The latest report by IMARC Group, titled “Topical Pain Relief Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the topical pain relief market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global topical pain relief market size reached US$ 10.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.
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Topical Pain Relief Market Trends:
The increasing prevalence of chronic pain conditions such as arthritis and neuropathy are driving the global market. Moreover, the rising geriatric population, which is more susceptible to pain-related ailments, propels the demand for topical pain relief products. Furthermore, the growing preference for topical analgesics over oral medications due to fewer systemic side effects and ease of application enhances market expansion.
Additionally, the rise in sports-related injuries and accidents fuels the necessity for effective pain management solutions. Besides, continual advancements in formulation technologies have led to the development of innovative products that offer prolonged and targeted pain relief. The expanding awareness and accessibility of over the counter (OTC) pain relief medications further contribute to the market growth.
Topical Pain Relief Market Scope and Growth Analysis:
The market scope is broadening due to the introduction of novel drug delivery systems that improve the efficacy and patient compliance of topical analgesics. The growing trend towards self-medication and the availability of a wide range of OTC products play a significant role in expanding market reach. Moreover, the increasing integration of digital health technologies that facilitate remote consultations and telemedicine enhances accessibility to pain relief solutions.
Furthermore, the market is witnessing significant growth due to the rising awareness and education about pain management among patients and healthcare providers. The demand for pain relief products in home care settings is another crucial factor contributing to market expansion. The emergence of e-commerce platforms has made these products more accessible, driving global sales. Additionally, the ongoing research and development activities focused on identifying new therapeutic targets and creating advanced formulations are expected to provide substantial growth opportunities.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Advacare Pharma
- Exzell Pharma Inc.
- Glaxosmithkline Plc
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group Plc
- Sanofi S.A.
- Sun Pharmaceutical Industries Limited
- Topical Biomedics Inc.
Topical Pain Relief Market Segmentation:
Our report has categorized the market based on region, therapeutic class, formulation, type, and distribution channel.
Breakup by Therapeutic Class:
- Non-Opioids
- Opioids
Breakup by Formulation:
- Cream
- Gel
- Spray
- Patch
- Others
Breakup by Type:
- Prescription Pain Relief
- Over the Counter (OTC) Pain Relief
Breakup by Distribution Channel:
- Pharmacy and Drug Stores
- Retail Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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