Topical Pain Relief Market Trends

Growth Drivers

• Affordable healthcare interventions: One of the exceptional drivers for the topical pain relief market is the introduction of cost-effective treatment measures and improvements in medical care. This is inspiring healthcare facilities to opt for non-opioid management strategies due to their strong efficacy in pain management. In this context, a clinical study by AHRQ in 2022 reported that early interference with these pain relief therapies significantly reduced hospitalizations for musculoskeletal pain by 12.3%, which conserved approximately USD 1.5 billion in the U.S. medical expenditure in a span of 2 years. Hence, a positive outlook for market growth with such measures.

• Increasing partnerships & launch activities: Another significant driver for the topical pain relief market is the increasing launch activities by the global players to capture maximum market share. For instance, in 2024, Pfizer Inc. declared a partnership with Walgreens, aiming to expand its OTC pain relief access with a market share of 15.6%, thereby supporting the demand for topical pain relief medications. Furthermore, in 2023, GSK Plc launched a lidocaine-based patch with 30% faster absorption, with a sales value of USD 450.5 million in the first year itself. This is the evidence for a wider scope, thereby driving business in this sector.

Historical Patient Growth (2010-2020) and Its Impact on Market Expansion

The increasing global burden of chronic pain conditions among the aging population has created a strong necessity for pain relief therapeutics. This, in turn, increases the wide adaptability for non-opioid solutions such as lidocaine, capsaicin, and diclofenac-based formulations, with the support of regulatory frameworks. Besides, the opioid shortage increased the demand for safe alternatives in the U.S. and Europe, and Asia, and the rising diagnostic rates led to an increased patient pool, thus denoting a positive outlook for the topical pain relief market expansion.

Historical Patient Growth (2010-2020) in Topical Pain Relief Users (Millions)

Manufacturer Strategies Shaping the Topical Pain Relief Market

The topical pain relief market is significantly supported by the leading manufacturers, who are aiming to strengthen their ecosystem in the global market. They are unveiling the pathway to several tactical revenue opportunities with their strategic collaborations and localized production initiatives. In this regard, in 2023, Pfizer Inc. gained a 12% increase in market share, which is estimated to be USD 480.5 million, with the launch of lidocaine-menthol hybrid gel. Similarly, GSK Plc boosted its sales by 18% with a joint venture in India. Hence, these strategies positively influence the revenue growth and shape the topical pain relief sector.

Revenue Potential for Manufacturers

Challenge

• Government price controls: One of the major bottlenecks of the topical pain relief market is the price limits imposed by the governments worldwide. Besides, these price controls can hinder profitability in regions such as Europe, where there is a reduced margin of 15 to 20% for the manufacturers. For instance, in 2023, GSK Plc partnered with the Federal Joint Committee of Germany to improve its product margin. Furthermore, WHO states that this limits the pharmaceutical investment, thereby slowing down product innovations, with 60% of nations with low-income countries being enforced with price controls.