Medicated Pain Relieving Plasters Market: Introduction
Medicated pain relieving plasters are piece of fabrics that contains medication along with the layers of adhesives. These plasters comprises adhesive coating that can be helful for temporary relief of major or minor aches and pains of joints and muscles. Medicated pain relieving plasters offer cost effective way to treat conditions such as back pain, arthritis, muscle ache, osteoporosis, stain, bruises and others. Capsaicin, menthol, camphor, methyl salicylate, buprenorphine, fentanyl citrate and ketoprofen are major types of medicated pain relieving plasters. These plasters effectively and quickly deliver medication through the skin to underlying tissue of the body.
Medicated Pain Relieving Plasters Market: Growth Enablers
Aging population coupled with increasing prevalence of arthritis, musculoskeletal pain and others will boost the demand for medicated pain relieving plasters globally. In addition, several advantages of medicated pain relieving plasters over oral pain killer therapeutics will augment the market growth. For example, medicated pain relieving plasters allow the drugs to be directly absorbed into the damaged soft tissue as against the systemic route followed by oral analgesics, thus speeding up the healing process.
Additionally, medicated pain relieving plasters possess only administration site-related side effects such as skin irritation, burning sensation, rash, pruritus and dermatitis depending on the patient skin condition, whereas oral painkillers carry a risk of damaging the liver, intestines or stomach and other systemic effects. Moreover, consistent efforts by key companies to provide new and advanced medicated pain relieving plasters also drive the market growth. These factors would in turn boost the demand for medicated pain relieving plasters and hence stimulates the market growth. However, high cost of medicated pain relieving plasters will restrain the market growth. For example, a five-pack of salonpas arthritis pain patches costs a patient around USD 9, while patient can buy nearly 100 Advil pills at the same price.
Medicated Pain Relieving Plasters Market: Regional Insight
In terms of geography, North America accounted for the largest market share of medicated pain relieving plasters. The market of medicated pain relieving plasters in North America is majorly driven by rising incidences of disease such as arthritis, osteoporosis and others in North America. Europe is considered as the second largest market of medicated pain relieving plasters owing to increasing acceptance of pain relieving plasters among patient population. In addition, consistent efforts of key players to expand their market presence in Europe will further stimulate the growth of medicated pain reliving market.
Asia-Pacific (majorly India and China) is the emerging market for the global medicated pain relieving plasters owing to rising interest of companies to capitalize the untapped opportunities in this region. In addition, increasing incidences of arthritis and back pain in Asia-Pacific would further stimulate the market growth. For example, According to the Emirates Arthritis Foundation, 20% of the population of the UAE was diagnosed with arthritis in 2013. Additionally, the World Health Survey conducted in Kuwait suggested that 16.1% of the population suffered from arthritis in the country in 2013. Thus, high prevalence of arthritis and back pain in these regions has led to an increase in demand for medicated pain therapies in the region.
Medicated Pain Relieving Plasters Market: Key Players
Some of the key players engaged in medicated pain relieving plasters market are Zhejiang Dingtai Pharmaceutical Co., Ltd., Hisamitsu America, Inc., DSE Healthcare Solution LLC, Zhejiang Bangli Medical Products Co., Ltd., Anhui Dejitang Pharmaceutical Co., Ltd. and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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