Pain patches, also known as analgesic patches or pain relief patches, are medical devices used for administering pain relieving drugs through the skin directly into the bloodstream. They offer a convenient and non-invasive alternative to pills and provide sustained drug delivery over an extended period. Common medications delivered via pain patches include lidocaine, diclofenac, buprenorphine, fentanyl, and oxybutynin. They are widely used for treating chronic pain conditions affecting the back, joints and post-operative pain.
The global pain patch market is estimated to be valued at US$ 5.29 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The global pain patch market is witnessing significant growth owing to the increasing prevalence of chronic pain conditions such as arthritis, lower back pain, diabetic neuropathy, and cancer pain. As per data by the Centers for Disease Control and Prevention (CDC), approximately 20% of adults in the U.S. suffer from chronic pain and it is one of the leading causes of long-term disability. Pain patches provide a convenient mode of self-administration of pain medications for chronic pain patients as compared to oral pills that require frequent dosing. Their superiority over pills in terms of consistent and sustained drug delivery also contributes to market growth. Further, the ability of medicated patches to relieve pain locally at the site of application makes them an attractive alternative to oral formulations as it reduces systemic side effects of drugs.
The market is also driven by the increasing geriatric population which is more prone to illnesses inflicting chronic pain like osteoarthritis. According to the United Nations report, the number of people aged 65 years or older is projected to increase from 727 million in 2020 to 1.5 billion in 2050 globally. Easy availability of over-the-counter pain patches without prescription in major markets is another factor fueling demand. However, inconsistent drug delivery with patch use, high costs, and risks of abuse with fentanyl patches are some factors expected to hamper market growth over the forecast period.
SWOT Analysis
Strength:
Pain patches are easy to administer and provide sustained pain relief over several hours without frequent redosing. This makes them convenient for patients.
They provide localized pain relief at the application site and allow avoidance of systemic medication effects like drowsiness.
Newer types of pain patches are available that deliver drugs through the skin more effectively using modern drug delivery technologies. This enhances efficacy.
Weakness:
Skin irritation is a potential side effect if the same site is used for multiple applications. This may reduce compliance.
Not all types of pain may be effectively treated with a topical patch since systemic effects cannot be achieved. Oral medications are required in some cases.
Opportunity:
The aging population worldwide is expected to drive the demand for effective chronic pain management options. Pain patches address an unmet need in this patient segment.
Emerging new patch technologies that deliver multiple drugs or ensure better skin permeation can expand the markets and applications.
Threats:
Competition from other transdermal products and oral pain drugs may affect market share of some companies.
Regulatory issues like new formulations or ingredients requiring re-approval may delay market entry of new products.
Key Takeaways
The global pain patch market is expected to witness high growth.
Regional analysis: North America is currently the dominant region for pain patches due to an aging population and higher awareness about such products. However, Asia Pacific is expected to be the fastest growing market during the forecast period driven by expansion of healthcare facilities and increasing disposable incomes in developing nations.
Key players operating in the pain patch market are Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson, Pfizer Inc., Novartis AG, Mylan N.V., Endo Pharmaceuticals, Teikoku Pharma USA, Inc., Acorda Therapeutics, Ibsa Institut Biochimique SA, Alembic Pharmaceuticals, Noven Pharmaceuticals, Inc., Teva Pharmaceuticals, Strativa Pharmaceuticals, Galen Limited, and Napp Pharmaceuticals. Companies are focusing on development of advanced transdermal drug delivery technologies and formulations to penetrate global markets.
