World News: 15:15 GMT Thursday 19th September 2019. [Allied Market Research via Globe Newswire via SPi World News]
Portland, OR, Sept. 19, 2019 (GLOBE NEWSWIRE) -- The was accounted for $2.32 billion in 2017 and is projected to reach $3.73 billion by 2025, registering a CAGR of 6.0% from 2018 to 2025. The research offers a detailed analysis of major segments, changing market trends, top pocket investors, drivers & opportunities, and competitive scenarios.
Increase in the rate of geriatric population, rise in prevalence of arthritis, and lesser side effects caused by topical pain relief products as compared to oral medicines are the factors driving the growth of the market. On the other hand, high demand for topical pain relief products by sportsperson supplements the market's growth. However, topical pain relief sometimes causes skin irritation and has unpleasant odor, which restrains the market growth up to a certain extent. Moreover, the development of online pharmacy is estimated to provide lucrative opportunities in the U.S. topical pain relief market.
Based on formulation, the cream segment held the largest share in 2017, contributing nearly two-fifths of the total share. The segment is expected to continue its lead position throughout the estimated period. However, the patch segment would grow at the fastest CAGR of 7.6% during the forecast period.
Based on type, the over-the-counter pain relief segment held the largest major market share in 2017, accounting for more than half of the total market share. This region would continue its leadership position throughout the forecast period. Moreover, the segment would grow at the highest CAGR of 6.6% during the forecast period.
Based on the distribution channel, the pharmacies & drug stores segment held the largest share in 2017, contributing nearly four-fifths of the total share. The segment is expected to continue its position throughout the estimated period. However, the e-commerce segment would grow at the fastest CAGR of 8.7% during the forecast period.
The key players in the U.S. topical pain relief market include Nestle S.A., Johnson & Johnson, Novartis AG, Sun Pharmaceutical Industries Ltd., GlaxoSmithKline Plc., Pfizer Inc., Reckitt Benckiser Group Plc., Sanofi S.A., Topical BioMedics, Inc and AdvaCare Pharma.
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Globe Newswire: 15:15 GMT Thursday 19th September 2019
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