The global topical pain relief market size was valued at $8,864.0 million in 2019, and is projected to reach $12,219.7 million by 2027 at a CAGR of 5.2% from 2020 to 2027.
Surge in prevalence of arthritis, demand by sportsperson and athletes, and fewer side effects as compared to oral medicines drive the U.S. topical pain relief market. However, skin irritations caused by topical pain relief products and unpleasant odor hinder the market growth. On the other hand, emergence of online pharmacy presents new opportunities in the coming years.
Rise in prevalence of arthritis, surge in demand for topical pain relief products by sportsperson, and few side effects caused by these products drive the growth of the global topical pain relief market. However, skin irritation caused by the products and unpleasant odor hinder the market growth. On the other hand, emergence of online pharmacy and opportunities in emerging countries present new opportunities in the coming years.
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Topical Pain Relief Market Segmentation
Based on therapeutic class, the non-opioids segment accounted for the highest market share in 2019, contributing to nearly three-fourths of the global topical pain relief market, and is expected to maintain its leadership status throughout the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 5.5% from 2020 to 2027. This is attributed to its preferable use over opioid drugs for treatment of mild to moderate pain, lesser side effects as compared to opioids, and no room for substance abuse. The research also analyzes the opioids segment.
Based on formulation
The patch segment accounted for the largest market share in 2019, holding more than half of the global topical pain relief market, and is expected to continue its lead position during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 5.5% from 2020 to 2027. This is due to slow and gradual release of pain relief medication into the bloodstream by keeping the blood levels constant for a certain period.
Based on region
North America contributed to the highest market share in 2019, accounting for nearly two-fifths of the global topical pain relief market, and is expected to maintain dominant share by 2027. This is due to the early approval of topical pain relief medications and high adoption of over-the-counter pain relief products along with presence of major market players in the region. However, Asia-Pacific is estimated to maintain the fastest CAGR of 6.5% during the forecast period, due to surge in affordability, rise in healthcare expenditure, and increase in awareness towards safe pain relief products in this region.
Leading market players
- Advacare Pharma
- Glaxosmithkline Plc (GSK)
- Johnson & Johnson
- Nestlé S.A.
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group Plc.
- Sanofi
- Sun Pharmaceutical Industries Ltd.
- Topical Biomedics, Inc.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current trends and future estimations from 2019 to 2027, which assist to identify the prevailing topical pain relief market opportunities.
- An in-depth topical pain relief market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future topical pain relief market potential from 2019 to 2027, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
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