Pain patches, also known as topical analgesics or transdermal patches, are medicated adhesive patches designed to deliver pain relieving medications through the skin and into underlying tissues. They provide a controlled and localized delivery of the drug through the skin at a predetermined rate for a specified period of time. Pain patches not only offer convenience but also achieve targeted drug delivery at the site of pain and avoid side-effects associated with oral medications. Common pain patch medications include lidocaine, diclofenac, buprenorphine, and fentanyl. They are widely used for localized pain management in conditions like back pain, neck pain, joint pain, and postoperative and sports injury 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% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising geriatric population is one of the major drivers of growth of the pain patch market. According to estimates by the United Nations, the proportion of global population aged over 60 years is expected to nearly double from 12% to 22% between 2015 and 2050. Growing elderly population has significantly contributed to the rising prevalence of chronic and degenerative joint disorders leading to chronic pain. Pain patches are largely used for managing chronic musculoskeletal pain conditions that are very common among the geriatric population. Furthermore, rapid increase in age-related health issues including arthritis, back pain, osteoporosis which predominantly cause chronic pain also drives the demand for pain patches.
Another major driver for the pain patch market growth is the rising preference for topical over oral pain medications due to advantages offered by pain patches over oral medications like ease of application, targeted action, and avoidance of gut irritation and first-pass liver metabolism allowing administration of higher drug doses. They are also associated with fewer systemic side effects and better medication compliance.
SWOT Analysis:
Strength: The pain patch market has a growing aging population which experiences various chronic and acute pain conditions. This increases the demand for pain patches as they provide convenient transdermal drug delivery. Pain patches also ensure steady drug levels in the body with once-a-day application and remove needs for repeated dosing. Their non-invasive nature makes them preferable for patients who have difficulty swallowing tablets.
Weakness: Pain patches have limited ability to deliver high dosage drugs due to complex pharmacokinetics of transdermal administration. Certain drugs also have poor skin permeability which restricts their formulation in patches. Patch adhesion can also be affected by excessive perspiration, use of moisturizers and bathing. This impacts effectiveness of treatment.
Opportunity: Growth in incidence of musculoskeletal disorders and sports injuries provides scope for pain patches. Additionally, increasing uptake of generic drugs post patent expiry of major pharmaceutical brands expands the untapped potential. Emergence of novel drug delivery technologies can help overcome current limitations and enhance drug permeation in patches.
Threats: Stiff competition from oral analgesics poses pricing challenges. Strict regulatory norms for new drug approvals and manufacturing extend product launch timelines. Advent of alternative delivery modes like injections and sprays can steer patient preference away from patches.
Key Takeaways:
The global pain patch market is expected to witness high growth over the forecast period supported by rising geriatric population suffering from arthritis and other conditions. Furthermore, growth in incidence of sports injuries and work-related muscle strains among younger consumers will drive sales. 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% over the forecast period 2023-2030.
North America presently dominates due to several FDA approvals and adoption of management for chronic pain. However, Asia Pacific is poised to grow at a high rate fueled by expanding healthcare infrastructure and large patient pools in India and China seeking affordable treatments.
Key players operating in the pain patch market are Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson, Pfizer Inc., Novartis AG, Mylan N.V. These companies have established their brands through extensive R&D in transdermal drug delivery systems. Hisamitsu Pharmaceutical maintains a leading position with its Mylan patch for post-herpetic neuralgia. In future, players may consider partnering with local Asian manufacturers to penetrate emerging markets.
