What Has Been the Growth of the Topical Pain Relief Market So Far?
The topical pain relief market has seen considerable growth due to a variety of factors.
• In recent times, the size of the topical pain relief market has displayed robust growth. The market's growth is expected to continue, increasing from $10.74 billion in 2024 to 11.54 billion in the subsequent year at a Compound Annual Growth Rate (CAGR) of 7.4%.
The uplift observed in the historical period is predominantly due to factors such as the high prevalence of chronic diseases, the increased occurrence of sports-related injuries, a growing comprehension of online pharmacies, an uptick in arthritis incidence, and a surge in the geriatric population.
What Are the Future Growth Projections for the Topical Pain Relief Market?
The topical pain relief market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for robust expansion in the topical pain relief market in upcoming years, with projections reaching up to $14.45 billion by 2029, acheiving a compound annual growth rate (CAGR) of 5.8%.
This assured growth during the predicted period is due to factors such as the rising incidence of joint pains and arthritis, the escalating demands in athletic circles, surging adoption of pain management devices and patches, growth of e-commerce platforms, increased drug development, and elevated healthcare expenses. The forecast period will also witness significant trends including an increased cancer patient count, ease of product accessibility, the emergence of home delivery models, a surge in individual involvement in sports-related activities, and innovative advancements in formulations.
What Are The Core Factors Supporting Growth In The Topical Pain Relief Market?
The escalating incidence of arthritis and bone-related diseases is anticipated to spur the expansion of the topical pain relief market in the future. These health conditions impact the bones, joints, and surrounding tissues. Topical pain relief is commonly utilized to manage arthritis and bone-related diseases to soothe the local pain, inflammation, and discomfort linked with these illnesses, particularly in superficial joints. For example, the Centers for Disease Control and Prevention (CDC), a health protection agency based in the US, stated in February 2024 that in 2022, 18.9% of adults were diagnosed with arthritis, with a higher frequency in women (21.5%) compared to men (16.1%). The incidence climbed with age, reaching a peak of 53.9% among individuals aged 75 and above, and was higher amongst non-Hispanic Black and White adults. The rates reduced with increasing income and in cities. Consequently, the escalating incidence of arthritis and bone-related diseases forms a key driver for the expansion of the topical pain relief market.
What Are The Major Segments Within The Global Topical Pain Relief Market?
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
Subsegments:
1) By Prescription Pain Relief: Prescription Creams And Gels, Prescription Patches, Compounded Topical Analgesics
2) By Over-The-Counter (OTC) Pain Relief: Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Counterirritants, Analgesic Creams And Gels
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What Trends Are Reshaping The Future Of The Topical Pain Relief Market?
Leading companies in the topical pain relief market are concentrating on creating novel items like pain relieving cream to satiate the burgeoning demand for efficacious pain relief products. The pain relieving cream is an external product that offers deep pain relief, alleviating minor joint and muscle discomfort. For instance, Kenvue Inc., a consumer health firm based in the U.S., unveiled a new topical pain-relieving cream–Tylenol, in August 2023. This cream has been formulated to provide the utmost-strength lidocaine (4%) over the counter and comes in two variations: a rapid absorption formulation, and a distinctively created rollerball for a mess-free, hands-free application. The cream, devoid of fragrance, comes with fresh scent choices for subtle use. Also, its characteristics supply maximum-strength lidocaine for swift pain relief specifically targeting consumers looking for efficacious and convenient options.
Who Are the Key Players In The Topical Pain Relief Market?
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.
What Is The Most Dominant Region In The Topical Pain Relief Market?
North America was the largest region in the topical pain relief market in 2024. The regions covered in the topical pain relief market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
