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Topical Analgesic Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024

Topical

The “Topical Analgesic Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Topical Analgesic Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Topical Analgesic market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Topical Analgesic Market Are:

  • AdvaCare Pharma
  • GlaxoSmithKline plc.
  • Johnson & Johnson
  • Pfizer Inc.
  • Hisamitsu Pharmaceutical co.,inc.
  • Sanofi
  • Sun Pharmaceutical Industries Ltd
  • Topical BioMedics, Inc.
  • Teva Pharmaceutical Industries Ltd
  • List Not Exhaustive

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    Market Overview:

  • 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.

    Topical Analgesic Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Topical Analgesic market?
    • What are the key market trends impacting the growth of the global Topical Analgesic market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Topical Analgesic market?
    • What are the market opportunities and threats faced by the vendors in the global Topical Analgesic market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Topical Analgesic market?

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    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.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Topical Analgesic Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Topical Analgesic .

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    Report Objectives:

    • Analyzing the size of the Topical Analgesic market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Topical Analgesic market.
    • Determining the key dynamics of the Topical Analgesic market.
    • Highlighting significant trends of the Topical Analgesic market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Topical Analgesic market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Topical Analgesic market.

    Detailed TOC of Topical Analgesic Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Prevalence of Arthritis
    4.2.2 Rising Cases of Sports related Injuries
    4.2.3 Growing Geriatric Population
    4.3 Market Restraints
    4.3.1 Side Effects Related to Topical Analgesics
    4.4 Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Drug Type
    5.1.1 Non Opioids
    5.1.1.1 Nonsteroidal anti-inflammatory drugs (NSAIDS)
    5.1.1.2 Capsaicin
    5.1.1.3 Lidocaine
    5.1.1.4 Methyl salicylates
    5.1.1.5 Other Drug Types
    5.1.2 Opioids
    5.1.3 Other Opioids
    5.2 Formulation
    5.2.1 Cream
    5.2.2 Patch
    5.2.3 Spray
    5.2.4 Gel
    5.2.5 Other Formulations
    5.3 Type
    5.3.1 Over the Counter (OTC) Analgesic
    5.3.2 Prescription Analgesic
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 United Kingdom
    5.4.2.2 Germany
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of MEA
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 AdvaCare Pharma
    6.1.2 GlaxoSmithKline plc.
    6.1.3 Johnson & Johnson
    6.1.4 Pfizer Inc.
    6.1.5 Hisamitsu Pharmaceutical co.,inc.
    6.1.6 Sanofi
    6.1.7 Sun Pharmaceutical Industries Ltd
    6.1.8 Topical BioMedics, Inc.
    6.1.9 Teva Pharmaceutical Industries Ltd
    6.1.10 List Not Exhaustive

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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