NHIS) data to estimate the prevalence of chronic pain and high-impact chronic pain in the United States. These factors are increasing market growth.
The US market dominated the North America Pain Patch Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,610.9 million by 2029. The Canada market is estimated to grow at a CAGR of 6.1% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 5.1% during (2023 - 2029).
Based on Distribution Channel, the market is segmented into Drug Stores & Retail Pharmacies, Hospital Pharmacies and Online Providers. Based on Type, the market is segmented into Prescription Medicines and OTC Medicines. Based on Product Type, the market is segmented into Non-Opioid Patches and Opioid Patches. Based on Non-Opioid Patches Type, the market is segmented into Nonsteroidal Anti-Inflammatory Drugs, Methyl Salicylate, Lidocaine and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Pain Patch Market is Projected to reach USD 6.4 Billion by 2029, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NEXGEL, Inc. Viatris, Inc. Johnson & Johnson. Teva Pharmaceutical Industries Ltd. Grunenthal GmbH. Sorrento Therapeutics, Inc. Hisamitsu Pharmaceutical Co. Inc. Endo International PLC. Purdue Pharma L.P. Amneal Pharmaceuticals, Inc.
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