U.S (New York)–This Topical Pain Relief Market Report gives evaluation and insights primarily based on authentic consultations with necessary gamers such as CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors etc.
The global topical pain relief market was valued at $7,481 million in 2017, and is projected to reach $13,276 million by 2025 at a CAGR of 7.4% from 2018 to 2025. Increase in prevalence of arthritis is the major factor that contributes towards the growth of the topical pain relief market. Moreover, other factors that fuel the market growth include growth in geriatric population, lesser side effects caused due to use of topical analgesics as compared to oral pain relief, and high demand for topical pain relief by sports players. However, topical pain relief medications can cause irritated skin and they have a strong odor or unpleasant smell that impede the market growth. Conversely, development of online platform for the topical therapeutics and high market potential in untapped emerging economies are expected to provide lucrative opportunities for the market growth.
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Pain treatment involves usage of common analgesics or painkillers to reduce and treat body pain. Whenever, these analgesics are applied directly to the skin they are known as topical pain relief medications. These include topical administration of drugs such as non-steroidal anti-inflammatory drugs, anesthetics, capsaicin, tricyclic antidepressants, ketamine, clonidine, opioids, and cannabinoids. Topical pain relief medications exert peripheral effects near the site of application and minimize the pain. Topical formulations used for pain relief include creams, ointments, gels, and newly developed drug-delivery systems, usually transdermal patches. They are mostly available as over-the-counter (OTC) products while some are available through prescription only.
The global topical pain relief market is segmented into therapeutic class, type, formulation, distribution channel, and region. Based on therapeutic class, the market is divided into non-opioids and opioids. The non-opioids segment is further divided into nonsteroidal anti-inflammatory drugs (NSAIDS), methyl salicylate, capsaicin, lidocaine, and other non-opioids. The opioids segment is further bifurcated into buprenorphine and fentanyl. Based on type, the market is segmented into prescription pain relief and over-the-counter (OTC) relief. Based on the formulation, the market is classified into cream, gel, spray, patch, and others. The distribution channels covered in the study include pharmacies & drug stores, e-commerce, and retail & grocery stores. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS
The study provides an in-depth analysis of the global topical pain relief market with current trends and future estimations from 2017 to 2025 to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
Johnson & Johnson
Novartis AG
GlaxoSmithKline Plc.
Pfizer Inc.
Reckitt Benckiser Group Plc.
Sanofi S.A.
Topical BioMedics, Inc.
AdvaCare Pharma
Sun Pharmaceutical Industries Ltd.
Nestle S.A.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Troy Healthcare, LLC
Emami Group
Chattem, Inc.
Exzell Pharma
Performance Health Technologies, Inc.
Key market segments
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 Formulation
Pharmacies & Drug Stores
e-Commerce
Retail & Grocery Stores
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By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
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