MarkNtel Advisors, a leading market research company, presents its latest Global Topical Pain Relief Market Research Report Type (Prescription Pain Relief, Over-The-Counter Pain Relief), By Therapeutic Class (Non-Opioids [Nonsteroidal Anti-Inflammatory Drug, Methyl Salicylate, Capsaicin, Lidocaine], Opioids [Buprenorphine and Fentanyl]), By Formulation (Cream, Gel, Spray, Patch) and other forecasts [2023-2028]. This well-curated report contains in-depth information about the industry. In this comprehensive study, we have meticulously compiled every critical detail, catering to the Topical Pain Relief Market’s major and minor elements. Our focus extends to factors influencing market growth, encompassing historical, current, and projected data, emerging trends, technological advancements, key insights, recent developments, potential constraints, and various other factors that could significantly shape the industry’s trajectory in the foreseeable future.
The Global Topical Pain Relief Market was valued at USD 9.5 Billion 2022 and is projected to grow at a CAGR of around 7.5% during the forecast period, i.e., 2023-28.
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This section provides a comprehensive understanding of market dynamics, highlighting the significant contributions of major companies and their strategies for achieving success and sustainability. By examining the competitive landscape, clients can gain valuable insights into the driving forces behind the growth and evolution of the Topical Pain Relief Industry. Let’s familiarize ourselves with the key players in this competitive landscape: AdvaCare Pharma, GlaxoSmithKline plc., Sanofi, Johnson & Johnson, Novartis AG, Reckitt Benckiser Group plc, Sun Pharmaceutical Industries Ltd., Pfizer Inc., Topical BioMedics, Inc. (Topricin), Exzell Pharma, Emami Group.
Participation of People in Sports and Gym – The trend of having a physical activity or sport as a hobby to maintain the levels of daily physical activities is being adopted rapidly and is on the rise with the influence of social media and the internet. The growing awareness about keeping one healthy is leading to an increase in gym-goers, morning walkers, hikers, etc. This is leading to a surge in sales of topical painkillers or analgesics for managing pain, instant pain relief, and as a precaution in case of future injury or need.
Also for individuals who are intolerant to other routes of administration in treating pain, Topical painkillers provide an alternative effectual solution. It is advised to have some kind of topical therapeutic medication in hand or in a first aid kit, to prevent delay in treatment and as an instant solution, especially for hikers, campers, and gym goers, which further poses a lucrative growth opportunity for the industry.
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The summary of Topical Pain Relief market segmentation gives a quick look at different parts of the market. It helps businesses understand what customers like and where they are. By breaking down the market into smaller groups based on things like what people buy and where they live, companies can make better plans to sell their products. This summary is a simple guide to understanding the market better. The segmentations of the market are:
By Type
> Prescription Pain Relief
> Over-The-Counter Pain Relief
By Formulation
> Cream
> Gel
> Spray
> Patch
By Distribution Channel
> Pharmacy Drug Store
> E-Commerce
> Others
By Therapeutic Class
> Non-Opioids
> Opioids
Based on Therapeutic Class: Non-opioids therapeutic class accounted for the highest market share in the historic period and is expected to maintain its status throughout the forecasting period. This is owed to the consumer’s preference for non-opioids over opioid drugs for mild to moderate pain treatment as it offers lesser side effects than opioids and leaves no room for substance abuse or addiction.
On the geographical front, the Topical Pain Relief Market expands across:
Of all regions globally, Asia-Pacific is anticipated to attain a significant market share during the forecasting period. This growth is accustomed to the augmenting elderly population in several Asian countries, especially in India and China, which would lead to an increase in chronic ailments, and other joint and muscle issues and support the expansion of healthcare and refining of the medical sector.
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