Topical Analgesic Market 2022 - Business Strategies, Product Sales and Growth Rate, Assessment to 2027

The Topical Analgesic market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Topical Analgesic Market share and Market size prominent players for 2022 to 2027 are profiled in this report.

The Topical Analgesic Market is expected to register a CAGR of 7.43% over the forecast period 2022 - 2027.

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Competitive Landscape:

AdvaCare Pharma, GlaxoSmithKline plc., Johnson & Johnson, Pfizer Inc., Hisamitsu Pharmaceutical co.,inc., Sanofi, Sun Pharmaceutical Industries Ltd, Topical BioMedics, Inc., Teva Pharmaceutical Industries Ltd, List Not Exhaustive and Others

Industry News:

In March 2019, Teva Pharmaceutical Industries Ltd, announced the launch of an authorized generic of Flector 1 Patch, in the United States. It is Diclofenac Epolamine Topical Patch, a nonsteroidal anti-inflammatory drug (NSAID) indicated for the topical treatment of acute pain arising from minor strains, sprains, and contusions.

Key Market Trends:

Non-opioids are Expected to Hold Significant Market Share in the Drug Type

- In recent years, with emerging chronic pain conditions, the topical route for pain management has seen a resurgence of interest, owing to its potential to deliver therapeutic doses of medication directly to a painful site, circumventing the GI tract, and without any requirement for a needle. Topical non-opioids are found to be more effective in treating acute pain from strains, sprains, contusions, or overuse injuries in superficial locations.
- As per the recommendation of National Institute for Health and Care Excellence (NICE), topical NSAIDs in the first instance for joint pain associated with osteoarthritis, in preference to oral NSAIDs are prescribed by the healthcare professionals, owing to concerns over systemic side effects caused by the long term use of oral NSAIDs. 

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The Market is Dominated by North America and is Expected to do Same in the Forecasted Period

- North America topical analgesics is estimated to dominate the industry, owing to well-established healthcare facilities, rising geriatric population, and growing prevalence of chronic pain. In recent years, it has been found that pain affects more Americans than diabetes, heart disease, and cancer combined, which further influence adults to seek medical care. Pain is one of the key reasons behind the leading cause of disability and a major contributor to health care costs in the United States.
- As per the data provided by the Centers for Disease Control and Prevention (CDC), chronic pain range from 11% to 40% among the adults of the United States. In 2016, an estimated 20.4% of U.S. adults had chronic pain and 8.0% of U.S. adults had high-impact chronic pain. The high prevalence of chronic pain thus indicates the importance of topical pain relief products and consequently helps to drive its market.

Regional Analysis for Topical Analgesic Market:

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

Highlights about Topical Analgesic report coverage:

- A complete background analysis, which includes an assessment of the Global Topical Analgesic Market.

- Important changes in Topical Analgesic market dynamics

- Topical Analgesic Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Topical Analgesic market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Topical Analgesic industry developments

- Topical Analgesic Market shares and strategies of key players

- Emerging niche Topical Analgesic segments and regional markets

- An objective assessment of the trajectory of the Topical Analgesic market

- Recommendations to companies for strengthening their foothold in the Topical Analgesic market

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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This release was published on openPR.