Many people experience chronic pain during their daily activities, owing to which they seek therapies like icing the area, using a heating pad, or OTC (over-the-counter) painkillers. However, since these oral medications cause issues for several people that experience chronic pain, most doctors & pharmacists now suggest topical pain relief medications like creams, gels, sprays, & patches as viable alternatives to conventional pain pills.
These are applied, sprayed, or rubbed directly to the skin's epidermal layer at & around the area of inflammation or pain. These medications are analgesic or anesthetic formulations that help relieve pain using skin as the path for drug administration by exerting major action at the targeted site & in the central nervous system.
In view of their growing demand worldwide, a recent research report has revealed that the Global Topical Pain Relief Market is set to register around 7.5% CAGR during 2023-28. The globally rising incidence of arthritis, particularly osteoarthritis, coupled with technological advancements in transdermal patches for pain management and massive R&D investments by pharmaceutical companies & government organizations, are driving the market.
Moreover, the increasing number of e-pharmacies owing to growing consumer inclination toward buying topical therapeutics online is another prominent factor boding well for the topical pain relief industry. Now, let us take a deeper dive into understanding the prominent aspects further stimulating the overall industry expansion through the future years across the globe.
Top Factors Underlying the Topical Pain Relief Market Dynamics
Geographical Landscape of the Industry
Globally, the Asia-Pacific Topical pain Relief Market holds a significant market share. It ascribes primarily to the rising elderly population in several Asian countries, especially in India & China, i.e., leading to the growing incidence of chronic ailments, coupled with massive investments in healthcare infrastructure developments.
Additionally, improving disposable incomes, rising consumer awareness of the availability & advantages of safer pain management & relief products, and the burgeoning demand for long-term pain management pharmaceuticals with fewer side effects are further propelling the regional market expansion.
On the other hand, North America continues to create numerous growth prospects for the leading players operating in the topical pain relief industry to generate significant revenues. It owes to the early approval of therapeutics, the high adoption rate of OTC pain relief products, the extensive presence of the leading industry participants, and state-of-the-art healthcare facilities, especially in the US & Canada.
With the globally increasing patient pool of joint pain problems and the rise in the elderly population, the topical pain relief market is set to witness notable expansion in the coming years, as these therapeutics provide instant relief to people with injuries. More & more people are showing interest in physical activities and joining gyms & clubs to maintain a healthier lifestyle, thanks to the advent of Covid-19, which resulted in ever-increased health consciousness among people. Hence, the incidence of chronic pain or inflammation is rising worldwide, i.e., leading to the increasing sales of topical painkillers or analgesics for people to get instant relief or as a precaution in case of future injury. Also, for individuals who are intolerant to other administration routes for pain treatment, topical medications are gaining immense popularity as a highly effective solution, thereby augmenting the overall market expansion.