The global pain management patch market is anticipated to grow at a significant CAGR during the forecast period (2022-2028).The transdermal patch is a modern pain management technique designed to treat chronic pain and other conditions and is also known as a skin patch, transdermal patch is a medical adhesive patch, which is applied to the skin to deliver normal doses of the drug through the skin. The increase in the prevalence of cancer, diabetes, and other chronic diseases has created a demand for the development of new medication for its treatment which in turn drives the global pain management patch market growth. The market growth is driven by the strong focus of the pharmaceutical companies and research organizations on the R&D of drugs for pain management patches creating a strong pipeline for effective therapy.
In addition, pharmaceutical companies are pushing for a new introduction to pain treatment, as many of them are looking beyond the current therapies. These new pain management episodes, with new techniques or improved delivery systems, will provide powerful new ways for the currently prescribed pain management leaflets, despite the growing demand for rapid pain recovery, the high costs and side effects of opioids have a significant impact on the proceeds from the sale of pain management pills. Therefore, the market for this drug development seems to be an excellent investment opportunity. Moreover, districts with high rates of young people or adults will attract a greater need for these drugs which boost the global pain management patches market across the globe.
In 11 March 2022, the US FDA has also set a date for action directed at the Prescription Drug User Fee (PDUFA) for the use of the new Corium (NDA) drug Aldarity (donepezil transdermal system), it’sa lead investigational product and a patch formulation of donepezil for the management of patients with dementia due to mild, moderate, or severe alzheimer disease. Rapid drug approval, increasing awareness among the population, and strategic collaboration between key players will enhance the growth of the pain management patches market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape-AbbVie Inc., Hisamitsu Pharmaceutical Co. Inc., Mylan, Teva Pharmaceutical Industries Ltd., Novartis AG, Takeda Pharmaceutical Co. Ltd., among others.
A full report Pain Management Patch Market of is available at: https://orionmarketreports.com/pain-management-patch-market/95876/
Global Pain management patch Market Report by Segment
By Type
- Over The Counter (OTC)
- Opioid & Non-Opioid
- Prescription
By Application
- Acute Pain
- Chronic Pain
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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