The Topical Pain Relief market is growing at a robust rate on account of the rising incidence of arthritis, chronic disease and diabetic neuropathy among people and the booming geriatric population. The demand for pain relief product among sports person in order to seek relief from muscular pains including neck, shoulder and back pain and strain. The others factor such as topical pain relief products have lower side effects compared with oral medicines is also contributing to the growth of the market. Besides this, easily available via online pharmacy and the launch of the new innovative product is anticipated to escalate the demand for topical pain relief product in the forecast period.
Key questions answered in the study:
According to MarkNtel Advisors’ research report “Global Topical Pain Relief Market Analysis, 2021”, the market is anticipated to grow at a CAGR of around 7.5% during 2021-26. Based on Formulation, Gel acquired a significant market share in 2020. The demand for gel-based body pain product is surging as it gets absorbed quickly into the skin and works effectively on muscle pain. Besides this, the launch of gel-based topical pain relief product by the market players is fueling the growth of the segment.
“Global Topical Pain Relief Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Topical Pain Relief providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Dominated the Market
North America dominated the Topical Pain Relief market in 2019 on account of a significant rise in the number of genetic counsellors. The US acquired the majority market share in the North America segment. The growth is accredited to the launch of the innovative product by the market plays such as fast relief gels and patches, increase adoption of medications over oral medications for pain management in the U.S. and increasing prevalence of musculoskeletal injuries among people. MSDs are among the most common causes of severe long-term pain and physical disability in America. Therefore, this is further expected to grow the demand for the Topical Pain Relief market in the region as stated in MarkNtel Advisors’ research report “Global Topical Pain Relief Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Topical Pain Relief market are 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