The pain management therapeutics market witnesses an exponential presence of generic medicines. Given the scenario, Transparency Market Research (TMR) predicts the entry of several small and medium scale generic drug producers, making the global topical pain management therapeutics in sports medicine market highly saturated. Considering this upturn of new players, the market can expect a surge in novel therapeutics in the sports medicine sector offered at an affordable price range.
Nonetheless, established companies are likely to remain at the crux of the pain management therapeutics in sports medicine market on the back of their brand identity. Besides this, these companies are likely to leverage product launches, technological innovations, and strategic collaboration to tip scales in their favor. Some of the prominent companies operating in the global topical pain management therapeutics 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.
TMR predicts the global topical pain management therapeutics in sports medicine market to reach US$2.97 bn by the end of 2025, as against its valuation in 2016, which stood at US$1.4 bn. If the forecasts by TMR hold true, the market will rise at a CAGR of 8.9% between 2017 and 2018. Based on therapeutic class, the analgesics segment is likely to exhibit strong growth boosted by the rising demand for therapeutic treatment among patients. Regionally, North America is projected by TMR to remain at the global market’s fore through the course of the forecast period. The region has recorded a spike in sports participation among general factor, which is identified as a chief driver of the topical pain management therapeutics in sports medicine market in North America.