The “Topical Analgesic Market“ Report is a meticulous investigation of current scenario of the market, which covers several market dynamics. The Topical Analgesic Market Report also provides an analytical assessment of the prime challenges faced by Topical Analgesic Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Topical Analgesic Market over a longer period of time.
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Topical Analgesic Market report studies the world market size of Topical Analgesic in key regions like North America, Europe, Asia Pacific, Central & South America and Mideast & Africa, focuses on the consumption of Topical Analgesic in these regions. The various contributors concerned within the price chain of Topical Analgesic embrace makers, suppliers, distributors, intermediaries, and customers.
The topical analgesic market (hereafter, referred to as the market studied) is expected to witness a CAGR of 7.43% during the forecast period. Certain factors that are driving the market growth include increasing prevalence of arthritis, rising cases of sports-related injuries, and growing geriatric population.
A sports injury is creating a huge demand for topical analgesics among athletes. As per the Centers for Disease Control and Prevention (CDC), more than 2.6 million pediatric patients are treated in emergency departments for sports-related injuries each year. In accordance with the National Safety Council (NSC), in 2017, exercise and the use of exercise equipment led to the most of the sports-related injuries in the United States, with more than 526,000 injuries reported. The same source indicated that basketball, followed with about 500,000 injuries, while bicycling, with 457,000 injuries and football, with 341,000 injuries, ranked third and fourth. Topical options for sports-related injuries act as convenient alternative or adjunct to oral medications, since they provide pain relief with minimal systemic adverse events.
Other factors, such as rising geriatric population and increasing prevalence of arthritis are also expected to drive the market studied over the forecast period.
Although the adverse effects arising from topical pain relief products are rare, skin irritation and other complication might restrict its usage and consequently affects the market growth. Some common side effects are stinging of skin and dry skin problem. Apart from these, burning sensation, hypersensitivity drug reaction, hives might occur.
Scope of the Report
Topical analgesics are recommended to use when patients experience acute and chronic muscle and joint pain, in order to get relief from their symptoms. The products are applied directly to the skin, instead of being injected or swallowed. The topical analgesics are available in the forms of creams, lotions, spray, gel, or patch. The topical analgesics are obtained as prescription analgesics and OTC analgesics as well. The OTC topical analgesics are intended to treat mild to moderate pain for not more than 7 days unless otherwise directed by a physician. However, several factors must be considered when selecting an OTC topical analgesic, which include dosage form, cost, ease of use, odor, and the patient’s medical history, including possible allergies.
Key Market Trends
Non-opioids are Expected to Hold Significant Market Share in the Drug Type
In recent years, with emerging chronic pain conditions, the topical route for pain management has seen a resurgence of interest, owing to its potential to deliver therapeutic doses of medication directly to a painful site, circumventing the GI tract, and without any requirement for a needle. Topical NSAIDs are found to be more effective in treating acute pain from strains, sprains, contusions, or overuse injuries in superficial locations. Various formulations of topical diclofenac are available in the market for the treatment of acute and chronic pain, including Voltaren gel, Pennsaid solution, and Flector patch, and are used in the setting of osteoarthritis or musculoskeletal pain. As per the recommendation of National Institute for Health and Care Excellence (NICE), topical NSAIDs in the first instance for joint pain associated with osteoarthritis, in preference to oral NSAIDs are prescribed by the healthcare professionals, owing to concerns over systemic side effects caused by the long term use of oral NSAIDs.
This makes topically applied NSAIDs to be the first choice for physicians in the initial treatment of pain and which further creates immense commercial opportunity in the present market.
The Market is Dominated by North America and is Expected to do Same in the Forecasted Period
North America is estimated to dominate the industry, owing to well-established healthcare facilities, rising geriatric population, and growing prevalence of chronic pain. In recent years, it has been found that pain affects more Americans than diabetes, heart disease, and cancer combined, which further influence adults to seek medical care. Pain is one of the key reasons behind the leading cause of disability and a major contributor to health care costs in the United States. As per the data provided by the Centers for Disease Control and Prevention (CDC), chronic pain range from 11% to 40% among the adults of the United States. The high prevalence of chronic pain thus indicates the importance of topical pain relief products and consequently helps to drive its market. Apart from this, the growing prevalence osteoarthritis acts as one of the key driving factors of the topical analgesic market in the United States, which affects around 30 million US adults. In the United States, the Food and Drug Administration (FDA) has approved several topical products that contain the prescription NSAID diclofenac in the form of gels, liquids, and patches for the treatment of osteoarthritis.
The topical analgesic market is highly competitive and consists of a number of major players. Companies like GlaxoSmithKline plc., Johnson & Johnson, Pfizer Inc., Sun Pharmaceutical Industries Ltd, and AdvaCare Pharma among others, hold the substantial market share in the topical analgesic market.
Various developments have recently been taking place in the market, such as in March 2019, Teva Pharmaceutical Industries Ltd, announced the launch of an authorized generic of Flector 1 Patch, 1.3%, in the US Diclofenac Epolamine Topical Patch, 1.3%, a nonsteroidal anti-inflammatory drug (NSAID), is indicated for the topical treatment of acute pain arising from minor strains, sprains, and contusions.
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Topical Analgesic Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Topical Analgesic Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Topical Analgesic market on the basis of product type, application, and region
- To forecast and analyze the size of the Topical Analgesic market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Topical Analgesic market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Topical Analgesic market
- To analyze opportunities in the Topical Analgesic market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Topical Analgesic market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Topical Analgesic Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Topical Analgesic trade
Marketing Channel Development Trend
Topical Analgesic Market Positioning
Distributors/Traders List enclosed in Positioning Topical Analgesic Market
Topical Analgesic Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Topical Analgesic Market 2019 report presents the descriptive analysis of the Topical Analgesic Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Topical Analgesic Market competitors.
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