Upsurge in prevalence of arthritis, rise in demand for topical pain relief products from sportspeople, and fewer side effects as compared to oral medicines drive the growth in the U.S. topical pain relief market
PORTLAND, Oregon, July 3, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Topical Pain Relief Market by Therapeutic Class (Non-Opioids and Opioids), Type (Prescription Pain Relief and Over-the-Counter Pain Relief), Formulation (Cream, Gel, Spray, Patch, and Others), and Distribution Channel (Pharmacies & Drug Stores, E-commerce, and Retail & Grocery Stores): Opportunity Analysis and Industry Forecast, 2018–2025." According to the report, the U.S. topical pain relief market garnered $2.32 billion in 2017 and is expected to reach $3.73 billion by 2025, growing at a CAGR of 6.0% from 2018 to 2025.
Upsurge in prevalence of arthritis, rise in demand for topical pain relief products from sportspeople, and fewer side effects as compared to oral medicines drive the growth in the U.S. topical pain relief market. However, side effects such as skin irritation and unpleasant odor of the products restrain the market growth. On the other hand, emergence of online pharmacy present new opportunities in the industry.
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Non-opioids segment to be lucrative by 2025
Based on therapeutic class, the non-opioids segment accounted for nearly three-fourths of the total share in 2017 and is expected to contribute its lion's share by 2025. Moreover, this segment is expected to register the highest CAGR of 6.2% during the forecast period, 2018–2025. It is a lucrative segment due to preference over the opioid drugs to treat mild to moderate pain and lesser side effects in comparison to opioids. The research also analyzes the opioids segment.
Cream segment to maintain its dominance during the forecast period
On the basis of formulation, the cream segment held the major share in 2017, accounting for nearly two-fifths of the total market share, and is expected to maintain its dominance during the forecast period. This is attributed to help in offering long-lasting comfort and quick pain relief without irritating or burning skin along with lack of risk of side effects and prevention of intake of oral narcotics. However, the patch segment would grow at the highest CAGR of 7.6% from 2018 to 2025, owing to uniform plasma drug concentrations and controlled absorption provided by patches along with rise in preference to relieve minor to severe pain.
Pharmacies & drug stores segment to continue its leadership status by 2025
Based on distribution channels, the pharmacies & drug stores segment dominated the market share, with nearly fourth-fifths of the total revenue in 2017, and is expected to continue its leadership status by 2025. This is due to ease in availability of a diverse set of drugs and services at different outlets. On the other hand, the e-commerce segment would register the highest growth rate, with a CAGR of 8.7% from 2018 to 2025, owing to significant rise in digital literacy among the population, fewer expenses, enhanced convenience, and ease in access to patient reviews.
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Leading market players
Leading market players analyzed in the market include Johnson & Johnson, GlaxoSmithKline Plc., Novartis AG, Reckitt Benckiser Group Plc., Pfizer Inc., Topical BioMedics, Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd., AdvaCare Pharma, and Nestle S.A.
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SOURCE Allied Market Research