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Non-opioid Pain Patches Market size is projected to total US$ 4.4 Billion by 2029

February 24th, 2022 Future Market Insights Releases

In recent years, non-opioid pain patches have gained huge attention of leading industry players due to the addictive risk and safety concerns of alternative opioid pain analgesics. In addition, governments and regulatory bodies are encouraging non-addictive alternative therapies for acute and chronic pain treatment.

Leading industry players in the non-opioid pain patches market are tapping this opportunity by allocating significant investments towards the R&D of novel transdermal non-opioid pain technologies. Continuous innovation in these novel drugs is expected to drive the non-opioid pain patches market in the decade ahead.

Key manufacturers operating in the market are offering a wide range of products such as lidocaine patches, diclofenac patches, methyl salicylate patches, capsaicin patches, ketoprofen patches, and others. Owing to the non-addictiveness of non-opioid pain therapeutics, there has been increasing demand for non-opioid pain patches, creating opportunity for the growth of the non-opioid pain patches market.

FMI – a well-established name in the market research domain – forecasts that, the non-opioid pain patches market will experience a major upturn post 2025, crossing the US$ 4 Bn mark by 2029.

Request a report sample to gain comprehensive insights at
https://www.futuremarketinsights.com/reports/sample/rep-gb-11286

Attribute Details
Non-opioid Pain Patches Market Estimated Size 2022 US$ 3.3 Bn
Non-opioid Pain Patches Market Value-based CAGR (2022-2029) ~ 4.1%
Non-opioid Pain Patches Market Size in Projected 2029 US$ 4.4 Bn

That being said, the market is likely to witness decline in the near term due to the novel coronavirus (COVID-19) pandemic. The impact of the pandemic has been prominent in China, where the virus originated, and Europe – Spain, Italy, and France. Consequently, governments in these regions have imposed total lockdowns, leading to logistic nightmares, and gradual exhausting of existing non-opioid pain patches.

Key Takeaways of Non-opioids Pain Patches Market Study     

  • In terms of product type, the lidocaine patches segment is expected to capture over 65% of revenue share in the non-opioid pain patches market.
  • Owing to superior topical effectiveness with minimal side-effects and prolonged transdermal drug release, lidocaine patches are the most preferred product type.
  • In terms of distribution channel, hospital pharmacies and retail pharmacies & drug stores are expected to collectively hold over 70% of total value in the non-opioid pain patches market during the forecast period.
  • North America is the highest revenue generating market by region, due to high R&D projects and conducive regulatory environment for non-opioid pain therapeutics. Europe is expected to offer lucrative opportunities, owing to the large aging population and increasing per capital healthcare expenditure.

For any Queries Related with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-11286

Strategic Collaborations – Key Differentiating Strategy Followed by Leading Manufacturers

Leading manufacturers in the non-opioid pain patches market are focusing on external development collaboration to innovate novel therapeutics, in a bid to sustain market competition. For instance, in April 2021, Seattle-based Kineta Chronic Pain collaborated with Genentech to develop a non-opioid drug for the treatment of chronic pain. The underdevelopment drug is α9/α10 nicotinic acetylcholine receptor (nAChR) antagonists, a novel target for the treatment of chronic neuropathic pain.

Want more insights?

A new study by Future Market Insights on the non-opioid pain patches market opines on the indications of non-opioids pain patches from 2014–2021, and presents demand projections for 2022–2029, on the basis of product type (lidocaine patches, diclofenac patches, methyl salicylate patches, capsaicin patches, ketoprofen patches, and others) and distribution channel (hospital pharmacies, retail pharmacies & drug stores, and online pharmacies), across seven prominent regions.

We Offer tailor-made Solutions to fit Your Requirements, Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-11286

Explore FMI’s Extensive ongoing Coverage on Healthcare Domain

Complex Regional Pain Syndrome Market – Complex Regional Pain Syndrome (CRPS) is a chronic condition that causes severe pain in legs, arms, feet, and hands or may involve the entire body. CRPS is commonly of two types, with similar symptoms and treatment.

Veterinary Pain Management Drugs Market – Veterinary pain management is a very important aspect of veterinary therapeutics. Animals suffer from pain, sometimes chronic, but however are unable to express it. Pain in animals could be associated with surgical pain, arthritis and cancer.

Pain Monitoring Devices Market – Pain is an unpleasant sensation caused by injury and illness. The treatment of pain is led by the history of its origin, such as the duration, aggravating, intensity, and relieving conditions. In order to diagnose the cause of pain, pain monitoring devices are used.

Pain Patches Market – According to latest research by Future Market Insights, pain patches market will experience substantial growth during the forecast period 2021-2031. Demand for pain patches will elevate in the course of forecast period while experiencing a steady growth.

Luciferase Assays Market – A bioluminescence experiment requires a paired set of biochemical: an enzyme named luciferase and a substrate, which is a molecule that emits light upon interacting with the enzyme or photoprotein.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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