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COVID-19: Potential Impact on Topical Pain Relief Market in U.S. Target to Grow $3.73 billion by 2025 | Johnson & Johnson, Novartis AG

08-10-2020 08:48 AM CET | Health & Medicine

Press release from: Allied Market Research

Topical Pain Relief Market

Topical Pain Relief Market

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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.

U.S. Topical Pain Relief Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2019-2026). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly changing market scenarios and their impact are covered in the report.

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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.

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.

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.

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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.

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

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

Contact:

David Correa
Portland, OR, United States
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About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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