Topical Pain Relief Market Size Estimated to Reach $12.1 Billion by 2027

Topical Pain Relief Market | IndustryARC
The Increase in Tragedies Such As Road Accidents and Other Chronic Ailments Such As Heart Attacks, Blood Clotting Is Driving the Topical Pain Relief Market.

Topical Pain Relief Market size is estimated to reach $12.1 billion by 2027, growing at a CAGR of 5.3% during the forecast period 2022-2027. The word “Topical” signifies administering something unswervingly to body parts. Therefore, topical medication includes several medicines in form of creams, sprays, and many more that are used as pain relievers. Innumerable Nonsteroidal anti-inflammatory drugs and cannabinoids are used to treat osteoarthritis, glaucoma, and chronic maladies such as heart attacks, blood clotting complications, tenderness, and Agony. Other than that, Tricyclic antidepressants like Amoxapine, Norpramin, and Amitriptyline have come to the forefront as depression has become an indispensable part of contemporary society.

Elevation in misfortunes like road crashes fatalities power the demand for anesthetics as such drugs anesthetize administered part of the body and succor doctors to execute medical procedures. Heightening the old age population across the globe is set to drive the growth of the Topical Pain Relief Industry for the period 2022-2027.

Topical Pain Relief Market Segment Analysis-By Class

The Topical Pain Relief Market based on the class type can be further segmented into Opioids (Tapentadol, Oxycodone, Morphine, and others), non-opioids (Aleve, Tylenol, and others). The Opioid medications segment held the largest share in 2021 owing to the factors such as wide-ranging usage and accessibility of opioids. As the pervasiveness of numerous chronic sicknesses is shooting up so is the use of such narcotics. These drugs are fairly facilitative in discharging pains accompanied by a heart attack, back, joints, inflammation, etc.

Moreover, the Opioid segment is estimated to be the fastest-growing segment with a CAGR of 6.1% over the period 2022-2027. This growth is owing to the flourishing sporting culture around the globe leading to elevation in sports injuries, accruing elderly population, sweeping intensification in road accident incidents, broadening prevalence complications associated with joint disorders. Moreover, salts such as Tapentadol are recommended to be used for the treatment of neuropathic pain which is often seen in patients suffering from diabetes. The growing prevalence of diabetes, for example, in the US around 10.5% of the entire population is diabetic, and the prevalence is only growing owing to sedentary lifestyle and unhealthy eating habits.  The said reason can directly benefit the segment growth.

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Topical Pain Relief Market Segment Analysis-By Distribution Channel

The Topical Pain Relief Market based on the Distribution channel can be further segmented into Hospital Pharmacies, Retail pharmacies, Drug stores, Online platforms, and Others. The Retail Pharmacy segment held the largest share in 2021 owing to the factors such as across the board presence of retail pharmacy stores even in pastoral areas. On another hand, maximum drugs in such stores are available without any prior prescription from a medical practitioner.

However, the online segment is estimated to be the fastest growing with a CAGR of 6.4% over the forecast period 2022-2027. This growth is owing to rapid digitalization resulting in better online infrastructure. Making online purchases instead of visiting drug stores extends a plethora of benefits such as convenience, saving time, universal presence of digital platforms as their delivery services are ubiquitous. In June 2021, Tata Digital Ltd acquired a majority stake of the online health platform- 1MG to now become Tata 1MG. Owing to such developments, the segment would offer steadfast opportunities.

Topical Pain Relief Market Segment Analysis-By Geography

The Topical Pain Relief based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as health acquainted population, superior healthcare infrastructures such as top-notch hospitals, high-class laboratories with world-class facilities in the US and Canada, an extensive network of retail pharmacies and drug stores in every state. Additionally, the geriatric population is on the verge to become extremely dominant. For example, as by 2060, adults above the age of 65+ would take up to 24%, which currently stands close to 16%.

However, Asia-pacific is estimated to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to augmenting the elderly population in several Asian nations especially in India and China, sweeping increase in chronic ailments and other joint disorders, expanding healthcare spending refining the medical sector.

