PUBLISHER: The Business Research Company | PRODUCT CODE: 1455537
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455537
Topical pain relief involves the application of analgesic medications directly to the skin or mucous membranes with the aim of alleviating pain. These products are specifically formulated to offer localized relief by delivering active ingredients directly to the area of pain or inflammation. Topical pain relief is commonly used to address conditions such as muscle aches, joint pain, arthritis, or injuries, providing targeted and localized relief without affecting the entire body.
Topical pain relief comes in two main types such as prescription pain relief and over-the-counter (OTC) pain relief. Prescription pain relief involves medications or treatments that can only be obtained with a prescription from a healthcare professional. These prescription options are available in various formulations, such as creams, gels, sprays, patches, and others. They may include both non-opioid and opioid therapeutics and are typically distributed through pharmacies, drug stores, e-commerce platforms, as well as retail and grocery store channels.
The topical pain relief market research report is one of a series of new reports from The Business Research Company that provides topical pain relief market statistics, including topical pain relief industry global market size, regional shares, competitors with a topical pain relief market share, detailed topical pain relief market segments, market trends and opportunities, and any further data you may need to thrive in the topical pain relief industry. This topical pain relief market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The topical pain relief market size has grown strongly in recent years. It will grow from $9.98 billion in 2023 to $10.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to several factors, including the prevalence of chronic conditions, a rise in sports-related injuries, increased awareness and utilization of online pharmacies, a higher incidence of arthritis, and a growing population of older individuals. These factors collectively contributed to the historical expansion in the demand for topical pain relief products.
The topical pain relief market size is expected to see strong growth in the next few years. It will grow to $13.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to factors such as the increasing prevalence of joint pains and arthritis, a rising demand among athletes for effective pain relief, the growing adoption of pain management devices and patches, the expansion of e-commerce platforms, increased investment in drug development, and the overall rise in healthcare costs. Major trends expected in the forecast period encompass a growing number of cancer patients, the ease of product availability, the emergence of home delivery models, a rising number of individuals participating in sports activities, and ongoing innovation in topical pain relief formulations.
The increasing prevalence of arthritis and bone-related disorders is expected to drive the growth of the topical pain relief market. Conditions affecting the joints, bones, and surrounding tissues often necessitate the use of topical pain relief to manage localized pain, inflammation, and discomfort, especially in more superficial joints. According to the Centers for Disease Control and Prevention (CDC) in November 2021, the US had 54.4 million adults diagnosed with arthritis, projected to reach 78 million by 2040. Additionally, Lancashire County Council reported in March 2021 that between 2020 and 2021, an estimated 470,000 workers in the UK were affected by work-related musculoskeletal disorders. The increasing prevalence of arthritis and bone-related disorders is a significant factor propelling the growth of the topical pain relief market.
Major companies in the topical pain relief market are concentrating on developing innovative products, such as pain-relieving creams, to meet the rising demand for effective pain relief solutions. Pain-relieving creams, external creams providing penetrating pain relief for minor joint and muscle soreness, are gaining popularity. In August 2023, Kenvue Inc., a US-based consumer health company, introduced Tylenol, a new topical pain-relieving cream. This precise pain-relieving cream offers maximum-strength lidocaine (4%) without a prescription, available in rapid-absorbing formula and rollerball formats for hands-free, no-mess application. The cream, featuring a fragrance-free option and fresh scent choices, is designed to cater to consumers seeking convenient and effective pain relief solutions.
In a strategic move, Wellnex Life Limited, an Australia-based health and wellness company, acquired Painaway Australia Pty Ltd. for $13.6 million in December 2023. This acquisition is expected to significantly enhance Wellnex's '100%-owned' brand portfolio in the topical pain relief segment, providing immediate scale and strengthening the company. Painaway Australia Pty Ltd., the acquired company, is a manufacturer of topical pain relief products based in Australia.
Major companies operating in the topical pain relief market report are Pfizer Inc., Johnson & Johnson, Abbvie Inc., Bayer AG, Novartis AG, Sanofi S.A., Bristol Myers Squibb Co., GlaxoSmithKline Plc, Acella Pharmaceuticals LLC, Eli Lilly and Company, Reckitt Benckiser Group plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Sun Pharmaceutical Industries Ltd., Perrigo Company PLC, Galderma S.A., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Ltd., Lupin Limited, Almirall S.A., AdvaCare Pharma, Roivant Sciences Inc., Topical BioMedics Inc.
North America was the largest region in the topical pain relief market in 2023. The regions covered in the topical pain relief market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the topical pain relief market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The topical pain relief market consists of sales of such as lotions, instant relief creams, roll-ons, pumps of lotion, analgesic creams, powders and rubs. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Topical Pain Relief Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on topical pain relief market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for topical pain relief ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The topical pain relief market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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