Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) — The “U.S. External Analgesics Market Size, Share & Trends Analysis Report by Product (Hot/Cold Products, Kinesiology Tape, TENS Devices, and Infrared Therapy Products), Distribution Channel, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. external analgesics market size is anticipated to reach USD 6.66 billion by 2030 and is projected to grow at the CAGR of 13.1% from 2024 to 2030. The increasing incidence of chronic illness, rising prevalence of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative disorders, are the key factors driving the market growth in the U.S.
The prevalence of musculoskeletal disorders, such as arthritis, back pain, and sports injuries, have become more common in the U.S. population. For instance, in June 2023, data published by CDC highlights about 1 in 5 adults in the U.S. are affected by some form of arthritis, totaling around 53.2 million individuals. Osteoarthritis (OA) stands out as the most dominant among various types of arthritis. These conditions often lead to chronic pain, prompting individuals to seek effective pain relief solutions. Consequently, the demand for other external analgesics such as pain-relief products, such as creams, gels, patches, and sprays, and infra-red therapy lights has increased.
Another driving factor for the external analgesic market is the growing consumer preference for non-pharmacological pain relief methods. Many individuals are concerned about potential side effects and drug interactions associated with oral medications, leading them to choose for topical pain relievers or external analgesics as a safer alternative. These products can provide targeted relief without the need for systemic absorption, which appeals to health-conscious consumers.
Technological advancements have significantly influenced the landscape of the U.S. market, bringing about new and innovative solutions for pain management. These advancements have revolutionized the way external analgesics are developed, formulated, and administered, leading to improved effectiveness, convenience, and patient outcomes. For instance, in June 2023, Lumaflex a healthech manufacturer in the U.S. announced the launch of its ‘Lumaflex Body Pro’, a red light therapy device, which has received FDA Class II certification and started distribution from August 2023.The portable, waterproof, and flexible device provides muscle recovery, pain relief, wellness and performance enhancement and company further aimed at distribution across the country.
Some of the key players in the market are Baxter; Boston Scientific Corporation; Enovis; Medtronic; ICU Medical Inc.; Abbott; Stryker; Nevro Corp.; OMRON Healthcare, Inc. Key market participants as well as emerging players are involved in undertaking strategic initiatives such as partnerships, collaborations, research studies, and product launches to provide novel products and therapies in the market. For instance, in March 2022, Omron healthcare started conducting research studies to evaluate the positive effectiveness of its Focus TENS (Transcutaneous Electrical Nerve Stimulation) therapy device (PM-710), used in in reducing pain for individuals experiencing mild to moderate knee “wear and tear.”
U.S. External Analgesics Market Report Highlights
- The hot/cold products segment led the market with the largest revenue share of 58.3% in 2023 and is expected to grow at the fastest CAGR over the forecast period. The growth is attributable to the adoption of hot and cold therapies, as there has been increased in the long-term treatment of chronic pain diseases, such as arthritis, lower back pain, and others. The hot/cold product segment also has the advantage of being non-invasive and easy to use which is expect to drive the market growth
- Based on distribution channel, the retail/brick-and-mortar segment led the market with the largest revenue share of 71.0% in 2023. This is attributable to the edge retail stores have over an online platforms, as retail stores can adapt to local market trends and customer preferences more quicker than online retailers
Companies Featured
- Baxter
- Boston Scientific Corporation
- Enovis
- Medtronic
- ICU Medical Inc.
- Abbott
- Stryker Corporation
- Nevro Corp.
- OMRON Healthcare, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $2.78 Billion |
| Forecasted Market Value (USD) by 2030 | $6.66 Billion |
| Compound Annual Growth Rate | 13.1% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. External Analgesics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook.
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. U.S. External Analgesics Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis
Chapter 4. U.S. External Analgesics Market: Product Type Estimates & Trend Analysis
4.1. Product Type Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. External Analgesics Market Product Type Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Hot/Cold Products
4.4.1.1. Hot/Cold products market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.2. Disposable hot/cold products market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.3. Non-Disposable hot/hold products market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2. Kinesiology Tape
4.4.3. Heating Pads
4.4.4. TENS Devices
4.4.5. Red Light Therapy/Infrared Therapy
Chapter 5. U.S. External Analgesics Market: Distribution Channel Estimates & Trend Analysis
5.1. Distribution Channel Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. External Analgesics Market Distribution Channel Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Retail/ Brick & Mortar
5.4.2. E-Commerce
5.4.3. Others
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company/Competition Categorization
6.3. Vendor Landscape
6.3.1. Company Market Position Analysis, 2023
For more information about this report visit https://www.researchandmarkets.com/r/jdpc3i
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- U.S. External Analgesics Market