Topical Pain Relief Market Drivers

Enlarging the old-age population across the globe is Projected to Drive Market Growth. 

Around 19% of total Europe’s population falls under the category of geriatric population. Similarly, 10.1% population in India belongs to the old-age category. Out of the total world’s population that is 7.9 billion a big faction of people is aging above 65 and is anticipated to widen up to 2 billion in the foreseeable future. As a result, are several complications such as muscle pain, osteoarthritis, heart attacks, etc. are preponderating and ultimately appraised to enhance the demand of the Topical Pain Relief market.

Expansion in osteoarthritic, chronic maladies, and sports or accident injuries are Expected to Boost Product Demand.

According to a report by the world health organization around 0.2 to 1% of 7.9 billion people are inflicted with rheumatoid arthritis an inflammatory sickness that leads to several complications from joint disorder to immune hitches. This percentage is anticipated to crest sweepingly in the upcoming future. In addition to that, as support culture is prevailing so are the sports injuries. According to the WHO report, approximately more than 1 million people deceased in road accidents and the majority of them happen in poor and developing countries. Therefore, the number is anticipated to go beyond 2-2.5 million as the purchasing power of people is shooting up and they are making automobile purchases.

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Topical Pain Relief Market Challenges

A plethora of side effects associated with opioids is Anticipated to Hamper Market Growth.

Yes, Opioids are used astonishingly in treatments of joint complications, back pain, tenderness, headache, pain associated with cancer ailments, etc. but the dark side of these drugs is that these pose a plethora of hazardous side effects such as nausea, mild concussions, breathing complications, and many more. Besides these one of the prime hitches associated with these drugs is addiction. People become restless once they stop consuming such drugs which can be deadly.

Topical Pain Relief Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Topical Pain Relief Market.  The top 10 Topical Pain Relief market companies are

Johnson & Johnson

Sanofi

Topical Biomedics Inc.

Reckitt Benckiser Group Plc.

Advacare pharma

Pfizer

Novartis AG

Sun Pharmaceutical Industries Ltd.

Nestle S.A.

GlaxoSmithKline Plc.

Recent Developments

March 1, 2021, “Salonpas” a pain-relieving gel for patients inflicted with arthritis (knee, hands, ankles, etc.) is made available in the market. The topical gel is developed by Hisamitsu America. Hisamitsu America recently released the results of its latest clinical trial, bolstering the case for topical pain relievers as a first-line treatment for pain. Further, it is a non-greasy gel that helps in reducing inflammation and provides ease at the sight of pain.

In February 2020, US FDA upgraded and approved the status of three products. The said change is known as an Rx to OTC switch. Amongst the three products, Voltaren Arthritis Pain, an NSAID which works by reducing the substances which in turn cause pain in patients. The said drug was approved in 2007 but was under the jurisdiction of prescription medicine. Voltaren Arthritis Pain is not for immediate relief and may take up to 7 days to work.

In June 2020, GSK Consumer Healthcare has now teamed up with Paula Abdul, who would publicize the product “Voltaren Arthritis Pain Gel”, which has received the nod from FDA to be used as an OTC drug. The joint statement given confirms the message that “Staying active is important for arthritis patients everywhere, and together, Voltaren and Paula Abdul will inspire people to “rediscover the joy of movement”. Moreover, the joint pain pertaining issues have been increasing owing to the lockdown like restrictions and work from home policies.

Key Takeaways:

Geographically, the North America Topical Pain Relief Market accounted for the highest revenue share in 2021 owing to the presence of major pharma companies and the activities pertaining to R&D. However, Asia-pacific is poised to dominate the market over the period 2022-2027 owing to the surging prevalence of maladies such as osteoarthritis, glaucoma elevating the old-age population of Asian nations.

The increase in tragedies such as road accidents and other chronic ailments such as heart attack, blood clotting, etc. is driving the Topical Pain Relief market. However, side effects associated with several opioid and non-opioid drugs are one of the major factors that are said to reduce the growth of the Topical Pain Relief Market.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Topical Pain Relief Market report.

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