Topical Pain Relief Market Analysis 2021, Size, Top Players with Share, Total Revenues, Product Scope, Business Development and Opportunities till 2030

In a recently published report, Topical Pain Relief Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Topical Pain Relief Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Topical Pain Relief Market valued approximately USD 7.48 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.42% over the forecast period 2018-2025. The Topical Pain Relief Market is continuously growing in the global scenario at significant pace. Pain treatment involves usage of common analgesics or painkillers to reduce and treat body pain. Whenever, these analgesics are applied directly to the skin they are known as topical pain relief medications. These include topical administration of drugs such as nonsteroidal anti-inflammatory drugs, anesthetics, capsaicin, tricyclic antidepressants, ketamine, clonidine, opioids, and cannabinoids. Topical pain relief medications exert peripheral effects near the site of application and minimize the pain. Rise in cases of arthritis & other bone-related conditions, rising geriatric population, and increase in demand for topical pain relief by sports players are the substantial driving factors of the market during the forecast period.

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Moreover, emergence of online pharmacy and increasing demand from developing economies are the factor that likely to creating lucrative opportunity in the near future. In addition, Topical Pain relief starts medication more quickly which is also a major factor that impelling the market growth across the world. However, side effects caused by Topical Pain relief such as skin irritation, unpleasant odor and allergic reactions due to usage of pain relivers is one of the major factor that limiting the market growth of Topical Pain Relief during the forecast period.

The regional analysis of Global Topical Pain Relief Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to high awareness about the side effects caused by pain relivers, presence of large number of vendors of Topical Pain relief and increasing number of people suffering from schizophrenia in the region. Europe is estimated to grow at stable growth rate in the global Topical Pain Relief market over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to growing concern towards health among people and rising prevalence chronic diseases such as cancer in the region.

The major market player included in this report are:
• Johnson & Johnson
• Novartis AG
• GlaxoSmithKline Plc.
• Pfizer Inc.
• Reckitt Benckiser Group Plc
• Sanofi S.A.
• Tropical Bio Medics
• AdvaCare Pharma
• Sun Pharmaceutical Industries Ltd.
• Nestle S.A.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Therapeutic Class:

*Non-Opioids
*Opioids

By Type:

*Prescription Pain Relief
*Over-the-Counter (OTC) Pain Relief

By Formulation:

*Cream
*Gel
*Spray
*Patch
*Others

By Distribution Channel:

*Pharmacies & Drug Stores
*E-Commerce
*Retail & Grocery Stores

By Regions:
*North America
o U.S.
o Canada
*Europe
o UK
o Germany
*Asia Pacific
o China
o India
o Japan
*Latin America
o Brazil
o Mexico
*Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Topical Pain Relief Market in Market Study:

*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Venture capitalists
*Value-Added Resellers (VARs)
*Third-party knowledge providers
*Investment bankers
*Investors

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