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Topical Pain Relief Market in U.S. Size to hit $3,730 million by 2026, at CAGR of 6.0% With Top Companies Johnson & Johnson, Novartis AG, GlaxoSmithKline Plc., Pfizer Inc., Reckitt Benckiser Group Plc.

04-07-2020 06:09 PM CET | Health & Medicine

Press release from: Allied Market Research

U.S. Topical Pain Relief Market

U.S. Topical Pain Relief Market

The U.S. Topical Pain Relief Market was valued at $2,324 million in 2017, and is projected to reach $3,730 million in 2025, registering a CAGR of 6.0% from 2018 to 2025.

Topical pain relief medications are pain killers that are designed to relieve pain as they are composed of different ingredients such as opioids, nonsteroidal anti-inflammatory drugs (NSAIDS), salicylates, capsaicin, and others. These products have a heating or cooling effect that stimulate the nerves near the pain point and relieve pain. When pain is localized, patients highly prefer topical treatments as adjunctive therapy, which can be as effective as oral treatments and cause fewer side effects. They are directly applied, rubbed, or sprayed on the skin over painful muscles or joints.

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The key factors that drive the U.S. topical pain relief market growth includes increase in prevalence of arthritis, rise in number of patient with joint pain, diabetic neuropathy, and other bone disorders across the U.S. In addition, rise in geriatric population, fewer side effects caused by topical pain relief as compared to oral medications, easy availability of medication, 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 is expected to provide lucrative growth opportunities for the U.S. 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 U.S. topical pain relief market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.

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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. However, the patch pain relief products segment is expected to grow at a CAGR of 7.6% during the forecast period.

The pharmacies & drug stores segment is the largest segment in the U.S. topical pain relief market, and is estimated to expand at a CAGR of 5.6% during the forecast period. On the other hand, the e-commerce segment is anticipated to record highest CAGR during the forecast period.

The Major Key Players Are:

Johnson & Johnson, Novartis AG, GlaxoSmithKline Plc., Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi S.A., Topical BioMedics, Inc., AdvaCare Pharma, Sun Pharmaceutical Industries Ltd., and Nestle S.A.

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Key Findings of the U.S. Topical Pain Relief Market:

o The opioids segment accounted for nearly one-fourth U.S. topical pain relief market share in 2017.
o The over-the-counter pain relief segment is expected to grow at highest CAGR from 2018 to 2025.
o The spray segment accounted for around one-eighth share of the U.S. market in 2017.

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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.

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