Product Code: RP-ID-10324791 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10324791
Market Overview:
Impact analysis of COVID-19 on Topical Pain Relief Global Market Outlook 2028
Global Topical Pain Relief Market Analysis 2020-2028
Topical pain relief market comprises of opioid and non-opioid analgesics that are offered as creams, foams, gels, lotions, ointments and others. These analgesics are applied to body surfaces such as the skin or mucous membranes to treat painful ailments. Topical pain relief offers high concentrations of drug in peripheral effector sites, as opposed to the low serum levels of those sites on the back of which undesirable side effects are much lower on topical analgesic application. The global topical pain relief market is anticipated to achieve a CAGR of 4.31% over the forecast period, i.e. 2021-2028. Factors such as increasing investments from leading pharmaceutical companies as well as government organizations for R&D activities, increasing elderly population, growing prevalence of musculoskeletal disorders, such as osteoarthritis and autoimmune arthritis along with the growing technological advancements pertaining to the development of transdermal patches for pain management are anticipated to contribute significantly towards the growth of the global topical pain relief market. Additionally, growing popularity of topical as well as transdermal creams and patches among the sportspersons and the growing concern for arthritis, especially osteoarthritis are some of the factors anticipated to drive the growth of the global topical pain relief market.
The global topical pain relief market consists of various segments that are segmented by therapeutic class, formulation, distribution channel and by region. The formulation segment is further sub-divided into cream & rubs, patch, spray, gel and others. Out of these, the cream & rubs segment held a value of USD 2521.95 million in the year 2019 and is anticipated to reach a value of USD 3581.22 million by the end of 2028 by growing at a CAGR of 4.10% over the forecast period.
Based on region, the global topical pain relief market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for 20.21% share in the year 2019, is estimated to witness the highest CAGR of 5.02% over the forecast period and cross a value of USD 2392.52 by the end of 2028.
Some of the affluent industry leaders in the global topical pain relief market are Reckitt Benckiser Group plc, Teikoku Pharma USA, Inc., Topical BioMedics, Inc., Sun Pharmaceutical Industries Ltd., AdvaCare Pharma®, Sanofi, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc. and GlaxoSmithKline plc.
Reckitt Benckiser Group plc, Teikoku Pharma USA, Inc., Topical BioMedics, Inc., Sun Pharmaceutical Industries Ltd., AdvaCare Pharma®, Sanofi, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc. and GlaxoSmithKline plc
Related Reports
Proof of Quality & Reliability
