Topical Pain Relief Market Share

The topical pain relief market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of North America industry is set to hold largest revenue share of 78% by 2036 Growing incidences of arthritis in the region, increasing geriatric population, rising incidences of sport-related injuries, rising consumer awareness for topical pain relief products and growing utilization of topical pain relievers are some of the factors driving the growth of the market in North America. Additionally, the North America topical pain relief market, which held a share of 39.68% in the year 2019, is expected to expand by observing the growth rate of 1.29x over the forecast period, which in turn is estimated to have a positive effect on the demand for topical pain relievers in the long run.

Further, U.K., Germany, Italy and France are some of the prominent countries that are driving the growth of the Europe topical pain relief market, where U.K. accounted for the largest market share of 20.87% in the year 2019. Continuous advancements pertaining to the increased adoption of transdermal patches for chronic disorders, coupled with the increasing R&D investments by few major players are among the major factors expected to propel the growth of the topical pain relief market in Europe.