Non-Opioid Pain Patches Market

1. Non-Opioid Pain Patches Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global non-opioid pain patches market size was valued at USD 790.6 million in 2020 and is anticipated to expand at a CAGR of 4.5% during the forecast period, 2021-2028. The growth of the market is attributed to the increasing number of acute and chronic pain related disorders, along with the health benefits that the non-opioid pain patches provided to each patient. Non-Opioid pain patches have been introduced in early 2018 when the World Health Organization or the WHO census report stated that a large amount of the population were committing to death for the relief of pain, or the management of pain has been handled very poorly across the globe. The Centre for Disease Control and Prevention along with the National Institute of Drug Abuse reported a disturbing census that over 90 Americans died of opioid overdose every day. The opioids were not legal and were largely made on non-directed or regulated laboratories and sold at high prices. The WHO announced the legality of non-opioid pain patches to be legal across the globe to remedy this situation. Non-Opioid pain patches has mainly found applications which require the relief of severe, acute and chronic pain in most of the internal systems of the patient. It is a class of medication which can send reliefs, as well as cure addictions to unhealthy habits such as smoking. The prescriptions given by the physicians for the use of non-opioid pain patches becomes critical for the dosage and minimal requirements need to be met for using these patches. Using non-opioid patches on healthy individuals could be counter-productive in the long run. The COVID-19 pandemic has reduced the growth of the global non-opioid pain patches market. Researchers and scientists were not able to recognize the co-relation between the coronavirus and non- opioid pain patches. However, once the COVID-19 pandemic ends and when vaccinations reach the majority population of the globe, the non-opioid pain patches market is set to boost its growth to a double digit CAGR.

2. Market Trends, Drivers, Restraints, and Opportunities Increasing oil capacity is expected to boost the South Sudan oil and gas market growth. Rising investment in the oil & gas industry is expected to propel the growth of the market. The COVID-19 pandemic hampered the growth of the market due to trade disruption across the globe. However, relaxation in international trade is anticipated to help the market recover soon. Rapid growth in the renewable energy is expected to create challenges for the market growth in the coming years. Rising production through the use of enhanced oil recovery (EOR) to increase the production can create lucrative opportunities during the forecast period. High volatility in oil prices can restraint the market growth. Ongoing development and technological advancements in technology are anticipated to create lucrative opportunities for the South Sudan oil and gas market.        Sample - https://growthmarketreports.com/request-sample/1823 Market Segment Insights Lidocaine patches segment is estimated to signify a large market share Based on types, the global non-opioid pain patches market is segmented into lidocaine patches, diclofenac patches, methyl salicylate patches, capsaicin patches, ketoprofen patches, and others. The lidocaine patches segment is expected to constitute the major share of the market in 2019. These were the best patches available for the alleviant of pain, providing efficient drug delivery during the entire duration, and was available at low costs. Meanwhile the diclofenac patches segment is anticipated to grow with a significant CAGR during the forecast period, 2021-2028. The safety profile of this class in patches was the highest and it also showed great signs of increasing efficacy rates. Researchers and scientists have focused more on diclofenac patches and believe they can even be effective to the patient’s neurological system. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1823 Competitive Landscape Key market players have started engaging in numerous mergers and acquisition activities for the expansion of their product profiles. Acorda Therapeutics confirmed the acquisition of NeurogesX in 2018, after testing their two developed products five years ago and this strengthened their neuropathic pain management portfolios. The acquired products were Phase Three-Stage Product NP-1998 and Qutenza which found applications in the treatment of diabetic neurotherapy and postherpetic neuralgia, respectively. The major market players also engaged in various collaborations with different distribution companies in order to increase in product penetration. Richmar Inc declared the complete distribution of the product LidoFlex Pain Relief patch across the globe in 2019 with the help of Scrip Companies group, suppliers of physical therapy equipment, chiropractic products & supplies. About Growth Market Reports:

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