Non-opioid Pain Patches Market is Expanding at a healthy 4.1% CAGR, the size is projected to total US$ 4.4 Billion by 2029

Sales of Non-opioid Pain Patches Market are projected to total US$ 3.3 billion in 2022. The market is anticipated to reach US$ 4.4 billion by 2029, expanding at a strong 4.1% CAGR.

Due to the potential for addiction and safety concerns associated with alternative opioid pain relievers, non-opioid pain patches have recently attracted the interest of major industry participants. Governments and regulatory authorities are also promoting non-addictive alternative medicines for the management of acute and chronic pain.

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.

Download Sample Copy of Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-11286

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 Billion mark by 2029.

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.

“Rising demand for safe and alternative chronic pain therapeutics, and supportive government policies, are anticipated to shape the future of long-term acting transdermal non-opioid analgesic patches.”

Ask from Market Research Expert@ https://www.futuremarketinsights.com/ask-question/rep-gb-11286

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 more Report Customization, connect with us at@ https://www.futuremarketinsights.com/customization-available/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.

Non-opioid Pain Patches Market by Category

Product Type:

• Lidocaine Patches
• Diclofenac Patches
• Methyl Salicylate Patches
• Capsaicin Patches
• Ketoprofen Patches
• Others

Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies & Drug Stores
• Online Pharmacies

Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/11286

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 08-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs