U.S. Topical Pain Relief Market to Reach $3.27 Billion by 2027: Says Allied Market Research

Growth in prevalence of arthritis, surge in demand for topical pain relief products from sportspeople, increase in geriatric people, and fewer side effects as compared to oral medicines drive the growth of the U.S. topical pain relief market. Based on formulation, the patch segment held the major share in 2019. By distribution channel, the e-commerce segment is expected to register the fastest growth rate by the forecast period.


Portland, OR, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The U.S. topical pain relief market garnered $2.61 billion in 2019 and is expected to reach $3.27 billion by 2027, growing at a CAGR of 3.7% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Growth in prevalence of arthritis, surge in demand for topical pain relief products from sportspeople, increase in geriatric people, and fewer side effects as compared to oral medicines drive the growth of the U.S. topical pain relief market. However, side effects associated with topical pain relief such as skin irritation and unpleasant odor of the products hamper the market growth. On the other hand, emergence of online pharmacy is anticipated to present lucrative opportunities in the near future.

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Covid-19 Scenario-

  • A huge number of clinics and pain services have undergone a decline in number of patient visits during COVID-19.
  • Most of the chronic pain facilities were considered non-urgent and both outpatient and elective interventional procedures were suspended to curb the spread of the COVID-19 pandemic.

The U.S. topical pain relief market is segmented into therapeutic class, type, formulation, distribution channel, and region. Based on therapeutic class, the non-opioids segment held the highest market share with more than two-thirds of the total share in 2019 and is expected to maintain its dominance by 2027. Moreover, this segment is anticipated to register the highest CAGR of 3.9% during the forecast period. The report also involves opioids segment.

Based on formulation, the patch segment held the major share in 2019, accounting for nearly three-fifths of the total market share, and is expected to maintain its dominance during the forecast period. In addition, the segment is expected to grow at the highest CAGR of 4.3% from 2020 to 2027.

Based on distribution channels, the pharmacies & drug stores segment dominated the market share, with more than two-thirds of the total revenue in 2019, and is expected to continue its leadership status by 2027. On the other hand, the e-commerce segment is projected to manifest the highest CAGR of 3.8% from 2020 to 2027.

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Leading market players analyzed in the market include Novartis AG, Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi, Sun Pharmaceutical Industries Ltd., Advacare Pharma, Glaxosmithkline Plc (GSK), Johnson & Johnson, Nestlé S.A., and Topical Biomedics, Inc.

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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.

 

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