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Topical Pain Relief Market is projected to reach $13,276 million by 2025 at a CAGR of 7.4%

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Topical Pain Relief Market is projected to reach $13,276 million by 2025 at a CAGR of 7.4%

September 28
16:19 2019
 Topical Pain Relief Market is projected to reach $13,276 million by 2025 at a CAGR of 7.4%

Topical Pain Relief Market
High prevalence of different types of pain cases and upsurge in adoption of topical based therapy have driven the growth of the market for topical pain relief in the recent years. Recently, a paradigm shift has been observed in the development of personalized medications, as this type of products offers additional advantages for patients, in terms of safety.

Topical pain relief medications are pain killers that are directly applied, rubbed, or sprayed on the skin over painful muscles or joints. They are designed to relieve pain as they are composed of different ingredients such as opioids, nonsteroidal anti-inflammatory drugs (NSAIDS), salicylates, capsaicin, and others. These products have a heating or cooling effect that stimulate the nerves near the pain point and relieve pain. When pain is localized, patients highly prefer topical treatments as adjunctive therapy, which can be as effective as oral treatments and cause fewer side effects.

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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 sportsperson. However, topical pain relief medications can cause irritation, and these products are usually characterized by an unpleasant odor which impede 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 9.0% during the forecast period.

The pharmacies & drug stores segment is the largest segment in the global topical pain relief market, and is estimated to expand at a CAGR of 6.9% during the forecast period. On the other hand, e-commerce segment is anticipated to record highest CAGR during the forecast period.

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Key Findings of the Topical Pain Relief Market :

  • The opioids segment accounted for nearly one-fourth share of the global topical pain relief market in 2017.
  • The over-the-counter pain relief segment is expected to grow at highest CAGR from 2018 to 2025.
  • The spray segment accounted for around one-eighth share of the global market in 2017.
  • Europe accounted for around one-fourth share of the global market in 2017.
  • LAMEA is expected to provide lucrative market growth opportunities from 2017 to 2025.

North America was the leading revenue contributor to the global topical pain relief market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the early approval of topical pain relief medications and high adoption of over-the-counter pain relief products in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 8.6% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards safe pain relief products.

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