Global Topical Pain Relief Market Size To Worth USD 17.16 Billion By 2033 | CAGR of 5.06%
Category: HealthcareGlobal Topical Pain Relief Market Size To Worth USD 17.16 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Topical Pain Relief Market Size is Expected to Grow from USD 10.47 Billion in 2023 to USD 17.16 Billion by 2033, at a CAGR of 5.06% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 120 Market data tables and figures & charts from the report on the "Global Topical Pain Relief Market Size, Share, and COVID-19 Impact Analysis, By Type (Prescription Pain Relief and Over the Counter (OTC) Pain Relief), By Distribution Channel (Pharmacy and Drug Stores, Retail Stores, and Online Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/topical-pain-relief-market
The topical pain relief market is the area of the healthcare industry focused on developing, producing, and distributing products for topical pain management. These treatments are typically used directly to the skin to reduce pain from a range of conditions, such as sprains, arthritis, sports injuries, and back pain. The market for topical pain relief products includes creams, gels, ointments, patches, and sprays that contain active ingredients such as lidocaine, menthol, capsaicin, or non-steroidal anti-inflammatory drugs (NSAIDs). Increased prevalence of bone-related conditions including arthritis and diabetic neuropathy is an important driver of the global market for topical pain relief. The market expansion for topical pain management is being driven by the aging population, which is more prone to conditions including osteoarthritis, joint pain, and other musculoskeletal disorders. The market for topical pain management is primarily driven by the rising incidence of chronic pain conditions including arthritis and back pain, the growing need for non-invasive treatment options, and growing awareness of the benefits of topical therapies. However, several obstacles, including the potential for skin irritation and the disagreeable odor of topical opioids, restrict the growth of the topical pain relief market.
The over-the-counter (OTC) pain relief segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the topical pain relief market is classified into prescription pain relief, and over the counter (OTC) pain relief. Among these, the over-the-counter (OTC) pain relief segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. OTC pain treatment is very popular due to its availability in pharmacies, supermarkets, and online platforms, as well as its convenience of purchase without a prescription.
The online stores segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the distribution channel, the topical pain relief market is divided into pharmacy and drug stores, retail stores, and online stores. Among these, the online stores segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The purchase process is streamlined and buyer confidence is increased by the abundance of online stores that offer thorough product descriptions, user reviews, and recommendations.
North America is estimated to hold the largest share of the topical pain relief market over the forecast period.
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North America is estimated to hold the largest share of the topical pain relief market over the forecast period. North America is positioned as a leader in this industry due to its proactive healthcare plans and emphasis on pain management education, which ensures continued market expansion and the adoption of cutting-edge solutions.
Asia Pacific is predicted to grow at the fastest CAGR growth in the topical pain relief market over the forecast period. The rising incidence of musculoskeletal disorders and the growing need for non-invasive pain management techniques are driving the topical pain relief market in the Asia-Pacific (APAC) region.
Major key players in the topical pain relief market include Advacare Pharma, Novartis AG, Reckitt Benckiser Group Plc., Mylan N.V., Johnson & Johnson, Exzell Pharma Inc., Pfizer Inc., Sanofi S.A., Glaxosmithkline Plc., Topical Biomedics Inc., Endo International plc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In September 2024, Mankind Pharma has launched Nimulid Strong, a topical analgesic gel and spray with 2X diclofenac concentration, targeting neck pain relief. The product is backed by the GardanHilaateRaho campaign, highlighting the importance of neck mobility in communication.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the topical pain relief market based on the below-mentioned segments:
Global Topical Pain Relief Market, By Type
- Prescription Pain Relief
- Over the Counter (OTC) Pain Relief
Global Topical Pain Relief Market, By Distribution Channel
- Pharmacy and Drug Stores
- Retail Stores
- Online Stores
Global Topical Pain Relief Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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