Topical Pain Relief Market Growing at a CAGR of 6.25% During Forecast Period 2020-2025

January 6, 2021
Blessy

Topical Pain Relief Market size is forecast to reach $11.78 billion by 2025, growing at a CAGR of 6.25% during the forecast period 2020-2025. Topical Pain Relief is designed to relieve pain that is sprayed on, rubbed in, or applied as patches onto the skin over painful muscles or joints. An increase in the prevalence of arthritis and other bone-related conditions are the major factors driving the growth of the market. Rising geriatric population and the increase in the adoption of topical pain relief by sports players is set to further enhance the overall market demand for topical pain relief during the forecast period 2020-2025.

Key Takeaways

  • North America dominated the Topical Pain Relief Market in 2019 owing to the rising geriatric population and increasing incidences of sports injury. The Topical Pain Relief Market scope for different regions will be provided in the final report.
  • Increase in demand for topical pain relief by sports players and rise in adoption of topical pain relief is likely to aid in the market growth of the topical pain relief market.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Topical Pain Relief Market report.
  • Topical Pain Relief Medications can irritate skin and odor or unpleasant smell of topical pain relief is set to create hurdles for the Topical Pain Relief Market.

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Geography – Segment Analysis

APAC acquired the major market share of 42.2% of the timing belt market in 2019 and it is also estimated to witness the highest growth rate during 2020-2025, owing to growing demand of automobiles in the South East Asian region along with India and China.

Drivers – Topical Pain Relief Market

  • Increase in prevalence of arthritis and other bone-related conditions
  • Increase in geriatric population and the increase in the adoption of topical pain relief by sports players

Topical Pain Relief Industry Outlook

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the topical pain relief market. In 2019, Topical Pain Relief Market share is consolidated by the top ten players present in the market. Topical Pain Relief, top 10 companies are Advacare Pharma, Glaxosmithkline Plc, Johnson Johnson, Nestl S A, Pfizer Inc., Reckitt Benckiser Group Plc, Sanofi, Sun Pharmaceutical Industry Ltd and Topical Biomedics Inc among others.

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