Topical Pain Relief Market Report
The Global Topical Pain Relief Market is segmented by Therapeutic Class (Non-opioids [Nonsteroidal anti-inflammatory drug (NSAIDS), Methyl Salicylate, Capsaicin, Lidocaine, Other Non-opioids], Opioids [Buprenorphine, Fentanyl]), By Type (Prescription pain relief, Over-the-counter (OTC) Pain Relief), By Formulation (Cream, Gel, Spray, Patch, Others), By Distribution Channel (Pharmacies & Drug Stores, E-Commerce, Retail & Grocery Stores), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global topical pain relief market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.
The Global Topical Pain Relief Market is segmented by Therapeutic Class (Non-opioids [Nonsteroidal anti-inflammatory drug (NSAIDS), Methyl Salicylate, Capsaicin, Lidocaine, Other Non-opioids], Opioids [Buprenorphine, Fentanyl]), By Type ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Topical Pain Relief Market was valued at USD 8.82 billion in 2020 and is likely to reach USD 12.61 billion by 2026 at a CAGR of over 6.1% during the forecast period.
Figure: Global Topical Pain Relief Market Size, 2020-2026 (USD Billion)
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Topical pain relief medicines are directly applied to the epidermal layer of the skin in the area of pain or inflammation. These topical pain relief products are mainly developed to relieve pain and use the skin as the medium for drug administration and exert major action at the specific skin site and in the central nervous system.
Moreover, these chemical formulations are anesthetic or analgesic agents, which are applied on or around the painful site. The main focus is to provide a slow and gradual release of pain relief medication into the bloodstream by keeping the blood levels relatively constant for some time.
Key players operating in the global topical pain relief market are-
The growing prevalence of arthritis and other bone-related medical conditions, and diabetic neuropathy results in pain, thereby act as a key driver.
By therapeutic class, the topical pain relief market has been bifurcated into non-opioids and opioids.
By region, the North America market garnered the largest market share in 2020 and is likely to grow at a steady CAGR during the assessment period.
The outbreak of the COVID-19 virus has substantially affected the topical pain relief industry. A large number of clinics and pain services have witnessed a significant decline in the number of patient visits during the pandemic. In addition, most chronic pain services were considered non-urgent, both elective interventional and outpatient procedures were partially shut down or completely stopped during the COVID-19 period to curb the risk of the viral spread.
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The following is a list of the customers that the Topical Pain Relief market aims to convert the most:
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The topical pain relief market size is expected to reach USD 12.61 billion in the foreseeable future.
Johnson & Johnson (The U.S), Novartis AG (Switzerland), GlaxoSmithKline Plc. (UK), Pfizer Inc. (The U.S), Reckitt Benckiser Group Plc. (UK), Sanofi S.A. (France), Topical BioMedics, Inc. (The U.S), AdvaCare Pharma (India), Sun Pharmaceutical Industries Ltd. (India) and Nestle S.A. (Switzerland) are among the key players in the topical pain relief market.
The topical pain relief market is expected to witness an impressive growth of 6.1% CAGR in the coming years.
North America garnered the largest share in topical pain relief market in 2020.
The non-opioids segment is expected to register a healthy CAGR in the topical pain relief market in the coming years.
Growing prevalence of arthritis and other bone-related medical conditions, surge in the adoption of topical pain relief products due to fewer side effects in comparison to oral pain relief drugs, rise in the need for topical pain relief among sportsmen, and growing geriatric population worldwide are the factors driving the growth of topical pain relief market.
Topical pain relief companies, Topical pain relief vendors, R&D companies, Hospitals, Drug manufacturing companies are the target audience in the topical pain relief market.