Novel Product Launches to Drive the Global Topical Pain Relief Market Growth

The global Topical Pain Relief market is anticipated to grow significantly at a CAGR of 4.7% over the forecast period (2020-2026). The key aspect that drives the growth of the global Topical Pain Relief market is the rising prevalence of various chronic pain conditions such as low back pain, arthritis, headache, multiple sclerosis, and many others. For the treatment of such chronic pain conditions, the first preference of the treatment has always been given to the topical pain relievers as the aims only on the targeted area and offers instant relief. Thus, there has been a wide acceptance of topical pain relievers for the treatment of such chronic conditions.

Browse the full report description Global Topical Pain Relief Market Size, Share & Trends Analysis Report by Type (Prescribed and Over the Counter (OTC)), by Drug Class (Non-Opioids and Opioids), and by Formulation Type (Creams, Gels, Roll-Ons, Sprays, Sticks, Patches, and Others (Foams, Oils)) Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/topical-pain-relief-market

Besides, the presence of the key players continuously innovating novel technologies also enhances market growth. Players such as GlaxoSmithKline Plc, Johnson & Johnson Services Inc., Novartis AG, Pfizer Inc., Reckitt Benckiser Group Plc, Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and The Himalayan Drug Co. among others substantially contribute to the market growth. For instance, in March 2019, Teva Pharmaceutical Industries Ltd. launched Flector 1 Patch in the US. Flector 1 Patch is a Diclofenac Epolamine Topical Patch, a nonsteroidal anti-inflammatory drug (NSAID) which is especially for the topical treatment of acute pain that occurred due to minor sprains, strains, and contusions. Hence, the launch of novel products by the companies is likely to support the growth.

Market Coverage

• Market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Type, Drug Class, and Formulation Type
• Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
• Competitive Landscape- GlaxoSmithKline Plc, Johnson & Johnson Services Inc., Novartis AG, Pfizer Inc., Reckitt Benckiser Group Plc, Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and The Himalayan Drug Co. among others

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Topical Pain Relief Market – Segmentation

By Type

• Prescribed
• Over the Counter (OTC)

By Drug Class

• Non-Opioids
• Opioids

By Formulation Type

• Creams
• Gels
• Roll-Ons
• Sprays
• Sticks
• Patches
• Others (Foams, Oils)

Global Topical Pain Relief Market – Segmentation by Region