The topical pain relief global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Topical Pain Relief Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
topical pain relief market size has grown strongly in recent years. It
will grow from $9.98 billion in 2023 to $10.74 billion in 2024 at a
compound annual growth rate (CAGR) of 7.6%. The growth in the historic
period can be attributed to prevalence of chronic conditions, prevalence
of sports-related injuries, understanding of online pharmacy, increase
in prevalence of arthritis, increase in the number of older people.
The topical pain relief market size is expected to see strong growth in the next few years. It will grow to $13.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing prevalence of joint pains and arthritis, increasing demand among athletes, increasing adoption of pain management devices and patches, e-commerce platform growth, rising drug development, rising healthcare costs. Major trends in the forecast period include increasing number of cancer patients, easy product availability, advent of home delivery models, increasing number of individuals participating in sports activities, innovation in formulations.
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Scope Of Topical Pain Relief Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Topical Pain Relief Market Overview
Market Drivers -
The
growing prevalence of arthritis and bone-related disorders is expected
to propel the growth of the topical pain relief market going forward.
Arthritis and bone-related disorders encompass medical conditions that
affect the joints, bones, and surrounding tissues. Topical pain relief
is often used to manage arthritis and bone-related disorders to
alleviate localized pain, inflammation, and discomfort associated with
these conditions, particularly in more superficial joints. For instance,
in November 2021, according to the Centers for Disease Control and
Prevention (CDC), a US-based health protection agency, in the US, there
were 54.4 million adult-aged people diagnosed with arthritis, and it is
expected to reach 78 million by 2040. Further, in March 2021, according
to Lancashire County Council, a UK-based upper-tier local authority,
there were an estimated 470,000 workers affected by work-related
musculoskeletal disorders between 2020 and 2021. Therefore, the growing
prevalence of arthritis and bone-related disorders is driving the growth
of the topical pain relief market.
Market Trends -
Major
companies operating in the topical pain relief market are focused on
developing innovative products such as pain relieving cream to meet the
growing demand for effective pain relief products. Pain relieving cream
is an external cream that provides penetrating pain relief to help numb
minor joint and muscle soreness. For instance, in August 2023, Kenvue
Inc., a US-based consumer health company, launched a new topical
pain-relieving cream called Tylenol, a precise pain-relieving cream. It
is designed to provide maximum-strength lidocaine (4%) without a
prescription. It comes in two formats: a rapid-absorbing formula and a
uniquely designed rollerball for hands-free, no-mess application. The
cream is fragrance-free and comes in fresh scent options for discreet
use. Additionally, its features provide maximum-strength lidocaine for
targeted and rapid pain relief, catering to consumers looking for
effective and convenient solutions.
The topical pain relief market covered in this report is segmented –
1) By Type: Prescription Pain Relief, Over-The-Counter (OTC) Pain Relief
2) By Formulation: Cream, Gel, Spray, Patch, Other Formulations
3) By Therapeutic: Non-Opioids, Opioids
4) By Distribution Channel: Pharmacies And Drug Stores, E-Commerce, Retail And Grocery Stores
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Regional Insights -
North
America was the largest region in the topical pain relief market in
2023. The regions covered in the topical pain relief market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the topical pain relief market report are Pfizer Inc.,
Johnson & Johnson, Abbvie Inc., Bayer AG, Novartis AG, Sanofi S.A. ,
Bristol Myers Squibb Co., GlaxoSmithKline Plc, Acella Pharmaceuticals
LLC, Eli Lilly and Company, Reckitt Benckiser Group plc, Viatris Inc.,
Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc.,
Sun Pharmaceutical Industries Ltd., Perrigo Company PLC, Galderma S.A.,
Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Ltd.,
Lupin Limited, Almirall S.A., AdvaCare Pharma, Roivant Sciences Inc.,
Topical BioMedics Inc.
Table of Contents
1. Executive Summary
2. Topical Pain Relief Market Report Structure
3. Topical Pain Relief Market Trends And Strategies
4. Topical Pain Relief Market – Macro Economic Scenario
5. Topical Pain Relief Market Size And Growth
…..
27. Topical Pain Relief Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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