Topical Pain Relief Market in U.S. is Generating Revenue of $3.73 Billion by 2025
Pune, Maharashtra, India, February 22 2021 (Wiredrelease) Allied Analytics –:Topical pain relief medications are pain killers that 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. They are directly applied, rubbed, or sprayed on the skin over painful muscles or joints.
The U.S. Topical Pain Relief Market was valued at $2.32 billion in 2017, and is projected to reach $3.73 billion in 2025, registering a CAGR of 6.0% from 2018 to 2025.
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1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The key factors that drive the U.S. topical pain relief market growth includes increase in prevalence of arthritis, rise in number of patient with joint pain, diabetic neuropathy, and other bone disorders across the U.S. In addition, rise in geriatric population, fewer side effects caused by topical pain relief as compared to oral medications, easy availability of medication, 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 is expected to provide lucrative growth opportunities for the U.S. market.
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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 U.S. 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 7.6% during the forecast period.
The pharmacies & drug stores segment is the largest segment in the U.S. topical pain relief market, and is estimated to expand at a CAGR of 5.6% during the forecast period. On the other hand, the e-commerce segment is anticipated to record highest CAGR during the forecast period.
The Major Key Players Are:
Johnson & Johnson, Novartis AG, GlaxoSmithKline Plc., Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi S.A., Topical BioMedics, Inc., AdvaCare Pharma, Sun Pharmaceutical Industries Ltd., and Nestle S.A.
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Key Findings of the U.S. Topical Pain Relief Market:
• The opioids segment accounted for nearly one-fourth U.S. topical pain relief market share 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 U.S. market in 2017.
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