Neuropathy Pain Treatment Market Size, Share, Growth, and Industry Analysis by Type (Calcium Channel Alpha 2-delta Ligands, Serotonin-norepinephrine Reuptake Inhibitors, Other Types), By Application (Retail Pharmacies, Hospitals, Others ), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Neuropathy Pain Treatment Market REPORT OVERVIEW

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The global neuropathy pain treatment market size was USD 8527 million in 2021 and market is projected to touch USD 11827.7 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% during the forecast period.

Neuropathic pain is often brought on by an incident or injury, but it can also occur when the body unintentionally sends pain signals to the brain. Chronic neuropathic pain frequently worsens over time. Neuropathic pain is a type of pain that is frequently persistent. The four primary categories of the most frequent causes of neuropathic pain are illness, injury, infection, and limb loss. Finding the underlying illness or condition that is causing the pain and treating it, if possible, is one of the goals of neuropathy pain treatment. Your doctor will make it a priority to reduce your pain, assist you in continuing with daily activities despite the discomfort, and enhance your quality of life.

COVID-19 Impact: COVID-19 has led to Unprecedented Effects on the Healthcare Sector and Fluctuations in Market Demand

Residency programmes have been disrupted in the North American region as a result of university and hospital efforts to address the COVID-19 (SARS-CoV-2) outbreak as rapidly as possible. Most clinical studies and research projects have been temporarily put on hold or delayed. The epidemic also interfered with neurology-related activities including medical training and research. In 2020, the COVID-19 pandemic significantly impacted drug development for neurological disorders because clinical studies were halted by shelter-in-place orders and because it was challenging to collect biofluid samples safely.

The neurological health of people has also been profoundly altered by COVID-19. For instance, in March 2022, scientists at Washington University School of Medicine discovered that many persons who screened positive for the coronavirus in the initial months of the pandemic also endured pain, tingling, and numbness in the hands and feet throughout and after their infections with COVID-19. Due to the COVID-19-caused increase in neuropathic pain, there is a current need for neuropathy pain treatment, which has fueled the market's expansion during the pandemic period.

LATEST TRENDS

"The Development of Novel Therapeutics Neuralgia to Inflate the Market Demand"

The expansion of the neuropathy pain treatment market is being driven by the emphasis on the creation of innovative therapies for postherpetic neuralgia. A side effect of shingles produced by the chickenpox virus is postherpetic neuralgia. There are many medications available to treat postherpetic neuralgia. The adoption rates, however, have been adversely influenced by the lack of efficient therapies. Vendors are concentrating their efforts on creating prospective substitutes as a result. There are now nine compounds in various stages of development for the treatment of postherpetic neuralgia. During the forecast period, such innovations will propel the expansion of the global neuropathy pain treatment market.

Neuropathy Pain Treatment Market SEGMENTATION

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• By Type

Based on type; the neuropathy pain treatment market is divided into calcium channel alpha 2-delta ligands, serotonin-norepinephrine reuptake inhibitors and others.

Calcium channel alpha 2-delta ligands is the leading part of the type segment.

• By Application

Based on the application; the neuropathy pain treatment market is divided into retail pharmacies, hospitals and others.

The retail pharmacies is the leading part of the application segment.

DRIVING FACTORS

"Diabetic Neuropathy Segment to Hold Significant Share and Upsurge the Demand"

Over the course of the projected period, the market segment for diabetes neuropathy is anticipated to increase significantly. The increasing prevalence of the targeted disorders and the introduction of goods for their treatment are the main drivers fueling the segment's rise. The high prevalence of diabetes worldwide is mostly attributed to sedentary and unhealthy lifestyle choices. For instance, diabetic polyneuropathy is the most prevalent neuropathy in developed nations, according to the article titled "Epidemiology and categorization of diabetic neuropathy" updated in January 2021. Additionally, it stated that neuropathy will eventually develop in about 50% of diabetic individuals. Consequently, during the course of the forecast period, this market segment is anticipated to develop.

"Increasing  Use by Individuals Requiring Pain Treatment Globally to Drive the Market Growth"

The demand for neuropathy pain treatment has surged in nations like China, India, and Brazil because to the rising number of people needing pain treatment. Guidelines have also been released by research organizations to address the gaps in pain management. For instance, in APAC, a team of pain experts has produced regionally specific standards. Vendors are also building new facilities in developing nations like Brazil to increase their market share. During the anticipated time frame, these measures will fuel market expansion.

RESTRAINING FACTORS

"The Toxicity and Hazardous Nature to Restrain the Market"

In the upcoming years, a few things could prevent the global market from expanding. However, there are restrictions and risks to be aware of when working with scarred nerve tissue. Neuropathic sensations frequently result in social disintegration of the patients, pushing us to employ microsurgical procedures to peripheral nerve lesions. This can also prevent the neuropathy pain treatment market share from expanding.

Neuropathy Pain Treatment Market REGIONAL INSIGHTS

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"Asia Pacific Region to Lead the Market with Volume Production"

The largest market share in North America has been held by the United States. Over the course of the projection period, it is anticipated that the existence of prominent market players, sizable pharmaceutical and biopharmaceutical sectors, and increased investments in the nation for the adoption of cutting-edge technologies will fuel regional market expansion.The growth of the market in the area is also being fueled by several initiatives from industry participants. The market is expanding as a result of research studies being conducted by industry participants to create effective neuropathic pain treatment medications. Vixotrigine (BIIB074) is a non-opioid experimental oral pain medication being studied for the treatment of small fibre neuropathy. Biogen Inc. reported favourable topline data from its Phase 2 CONVEY study in September 2021, for instance (SFN). Such encouraging findings at various stages of the clinical research can result in the development of the drug in the future, which will fuel the market's expansion.Thus, owing to the above mentioned factors, the North American region is expected to show neuropathy pain treatment market growth over the forecast period.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market.

List of Market Players Profiled

• Pfizer (U.S.A)
• Depomed (U.S.A)
• Eli Lilly (U.S.A)
• Endo (Ireland)
• Grünenthal Group (Germany)
• Arbor Pharmaceuticals (U.S.A).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.