The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Topical Pain Relief Market was valued at USD 8.82 billion in 2020 and is likely to reach USD 12.61 billion by 2026 at a CAGR of over 6.1% during the forecast period
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By therapeutic class, the topical pain relief market has been bifurcated into non-opioids and opioids.
- Under these, the non-opioids segment held the largest market share in 2020 and is projected to register a healthy CAGR during the review period.
- This is mainly attributed to its high preference over opioid drugs for treating mild to moderate pain.
- Also, it has relatively fewer side effects in comparison to opioids, further boosts the segment growth.Regional Trends
By region, the North America market garnered the largest market share in 2020 and is likely to grow at a steady CAGR during the assessment period.
- This is mainly ascribed to increasing adoption of over-the-counter pain relief products and early approval of topical pain relief medications in this region.
- Also, the presence of major product manufacturers in the region further boosts the regional market growth.
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The Topical Pain Relief Market analysis report discusses the following heads in great detail:
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