Pain Patch Market Expected to Reach $7.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pain Patch Market," The pain patch market size was valued at $4.8 billion in 2021, and is estimated to reach $7.3 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

Pain patches are transdermal patches that deliver medication through the skin to provide pain relief. They are a popular option for patients who have chronic pain and have intolerance with oral medications. Pain patches can contain either opioids or non-opioid medications, depending on the patient's needs and the severity of their pain. The drugs commonly used in pain patches are fentanyl, buprenorphine, lidocaine, and others which gradually released over several hours or days through the novel drug delivery system. The pain patches provide a more consistent and controlled dose of medication.  

The major pain patch market trends includes, increase in geriatric population, cost efficiency of pain patch, rise in prevalence of chronic pain cases, and adoption of novel pain management solution such as pain patches, which drive the growth of the market In addition, elderly people are highly prone to suffer from pain, owing to prevalence of chronic diseases like arthritis, neuropathy, lower back pain and cancer. Thus, increase in geriatric population, further drives the market growth. For instance, according to statistics provided by the Statist, in 2020 about 16.9% of the U.S. population was reported to be 65 years old or above, which is expected to reach 22% by 2050. Thus, rise in geriatric population is anticipated to drive the market growth.

In addition, increase in prevalence of arthritis augmenting to chronic pain in individual and the inability to conduct routine tasks is expected to drive the use of pain patches and drive growth of the pain patch market size. For instance, according to the Centers for Disease Control and Prevention (CDC), over 24.5% of adults in the U.S. were suffering from arthritis in 2020, making it the primary reason for work disability. Thus, increase in geriatric population and rise in chronic pain diseases are anticipated to drive the pain patch market growth.  

Moreover, rise in popularity among athletes and sportspeople who require pain relief for acute injuries or chronic conditions is anticipated to drive the market growth. As pain patches can provide targeted pain relief directly to the affected area, which can be beneficial for athletes who need to continue training or competing while managing their pain. Thus, rise in adoption of pain patches by athletes and sportspeople owing to its advantages is anticipated to drive the growth during pain patch market forecast.  

Further, rise in regulatory approvals for novel drug delivery system pain patches is expected to drive the growth of the market during the forecast period. For instance, in July 2020, Grünenthal, received U.S. Food and Drug Administration (FDA) approval for QUTENZA (capsaicin) 8% patch for the treatment of neuropathic pain. Thus, rise in number of product approvals of pain patches, is expected to drive the growth of the market.  

However, stringent regulations regarding approval of pain patches and a few side effects such as skin irritation and allergic reactions associated with it are the factors restraining the growth during pain patch market analysis. In addition, availability of alternative pain management options such as acupuncture, physical therapy and chiropractic care may hamper the market growth.  

On the basis of product type, the market is categorized into non-opioids and opioids. The non-opioid segment accounted for the largest share in 2021, and is expected to witness highest CAGR during the forecast period, owing to increase in demand for alternative pain management options that can provide effective relief without the risks associated with opioids.  

On the basis of type, the market is categorized into prescription medicines and OTC medicines. The prescription medicines accounted for largest pain patch market share in 2021 and is expected to witness highest CAGR during the forecast period owing to advantages as they provide correct number of drugs in the treatment of pain without causing much side effects, and commonly the opioids patches and NSAIDS are prescribed which are proven to be effective in chronic pain management.   

On the basis of distribution channel, the pain patch industry is categorized into hospital pharmacies, drug stores and retail pharmacies and online providers. The drug stores and retail pharmacies segment occupied largest share in 2021 and is expected to remain dominant during the forecast period owing to increase in preference of people toward retail pharmacies, as retail pharmacies guide regarding medications and usage during treatment period.The online providers segment is projected to register highest CAGR during the forecast period owing to rise in popularity of online pharmacy and number of users preferring online providers.    

Region wise, North America accounted for largest pain patch market share in 2021 and is expected to remain dominant during the forecast period owing to rise in prevalence of chronic pain cases, presence of key players offering pain patches, ease of availability, higher awareness regarding pain patch, and developed healthcare infrastructure drive the growth of the pain patch market. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in investments for development of novel drug delivery system, surge in geriatric population and rise in awareness of advanced method for pain management thereby driving the growth of the market during the forecast period.    

Key findings of the study  

• On the basis of product type, the non-opioid segment dominated the pain patch industry in terms of revenue in 2021.  
• On the basis of type, the prescription medicines segment dominated the market in terms of revenue in 2021.  
• On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2021. However, the online providers segment is anticipated to grow at the highest CAGR during the forecast period.  
• Region wise, North America generated the largest revenue in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.