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The global topical pain relief industry is being driven by the rising prevalence of arthritis and other bone-related diseases, as well as diabetic neuropathy, which causes pain. The increasing awareness among consumers regarding the harmful effects of oral pain killers is contributing to the market growth. There has been a rise in demand for topical pain relief medications, which have less side effects as compared to oral pain relievers. Further, the increasing geriatric population and the growing adoption of topical pain relievers among athletes are also driving the market growth. Additionally, a rise in the number of patients undergoing long-term therapy for diseases like skin cancer is expected to further propel the market forward in the forecast period.
GlaxoSmithKline Plc. (NYSE: GSK) and Sanofi SA (NASDAQ: SNY) are some of the leading players in the industry. The increasing R&D activities by the manufacturers in emerging markets are further propelling the industry growth. For instance, Troikaa Pharmaceuticals Ltd., based in Ahmedabad, was granted a patent by the United States on 20th May 2020, for its innovative non-aqueous diclofenac topical solution, which is marketed as Dynapar QPS. Dynapar QPS is the only topical pain reliever approved by DCGI (Drugs Controller General of India) for osteoarthritis pain based on positive clinical trial outcomes.
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The major players in the global topical pain relief market are Sanofi SA, Novartis AG, GlaxoSmithKline Plc., Reckitt Benckiser Group Plc., and Johnson & Johnson Consumer Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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