The Global Topical Pain Relief Market was valued at USD 9.5 Billion 2022 and is projected to grow at a CAGR of around 7.5% during the forecast period, i.e., 2023-28.
Key Findings of the Study: Topical Pain Relief Market
Key Driver: Growing Prevalence of Arthritis, Chronic Disease, And Diabetic Neuropathy
There has been a significant rise in arthritis, other bone-related conditions, and also diabetic neuropathy among people, which is driving the adoption of topical therapeutics, thus acting as the key driver of the topical pain relief market. With the increasing number of people with joint pain problems, especially as the older generation population is increasing, the market is likely to expand further. Also, topical therapeutics provide instant comfort to people with injuries. So, the perpetual amount of accidents in the daily life of people also in various industries is likely to fuel the market growth.
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Scope of the Report and Topical Pain Relief Market Segmentation
By Type
-Prescription Pain Relief
-Over-The-Counter Pain Relief
By Therapeutic Class
-Non-Opioids
–Nonsteroidal Anti-Inflammatory Drug
–Methyl Salicylate
–Capsaicin
–Lidocaine
-Opioids
–Buprenorphine
–Fentanyl
- Non-opioids therapeutic class accounted for the highest market share in the historic period and is expected to maintain its status throughout the forecasting period.
By Formulation
-Cream
-Gel
-Spray
-Patch
By Distribution Channel
-Pharmacy Drug Store
-E-Commerce
-Others
Top leading companies in the Topical Pain Relief Market includes:
AdvaCare Pharma, GlaxoSmithKline plc., Sanofi, Johnson & Johnson, Novartis AG, Reckitt Benckiser Group plc, Sun Pharmaceutical Industries Ltd., Pfizer Inc., Topical BioMedics, Inc. (Topricin), Exzell Pharma, Emami Group
Topical Pain Relief Market Development
- In December 2022, Harrow Health purchasedS. rights to Novartis drugs.
- In March 2022, Sun Pharmaceutical Industries Ltd. presented phase 3 data for WINLEVI (clascoterone) cream 1% for the topical treatment of Acne Vulgaris at the AAD annual meeting.
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Geographical analysis:
North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain, The Netherlands, Norway
Asia-Pacific: China, India, Japan, South Korea, Australia, New Zealand
South America: Brazil, and Argentina
Middle East & Africa: UAE, Saudi Arabia, South Africa, Turkey
- Asia-Pacific is anticipated to attain a significant market share during the forecasting period.
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