Topical Pain Relief Market Size to Reach $12.21 Billion, Globally, by 2027 at 5.2% CAGR: Allied Market Research

Rise in prevalence of arthritis, surge in demand for topical pain relief products by sportsperson, and few side effects caused by these products drive the growth of the global topical pain relief market.


Portland, OR, March 25, 2021 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, Topical Pain Relief Market by Therapeutic Class (Non-Opioids and Opioids), Formulation (Cream, Gel, Spray, Patch, and Others), Type (Prescription Pain Relief and Over-the-Counter Pain Relief), and Distribution Channel (Pharmacies & Drug Stores, E-Commerce, and Retail & Grocery Stores): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global topical pain relief industry generated $8.86 billion in 2019, and is expected to reach $12.21 billion by 2027, witnessing a CAGR of 5.2% from 2020 to 2027.

Download Sample Report at: https://www.alliedmarketresearch.com/request-for-customization/1674?reqfor=covid

Drivers, restraints, and opportunities

Rise in prevalence of arthritis, surge in demand for topical pain relief products by sportsperson, and few side effects caused by these products drive the growth of the global topical pain relief market. However, skin irritation caused by the products and unpleasant odor hinder the market growth. On the other hand, emergence of online pharmacy and opportunities in emerging countries present new opportunities in the coming years.

Covid-19 Scenario

  • Owing to the lockdown imposed by governments of many countries, many clinics and pain relief services were closed down to curb the spread of Covid-19. During the post-lockdown, the clinics are expected to experience slow increase in the number of patients.
  • In addition, most of the chronic pain facilities were considered non-urgent to shift focus on treating coronavirus-infected patients. Both outpatient and selected interventional procedures were restricted or stopped completely to reduce the risk of the spread.

The non-opioids segment to maintain its leadership status throughout the forecast period

Based on therapeutic class, the non-opioids segment accounted for the highest market share in 2019, contributing to nearly three-fourths of the global topical pain relief market, and is expected to maintain its leadership status throughout the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 5.5% from 2020 to 2027. This is attributed to its preferable use over opioid drugs for treatment of mild to moderate pain, lesser side effects as compared to opioids, and no room for substance abuse. The research also analyzes the opioids segment.

Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/1674

The patch segment to continue its lead position during the forecast period

Based on formulation, the patch segment accounted for the largest market share in 2019, holding more than half of the global topical pain relief market, and is expected to continue its lead position during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 5.5% from 2020 to 2027. This is due to slow and gradual release of pain relief medication into the bloodstream by keeping the blood levels constant for a certain period.

North America to maintain dominant share by 2027

Based on region, North America contributed to the highest market share in 2019, accounting for nearly two-fifths of the global topical pain relief market, and is expected to maintain dominant share by 2027. This is due to the early approval of topical pain relief medications and high adoption of over-the-counter pain relief products along with presence of major market players in the region. However, Asia-Pacific is estimated to maintain the fastest CAGR of 6.5% during the forecast period, due to surge in affordability, rise in healthcare expenditure, and increase in awareness towards safe pain relief products in this region.

Leading market players

  • Advacare Pharma
  • Glaxosmithkline Plc (GSK)
  • Johnson & Johnson
  • Nestlé S.A.
  • Novartis AG
  • Pfizer Inc.
  • Reckitt Benckiser Group Plc.
  • Sanofi
  • Sun Pharmaceutical Industries Ltd.
  • Topical Biomedics, Inc.


Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.


Similar Reports:

Pain Management Devices Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

Veterinary Pain Management Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Neuropathic Pain Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Pain Management Drugs Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Non-opioid Pain Patch Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Next Generation Sequencing (NGS) Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Disposable Medical Gloves Market - Global Opportunity Analysis and Industry Forecast, 2019–2027


About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

Contact Data