Global Topical Pain Relief Market:Medications that are Changing the Face of Healthcare Industry at a CAGR of 7.4% with Top Key Players Like Johnson & Johnson, Novartis AG, GlaxoSmithKline Plc. and Pfizer Inc.

Allied Market Research published a report, titled, “Topical Pain Relief Market by Therapeutic Class (Non-Opioids and Opioids), Type (Prescription Pain Relief and Over-the-Counter Pain Relief), Formulation (Cream, Gel, Spray, Patch, and Others) and Distribution Channel (Pharmacies & Drug Stores, e-Commerce, and Retail & Grocery Stores) – Global Opportunity Analysis and Industry Forecast, 2018–2025.” The report states that the global topical pain relief market garnered $7.48 billion in 2017, and would garner $13.27 billion by 2025, with a CAGR of 7.4% from 2017 to 2025.

The report offers insights on key segments of the global topical pain relief market based on therapeutic class, type, formulation, distribution channel, and geography. The therapeutic class segment is further classified into non-opioids and opioids. the non-opioids segment contributed to the highest share of the market in 2017 in terms of revenue, owing to rise in usage in pain treatment and lesser side effects in comparison to opioids.

Based on type, the report bifurcates the market into prescription pain relief and over-the-counter pain relief. The over-the counter pain relief segment accounted for the major share in 2017 and this dominance would be maintained throughout the forecast period. Based on formulation, the study analyzes the market into cream, patch, spray, gel, and others. Owing to lesser side effects as compared to others and ease in availability, the cream segment dominated the market in 2017. However, the patch segment would register the largest CAGR of 9.0% during the forecast period.

The pharmacies & drug stores segment is the largest segment in the global topical pain relief market, and is estimated to expand at a CAGR of 6.9% during the forecast period. On the other hand, e-commerce segment is anticipated to record highest CAGR during the forecast period.

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The factors that drive the growth of the topical pain relief market include increase in prevalence of arthritis, diabetic neuropathy, and other bone disorders across the globe, rise in geriatric population, fewer side effects caused by topical pain relief as compared to oral medications, and high adoption of topical pain relief products by sportsperson. However, topical pain relief medications can cause irritation, and these products are usually characterized by an unpleasant odor which impede the market growth. Conversely, the development of an online platform for topical therapeutics and the untapped market potential in emerging economies are expected to provide lucrative growth opportunities for the market.

The non-opioids segment accounted for the largest share in 2017 owing to high usage in treatment of pain and lesser side effects as compared to opioids. By type, the over-the counter pain relief segment dominated the global topical pain relief market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.The utilization rate of cream pain relief products is high owing to high availability of these products with high success rate and lesser side effects.

Key players:

• 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.Troy Healthcare LLC

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