Topical Pain Management Therapeutics in Sports Medicine Market to touch US$ 2.97 Bn by 2025
Global Topical Pain Management Therapeutics in Sports Medicine Market: Snapshot
Topical pain management therapeutics are specialty products that are used to relieve acute musculoskeletal pain or general sprains or strains. The therapeutics involve various drug classes such as analgesics, anesthetics, and skeletal muscle relaxants. Topical pain relievers are becoming increasingly popular in sports category owing to their site-specific action, cost-effectiveness, instant pain relief, and availability in the OTC segment. These are available in the form of gels, sprays, creams, and patches. The global market for topical pain management therapeutics in sports medicine was worth US$ 1,400.0 Mn in 2016, with analgesics therapeutics class dominating the overall global market.
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The global topical pain management therapeutics in sports medicine market is witnessing a significant growth and is expected to expand at substantial CAGR during the forecast period of 2017–2025. Rise in demand for cost-effective and instant pain relief therapeutics by national and international sports players, introduction of novel pipeline product, emergence of online platform for the topical therapeutics, improved distribution of the pain relief therapeutics in developing countries etc. are some of the factors driving the growth of global topical pain management therapeutics in sports medicine market.
Gel Segment Emerges Dominant among Product Type Holding Largest Market Share
The global topical pain management therapeutics in sports medicine market is segmented on the basis of product, therapeutic class and regions. Based on the product type, the gel segment accounted for over 40% share in terms of value of the global topical pain management therapeutics in sports medicine market, in 2016. The segment is anticipated to dominate the global topical pain management therapeutics in sports medicine market throughout the forecast period due rise in number of local players offering cost effective gel formulation for pain management. Based on the therapeutic class, the global topical pain management therapeutics in sports medicine market is segmented into analgesics, anesthetics and skeletal muscle relaxants. Analgesic segment is expected to hold the highest share of the market during forecast period of 2017–2025 due to shift of patient’s preference toward topical therapeutic treatment for acute injuries due to the inconvenience associated with oral drugs.
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Lack of awareness towards pain management in many developing countries, high cost of medicine, unavailability of specialty products in developing countries, etc. are few of the factors restricting the growth of the global topical pain management therapeutics in sports medicine market. Furthermore, rise in patient preference for pain management devices in treatment of sports injuries is affecting the growth of the topical pain management therapeutics in sports medicine market in many regions.
North America and Europe Generates Largest Revenue in a Global Sphere
Geographically, North America and Europe are the regions where largest revenue is generated for the global market. The U.S, U.K and Germany show high adoption rates for topical pain management therapeutics as compared to rest of the world due to rise in number of sports injuries in U.S, approval of novel products from US FDA, increase in sports participation in Europe developed healthcare infrastructure, high prevalence of the disease in the region etc. Topical pain management therapeutics in sports medicine market in the Asia Pacific is set to expand owing to proactive initiatives by governments encouraging adolescents’ participation in sports activities. Developed countries such as Australia and Japan are favorable for the growth of the market. Rise in sports participation from the region, government initiatives from countries like China and India etc will further drive the market in Asia Pacific.
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Some of the key players in the global topical pain management therapeutics in sports medicine market include Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Hisamitsu Pharmaceutical Co., Inc., Mayne Pharma Group Limited, Sanofi (Chattem, Inc.), GlaxoSmithKline plc., Endo Pharmaceuticals Inc., Beiersdorf AG, Johnson & Johnson Services, Topical BioMedics, Inc. High efficiency and efficacy of therapeutics with minimum side effects will have a major impact on global topical pain management therapeutics in sports medicine market.
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