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Topical Analgesic Market Prominent Growth Rate 2019 | Top Key Players, Demand Status Analysis, Share, Industry Size with Forecast Till 2024

Topical

TheTopical Analgesic Marketresearch report 2019-2024 focuses on provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data. Topical Analgesic Market report also provides the current industry outlook with respect to key players, types, applications, countries and regions. The major drivers, restraints, opportunities and threats for key players is also included. It also provides granular analysis of market share, segmentation, revenue forecasts and regional analysis till 2024.

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.

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    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.

    List of Key Manufacturers Covered in Topical Analgesic Market:

  • 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

    Topical Analgesic Market Report Covers the Following: –

    • The report covers forecast and analysis for the market on a global and regional level.
    • The report includes the drivers and the restraints that affect the growth of the market.
    • The report discusses detailed information about the market opportunities.
    • The market is segmented on the basis of product and end-user industry
    • The key target audience for the market has been determined in the report.
    • The revenue generated by the prominent industry players has been analyzed in the report.

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    Topical Analgesic Market Report Highlights:

    • Comprehensive pricing analysis on the basis of product, application, and regional segments
    • The detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the Topical Analgesic market
    • Deep insights about regulatory and investment scenarios of the Topical Analgesic market
    • Analysis of market effect factors and their impact on the forecast and outlook of the Topical Analgesic market
    • A roadmap of growth opportunities available in the Topical Analgesic market with the identification of key factors
    • The exhaustive analysis of various trends of the Topical Analgesic market to help identify market developments

    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.

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    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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