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Topical Pain Relief Market to Reach $13.27 Bn, Globally, by 2025

Increase in geriatric population, rise in prevalence of arthritis, high demand from athletes, and lesser side effects as compared to conventional oral medicines facilitate the growth in the global topical pain relief industry. Non-opioids segment is likely to be lucrative from 2018 to 2025. Over-the-counter pain relief segment to lead in terms of revenue and growth by 2025. E-commerce segment to register the highest growth rate by 2025. Asia-Pacific to grow the fastest during the forecast period.

Portland, OR, April 16, 2019 (GLOBE NEWSWIRE) -- According to a report published by Allied Market Research, the global Topical Pain Relief market garnered $7.48 billion in 2017, and is expected to reach $13.27 billion by 2025, growing at a CAGR of 7.4% from 2018 to 2025. It offers a detailed analysis of changing market dynamics, top player positioning, market size & forecasts, regions, and key segments.

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Surge in geriatric population, growing prevalence of arthritis, high demand from athletes, and lesser side effects as compared to conventional oral medicines drive the growth in the topical pain relief market. However, side effects such as skin irritation restrain the growth in the market. On the other hand, growth of online pharmacy and untapped potential in emerging nations offer new opportunities in the industry.

Non-opioids accounted for nearly three-fourths of the total market share in 2017 and is expected to maintain its dominance throughout the forecast period. Moreover, this segment would register the highest CAGR of 7.6% from 2018 to 2025.

Over-the-counter pain relief contributed more than half of the market share in 2017 and is expected to continue its lead in terms of revenue by 2025. In addition, this segment would grow at the highest CAGR of 8.0% from 2018 to 2025. This is due to lower cost and ease in availability in comparison to counter pain relief products.

Cream contributed about two-fifths of the total revenue in 2017 and would maintain its dominance through 2025. This is due to its ability to offer long-lasting comfort and fast pain relief along with reduction in side effects and skin irritation. However, the patch segment would register the highest CAGR of 9.0% from 2018 to 2025.

E-commerce would grow at the fastest CAGR of 10.0% from 2018 to 2025. This is due to a significant increase in digital literacy among global population. However, pharmacies and drug stores contributed the largest market share in 2017 and is expected to dominate the market throughout the forecast period.

The market in Asia-Pacific is expected to become the fastest growing, registering a CAGR of 8.6% from 2018 to 2025. This is due to the rise in prevalence of chronic diseases including cancer, arthritis, diabetes, and others along with increase in investments by various multinational companies. However, North America held more than one-third of the total market share in 2017.

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The key market players analyzed in the report include Johnson & Johnson, GlaxoSmithKline Plc., Novartis AG, Reckitt Benckiser Group Plc., Pfizer Inc., Topical BioMedics, Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd., AdvaCare Pharma, and Nestle S.A.

/EIN News/ -- About Us:

Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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