DUBLIN--(BUSINESS WIRE)--The "Topical Pain Relief Market by Therapeutic Class, Type, Formulation and Distribution Channel - Global Opportunity Analysis and Industry Forecast, 2018-2025" report has been added to ResearchAndMarkets.com's offering.
The global topical pain relief market was valued at $7,481 million in 2017, and is projected to reach $13,276 million in 2025, registering a CAGR of 7.4% from 2017 to 2025.
The factors that drive the growth of the topical pain relief market include increase in prevalence of arthritis, diabetic neuropathy, and other bone disorders across the globe, rise in geriatric population, fewer side effects caused by topical pain relief as compared to oral medications, and high adoption of topical pain relief products by sportspersons.
However, topical pain relief medications can cause irritation, and these products are usually characterized by an unpleasant odor which impedes the market growth. Conversely, the development of an online platform for topical therapeutics and the untapped market potential in emerging economies are expected to provide lucrative growth opportunities for the market.
The non-opioids segment accounted for the largest share in 2017 owing to high usage in treatment of pain and lesser side effects as compared to opioids.
By type, the over-the counter pain relief segment dominated the global topical pain relief market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.
The utilization rate of cream pain relief products is high owing to high availability of these products with high success rate and lesser side effects. However, the patch pain relief products segment is expected to grow at a CAGR of 9% during the forecast period.
- AdvaCare Pharma
- GlaxoSmithKline Plc
- Johnson & Johnson
- Nestle S.A.
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group Plc
- Sun Pharmaceutical Industries Ltd.
- Topical BioMedics Inc.
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