As the global burden of chronic pain disorders continues to rise, the demand for effective and easily accessible solutions such as topical pain relief is gaining momentum. According to recent market forecasts, the global topical pain relief market is expected to grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2034.
The market value is projected to increase from USD 11,061.3 million in 2024 to a substantial USD 18,994.4 million by 2034. In 2023, the market was valued at USD 10,513.1 million, and it is anticipated to exhibit a year-over-year (Y-o-Y) growth of 5.2% in 2024.
Topical pain relief products, including creams, gels, patches, and sprays, provide an essential alternative to oral medications, offering localized relief with minimal side effects. These products are especially effective for managing chronic pain conditions such as arthritis, muscle strains, and nerve pain, contributing to their growing adoption worldwide.
Key Takeaways:
- Market Expansion: The global topical pain relief market is set to grow from $11,061.3 million in 2024 to $18,994.4 million by 2034, driven by a robust CAGR of 5.6%.
- Current Market Value: The market was valued at $10,513.1 million at the end of 2023 and is forecasted to show a year-over-year growth of 5.2% in 2024.
- Growth Drivers: The surge in demand is attributed to the rising prevalence of chronic pain disorders, increased awareness of topical pain relief options, and advancements in product formulations.
This anticipated growth underscores the critical need for effective and accessible pain management solutions, offering a promising outlook for stakeholders in the topical pain relief industry.
Competitive Landscape in Topical Pain Relief Market
Leading topical pain relief product manufacturers prioritize product innovation and launches to meet high demand and broaden their global consumer base through unique formulations & delivery methods. Manufacturers in the pharmaceutical sector also apply for authorization from regulatory organizations to stay relevant in the market.
For instance
- In January 2024, Sun Pharmaceutical, headquartered in Mumbai, signed a definitive merger agreement to acquire all outstanding ordinary shares of Taro Pharmaceutical.
- In January 2023, Procter & Gamble (P&G) India, headquartered in India, launched the latest addition to the House of Vicks in India, the new Vicks NATURA.
- In June 2022, Troy Healthcare LLC, a United States-based company, announced that the Stopain Clinical topical pain relief will now be available in Canada.
- In March 2022, Abbott, headquartered in the United States, launched Brufen Power spray, a solution designed to eliminate physical pain.
Key Companies Profiled
- Johnson & Johnson
- Pfizer Inc.
- Novartis AG
- Glaxosmithkline Plc (GSK)
- Sanofi
- Bayer AG
- Abbott Laboratories
- Reckitt Benckiser Group Plc.
- Teva Pharmaceutical Industries Ltd.
- Thermo Fisher Scientific, Inc.
- Haleon Group of Companies
- Procter & Gamble
- Sun Pharmaceutical Industries Ltd.
- Amneal Pharmaceuticals LLC.
- Cipla Limited
- Purdue Pharmaceuticals L.P.
- Hisamitsu Pharmaceutical Co., Inc.
- Endo Pharmaceuticals, Inc.
- Mallinckrodt Pharmaceuticals
- Pure Source LLC
- Teikoku Pharma
- Himalaya Wellness Company
- Troy Healthcare LLC
- Advacare Pharma
- Exzell Pharma
Topical Pain Relief Industry Segmentation by Category
By Drug Class:
- Opioids
- Hydrocodone
- Oxycodone
- Morphine
- Fentanyl
- Others
- Non-opioids
- Ibuprofen
- Naproxen
- Diclofenac
- Acetaminophen
- Lidocaine
- Capsaicin
- Corticosteroids
- Prednisone
- Dexamethasone
- Others
By Formulation:
- Creams and Ointments
- Gels
- Liquid/Oil
- Patch
- Sprays
- Others
By Packaging Type:
- Tubes
- Creams and Ointments
- Gels
- Containers & Jars
- Creams and Ointments
- Gels
- Aerosol Containers
- Sprays
- Dermal Patches
- Patches
- Roll On Bottles
- Liquid/Oil
By Distribution Channel:
- Hospitals
- Clinics
- Retail Pharmacy Stores
- Drug Stores
- Online Pharmacy Stores
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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