Topical Pain Relief Market Expected to Generate US$ 14.2 Billion, Expanding at CAGR of 6.4% During 2023-2028
According to the latest report by IMARC Group, titled “Topical Pain Relief Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global topical pain relief market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global topical pain relief market size reached US$ 9.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Topical pain relief refers to a type of medication that is applied directly to the skin to alleviate pain and discomfort. It comes in a variety of forms, including creams, gels, patches, and sprays that are formulated with lidocaine, menthol, or capsaicin, which work by blocking pain signals to the brain or by creating a cooling or warming sensation that can distract from the pain. It can be used to treat a wide range of conditions, from arthritis and muscle strains to back pain and headaches. It is often preferred by patients who do not want to take oral medications, such as those with stomach issues or those who are taking other medications that may interact with pain relievers as it can be applied directly to the affected area, allowing for targeted pain relief.
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Market Trends and Drivers:
The global market is primarily driven by the increasing prevalence of chronic pain among the masses. This can be attributed to the rising incidences of pain caused due to diabetic neuropathy, arthritis, multiple sclerosis, fibromyalgia, and shingles. Additionally, the growing number of individuals participating in sports activities is also contributing to the rising sales of these medications worldwide. Furthermore, the increasing number of cancer patients is leading to a rise in the sales of topical pain relievers across the globe.
In addition, easy product availability via e-commerce platforms and the advent of home delivery models are significantly supporting the demand. Moreover, numerous key players are also creating medications that simplify treatment and expand the applications of topical pain relief medications to elderly and pediatric populations, which is positively influencing the market.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- Advacare Pharma
- Exzell Pharma Inc.
- Glaxosmithkline Plc
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group Plc
- Sanofi S.A.
- Sun Pharmaceutical Industries Limited
- Topical Biomedics Inc
Key Market Segmentation:
Breakup by Therapeutic Class:
- Non-Opioids
- Opioids
Breakup by Formulation:
- Cream
- Gel
- Spray
- Patch
- Others
Breakup by Type:
- Prescription Pain Relief
- Over the Counter (OTC) Pain Relief
Breakup by Distribution Channel:
- Pharmacy and Drug Stores
- Retail Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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