Topical Pain Relief to See Huge Growth & Profitable Business

Topical pain relief medications are applied directly to the epidermal layer of the skin at the area of inflammation or pain. Topical pain relief products are designed to relieve pain and utilize skin as the vehicle for drug administration and exert major action at the targeted site & in the central nervous system. These formulations are analgesic or anesthetic agents, which are applied on or around the painful site. The aim is to offer a slow and gradual release of pain relief medication into the bloodstream by keeping the blood levels relatively constant for a certain period of time. These medications offer lesser side effects as compared to oral medications. Topical pain relievers include the administration of non-opioids and opioids drugs. Non-opioids drugs include nonsteroidal anti-inflammatory drugs (NSAIDS), methyl salicylates, capsaicin, lidocaine, and other non-opioids. Opioids drugs include buprenorphine and fentanyl.

The growth of the global topical pain relief market is majorly driven by increase in prevalence of arthritis and other bone-related conditions, diabetic neuropathy, leading to pain. Other factors that boost the market growth include rise in adoption of topical pain relief products as they cause lesser side effects as compared to oral pain relief, upsurge in geriatric population across the world, and increase in demand for topical pain relief by sports players. However, factors such as topical pain relief medications can cause irritated skin and they have a strong odor or unpleasant smell that hamper the topical pain relief market growth. Conversely, the development of online platform for topical therapeutics is expected to provide lucrative growth opportunities for the market.

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The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe.

Nationwide lockdown, government regulations, and continuous increase in infection rate across the country created a widespread financial impact on clinics and pain services. Large number of clinics and pain services has witnessed a drop in number of patient visits amid COVID-19 ultimately reducing client contact. Moreover, most chronic pain facilities were deemed non-urgent, both outpatient and elective interventional procedures were limited or stopped during the COVID-19 pandemic to minimize risk of the viral spread. Thus, a negative impact of COVID-19 on opioids topical pain relief market is observed.

The COVID-19 outbreak is anticipated to impact the growth of the global topical pain relief market. The COVID-19 pandemic has stressed healthcare systems of the world. A huge number of clinics and pain services have undergone a decline in number of patient visits during COVID-19.

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Subsequently, most chronic pain facilities were deemed non-urgent, both outpatient and elective interventional procedures were limited or stopped during the COVID-19 pandemic to minimize risk of the viral spread. Patients with COVID-19 who are receiving opioids treatment can be more susceptible to respiratory depression and the absorption of fentanyl drug during transdermal administration such as fentanyl patch may increase with fever and could increase opioid side-effects. Whereas, patients who are prescribed transdermal opioids drugs shows the side effects such as sedation, nausea and vomiting, and respiratory depression. Thus, global topical pain relief market had a negative impact due to COVID-19.

Topical Pain Relief Market Segmentation

The global topical pain relief market is segmented into therapeutic class, type, formulation, and distribution channel. On the basis of therapeutic class, the market is bifurcated into non-opioids and opioids. The non-opioids segment is further divided into nonsteroidal anti-inflammatory drugs (NSAIDS), methyl salicylate, capsaicin, lidocaine, and other non-opioids. The opioids segment is further bifurcated into buprenorphine and fentanyl. On the basis of type, the market is segmented into prescription pain relief and over-the-counter (OTC) relief. On the basis of formulation, the market is classified into cream, gel, spray, patch, and others. The distribution channels covered in the study include pharmacies & drug stores, e-commerce, and retail & grocery stores. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Segment review

Presently, on the basis of therapeutic class, non-opioids segment is the major revenue contributor, and is projected to grow significantly during the forecast period due to its preferable use over the opioid drugs for treatment of mild to moderate pain. Due to less side effects as compared to opioids and no substance abuse, non-opioids are the preferred choice for the treatment of pain. However, due to restricted analgesic effects of the non-opioid drugs, their use is limited for the treatment of severe pain.

Increase in awareness regarding adverse effects of non-opioids, surge in number of geriatric populations, growth in number of patients with chronic pain, rise in prevalence of arthritis and other joint problems, majorly drive the growth of this segment. Arthritis is one of the most common and widely spread disorder that affects millions of people in the U.S. According to Centers for Disease Control and Prevention data, approximately 22.8% of total adult population was affected by arthritis in 2017.

According to distribution channel, the market is classified into pharmacies & drug stores, e-commerce, and retail & grocery stores. The e-commerce segment is anticipated to depict significant growth during the forecast period due to rise in preference for online purchase of drugs over the traditional methods, increase in awareness of online pharmacy, and rise in number of internet users.

The key players profiled in this report include Advacare Pharma, Glaxosmithkline Plc (GSK), Johnson & Johnson, Nestlé S.A., Novartis AG, Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi, Sun Pharmaceutical Industries Ltd., and Topical Biomedics, Inc.

Region segment review

North America accounted for the majority of the global topical pain relief market share in 2019 and is anticipated remain dominant during the forecast period. This is attributed to the early approval of topical pain relief medications and high adoption of over-the-counter pain relief products in this region. Furthermore, the market in this region experiences growth due to the presence of majority of key players. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness toward safe pain relief products in this region.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current trends and future estimations from 2019 to 2027, which assist to identify the prevailing topical pain relief market opportunities.
• An in-depth topical pain relief market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• Region-wise and country-wise market conditions are comprehensively analyzed in this report.
• The projections in this report are made by analyzing the current trends and future topical pain relief market potential from 2019 to 2027, in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the global topical pain relief market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the market.

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