Topical Pain Management Therapeutics in Sports Medicine Market 2022
Transparency Market Research (TMR) has published a new report titled “Topical Pain Management Therapeutics in Sports Medicine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019 – 2027” . According to the report, the global market for topical pain management therapies in sports medicine market was valued at US$ 1,623.2 million in 2018 and is expected to grow at a CAGR of 8.8% from 2019 to 2027.
The medication(s) applied topically to the treated area are called topical medications. ‘Topikos’ in Greek means ‘at a place’. Many creams and ointments applied to the skin are often called topical medications. Topical pain management therapies are specialized products used to relieve acute musculoskeletal pain or general sprains or strains.
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Therapeutics involve various classes of drugs such as analgesics, anesthetics, and skeletal muscle relaxants. Topical pain relievers are becoming increasingly popular in the sports category due to their site-specific action, cost-effectiveness, instant pain relief, and availability in the OTC segment.
North America dominated the global market for topical pain management therapies in the sports medicine market in 2018 and the trend is expected to continue during the forecast period. Innovative product launches such as quick-relief gels and patches, increased implementation of guidelines implemented by various healthcare organizations promoting the use of topical medications over oral medications for pain management in the United States is expected to drive the market in North America.
Asia-Pacific is likely to be a highly lucrative market for topical pain management therapies and it is expected to grow at a high CAGR during the forecast period
Rising Incidence of Acute Musculoskeletal Sports Injuries to Drive Topical Pain Management Therapies in Sports Medicine Market
The high incidence of musculoskeletal injuries is likely to drive the market. According to the National Health Statistics Reports (NHSR), the number of people aged 6 and over participating in sports in North America and Latin America increased by approximately 4 million, from 209 million in 2014 to 213 million in 2015 .
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The increase in the participation of the general population in sports activities and the growing competitiveness in sports such as football, basketball and rugby at regional, national and international levels lead to an increase in the number of acute musculoskeletal sports injuries. skeletons in the world
Gel Segment to Dominate Topical Pain Management Therapies in Sports Medicine Market
On the basis of product, the global market for topical pain management therapies in sports medicine market is segmented into gels, creams, sprays and patches. The Patches segment is further classified into drugs in adhesives, matrices, reservoirs and others.
The gels segment held the maximum share of the global market in 2018. The segment is expected to dominate the global market till 2025 owing to the growing demand for pain relief products that are easier to massage onto the injured area, without aggravating the injury.
The painkillers segment will be a very lucrative segment
By therapeutic class, the global market for topical pain management therapies in sports medicine market is segmented into analgesics, anesthetics and skeletal muscle relaxants. The analgesics segment is classified into opioids and non-opioids. The opioids sub-segment is further categorized into fentanyl, buprenorphine, and others. While the non-opioid sub-segment is further categorized into lidocaine, diclofenac, capsaicin, methyl salicylate, and others.
Analgesics held the highest share in the global market and is expected to dominate the global market till 2027 due to the aggressive promotional strategies used by emerging players for their topical analgesics and brand endorsements in international sporting events.
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North America to Dominate the Global Market for Topical Pain Management Therapies in the Sports Medicine Market
In terms of region, the global market for topical pain management therapies in sports medicine has been segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America led the global market for topical pain management therapies in the sports medicine market in 2018, followed by Europe.
North America accounted for a major share of the global market for topical pain management therapies in the sports medicine market in 2018, owing to the increase in the number of sports injuries in the United States, approval new products by the US FDA, increased sports participation and the development of healthcare infrastructure.
Topical pain management therapy in Asia Pacific sports medicine market is expected to grow at a high CAGR from 2019 to 2027. This can be attributed to the expansion owing to proactive government initiatives encouraging the participation of teenagers in sports activities is fueling the growth of the market.
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The global market for topical pain management therapies in sports medicine is fragmented in terms of number of players. The major players in the global market are Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Hisamitsu Pharmaceutical Co., Inc., Mayne Pharma Group Limited, Chattem, Inc., GlaxoSmithKline plc, Endo Pharmaceuticals Inc., Beiersdorf AG, Johnson & Johnson Services, Inc. and Topical BioMedics, Inc.
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