Topical Pain Management Therapeutics in Sports Medicine Market – Top Key Players and Industry Outlook
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 Forecast, 2019–2027’. According to the report, the global topical pain management therapeutics in sports medicine market was valued at US$ 1,623.2 Mn in 2018 and is projected to expand at a CAGR of 8.8% from 2019 to 2027.
- The medicine or drugs which are applied locally on the area which is being treated is called as topical drugs. ‘Topikos’ in Greek means ‘at a place’. Many creams and ointments which are applied to skin are often called a topical drugs. Topical pain management therapeutics are specialty products that are used to relieve acute musculoskeletal pain or general sprains or strains.
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- 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.
- North America dominated the global topical pain management therapeutics in sports medicine market in 2018 and the trend is anticipated to continue during the forecast period. Innovative product launches such as fast relief gels and patches, increase in implementation of guidelines implemented by various health care organizations promoting the use of topical medications over oral medications for pain management in the U.S. are expected to drive the market in North America.
- Asia Pacific is likely to be a highly lucrative market for topical pain management therapeutics and it is expected to expand at a high CAGR during the forecast period
Increase in Incidence of Musculoskeletal Acute Sports Injuries to Drive Topical Pain Management Therapeutics in Sports Medicine Market
- 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 years and above participating in sports in North and Latin America increased by an estimated 4 million, from 209 million in 2014 to 213 million in 2015
- Rise in participation of general population in sports activities and growing competitiveness in sports such as football, basketball, and rugby at regional, national, and international levels are leading to increase in number of musculoskeletal acute sports injuries globally
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Gels Segment to Dominate Topical Pain Management Therapeutics in Sports Medicine Market
- Based on product, global topical pain management therapeutics in sports medicine market is segmented into gels, creams, sprays and patches. The patches segment is further classified into drugs in adhesives, matrix, reservoirs and others.
- The gels segment held the maximum share of global market in 2018. The segment is anticipated to dominate the global market through 2025 due to rising demand for pain relief products that are easier to massage on the injured area, without aggravating the injury
Analgesics Segment to be Highly Lucrative Segment
- By therapeutic class, global topical pain management therapeutics 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 classified into fentanyl, buprenorphine and others. While the non-opioids sub segment is further classified into lidocaine, diclofenac, capsaicin, methyl salicylate and others.
- The analgesics held the highest share of the global market and is expected to dominate the global market through 2027 due to aggressive promotional strategies used by the emerging players for their topical analgesics and brand endorsements in international sports events.
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North America to Dominate Global Topical Pain Management Therapeutics in Sports Medicine Market
- In terms of region, the global topical pain management therapeutics in sports medicine market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global topical pain management therapeutics in sports medicine market in 2018, followed by Europe.
- North America accounted for major share of the global topical pain management therapeutics in sports medicine market in 2018, owing to rise in number of sports injuries in U.S, approval of novel products from US FDA, increase in sports participation, and developed healthcare infrastructure
- The topical pain management therapeutics in sports medicine market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to expand owing to owing to proactive initiatives by governments encouraging adolescents’ participation in sports activities is fueling market growth.
The global topical pain management therapeutics in sports medicine market is fragmented in terms of number of players. Key players in the global market include 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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