Market Insights
As per recent research by MarkNtel Advisors, The Global Topical Pain Relief Market size is valued at USD 9.5 Billion in 2022 & is projected to grow at a CAGR of around 7.5% during the forecast period, i.e., 2023-28.
Key Driver: Growing Prevalence of Arthritis, Chronic Disease, And Diabetic Neuropathy
There has been a significant rise in arthritis, other bone-related conditions, and also diabetic neuropathy among people, which is driving the adoption of topical therapeutics, thus acting as the key driver of the topical pain relief market. With the increasing number of people with joint pain problems, especially as the older generation population is increasing, the market is likely to expand further. Also, topical therapeutics provide instant comfort to people with injuries. So, the perpetual amount of accidents in the daily life of people also in various industries is likely to fuel the market growth.
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Market Segmentation and Consumer Behavior:
By Type
- Prescription Pain Relief
- Over-The-Counter Pain Relief
By Therapeutic Class
- Non-Opioids
- Nonsteroidal Anti-Inflammatory Drug
- Methyl Salicylate
- Capsaicin
- Lidocaine
- Opioids
- Buprenorphine
- Fentanyl
By Formulation
- Cream
- Gel
- Spray
- Patch
By Distribution Channel
- Pharmacy Drug Store
- E-Commerce
- Others
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Topical Pain Relief Market Geographical Analysis:
By Region :
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Key Players and Competitive Strategies in the Topical Pain Relief Market
Several prominent players dominate the Topical Pain Relief Market, including:
- AdvaCare Pharma
- GlaxoSmithKline plc.
- Sanofi
- Johnson & Johnson
- Novartis AG
- Reckitt Benckiser Group plc
- Sun Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Topical BioMedics, Inc. (Topricin)
- Exzell Pharma
- Emami Group
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Questions Addressed in this Study
1.What factors are driving the Topical Pain Relief Market growth?
2.How is the Topical Pain Relief Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Topical Pain Relief Market?
4.What is the current size of the Topical Pain Relief Market, and how is it projected to change in the future?
5.What is the future outlook for the Topical Pain Relief Market in terms of technological advancements and market expansion?
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