Market Trends of Global Topical Analgesic Industry
This section covers the major market trends shaping the Topical Analgesic Market according to our research experts:
Non-opioids are Expected to Hold Significant Market Share in the Drug Type
Topical non-opioids are found to be more effective in treating acute pain from strains, sprains, contusions, or overuse injuries in superficial locations.
As per, the Center for Diseases Control and Prevention in May 2020, around 43% of the population suffers from pain on some days and around 20% of the population suffers from pain every day or on most days. There are numerous risk factors for chronic pain. Non-opioid analgesics are preferable because it does not involve the risk of addiction as with an opioid drug, therefore, helping in managing the pain for a longer duration and are considered a valuable driver for the Non-opioid market.
Moreover, according to the article titled "Epidemiology and classification of diabetic neuropathy" updated in January 2021, diabetic polyneuropathy is the most common neuropathy in developed countries. It also reported that approximately 50% of patients with diabetes will eventually develop neuropathy. Thus, rising neuropathic pain cases and the widespread availability of non-opioid pain topical analgesics are expected to drive the segment growth.
In February 2022, NEXGEL, Inc. a provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, reported the launch of its MEDAGEL Bug Bite Relief Patch. These cooling patches, made in the United States using NEXGEL's soothing hydrogel technology, provide instant relief to irritated skin caused by insect bites.
Furthermore, the increasing burden of diseases, along with the safety profile and efficacy associated with non-opioid topical analgesics are expected to drive the growth of the Non-opioids market segment during the forecast period.
The Market is Dominated by North America and is Expected to do Same in the Forecasted Period
North American topical analgesics are estimated to dominate the industry, owing to well-established healthcare facilities, the rising geriatric population, and the growing prevalence of chronic pain.
As per the Centers for Disease Control and Prevention (CDC) statistics update of 2020, while there are estimated to be more than 100 types of arthritis, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million United States adults. Also, women are more likely to develop OA than men, especially after age 50. Thus, an increase in the number of osteoarthritis among women in the country will also increase the demand for topical analgesics, therefore driving the growth of the market.
Moreover, sports like basketball and football were the major injury-causing factors in the United States. As per the National Safety Council’s data updated in 2020, due to basketball and football, there were 214,847 and 122,181 injuries were reported in the United States. Thus, high sports-related injuries are expected to drive the demand for topical analgesics.
Associations such as the Arthritis Foundation and Osteoarthritis Centers of America are continuously making efforts to eliminate the causes of OA in the population by increasing awareness. Moreover, easy access to quality healthcare and favorable reimbursement policies are projected to promote the growth of the market in the region. For instance, knee replacement surgery is covered under Medicare Part A or B depending on the service and the attending specialist. This factor is likely to boost the rate of treatment among Americans.
Additionally, in February 2020, GlaxoSmithKline announced that the United States Food and Drug Administration (FDA) had approved Voltaren Arthritis Pain Gel as an over-the-counter (OTC) topical analgesic for the temporary relief of arthritis pain in the hand, wrist, elbow, foot, ankle, or knee in adults (18 years and older).
Therefore, owing to the above-mentioned factors, the growth of the topical analgesics market in North America is expected to drive over the forecast period.
