ID: MRFR/HC/0881-CR | March 2021 | Region: Global | 208 pages
Global Neuropathic Pain Market is expected to register a CAGR of 6.3% during the assessment period of 2020 to 2027, to reach USD 28,778.20 Million by 2027.
Global Neuropathic Pain Market growth is attributed to the rising prevalence of diabetic neuropathy, increasing expenditure on healthcare, and the growing incidence of trauma from injury. Other factors like rising cases of chemotherapy-induced neuropathic pain and the increasing number of patients suffering from conditions such as carpal tunnel syndrome are driving the market growth for the global neuropathic pain market. Approval of novel treatment options for neuropathic pain, rise in the number of pain management centers, and increasing demand for treatment of neuropathic pain are factors driving the growth of the global neuropathic pain market.
However, increasing counterfeit drugs & side effects of therapeutic treatments coupled with lack of awareness about the neurological condition is anticipated to hamper the market negatively.
Global Neuropathic Pain Market, By Type, 2019 (%)
Source: MRFR Analysis
Global Neuropathic Pain Market is segmented based on Type, Indication, Diagnosis, Treatment Distribution Channel, and End User.
Global Neuropathic Pain Market is segmented, based on type, into peripheral neuropathy (PN), entrapment neuropathy, trigeminal neuralgia, phantom limb pain (PLP), post herpetic neuralgia (PHN), and post traumatic neuropathy. The rising number of trauma and injuries from sports and increasing instances of neuropathy due to changes in lifestyle are some of the main factors driving the demand for the neuropathic pain market.
Global Neuropathic Pain Market, by indication, is segmented as diabetic neuropathy, chemotherapy-induced peripheral neuropathy, spinal stenosis, and others. The diabetic neuropathy segment is further categorized into painful diabetic peripheral neuropathy (PDPN), proximal neuropathy, autonomic neuropathy and focal neuropathy. The increasing prevalence of diseases causing neuropathic pain and a growing aging population is anticipated to contribute to the market growth.
The global neuropathic pain market on the basis of diagnosis is segmented into physical examination, imaging, and blood tests. The imaging segment accounted for a major market share of 52.9% in 2019 and is expected to exhibit a CAGR of 6.9% during the assessment period. This segment is further segmented into electromyography, MRI, and CT scans. Electromyography is a test that measures the electrical activity of the nerve and the muscle.
Factors such as the rising awareness among patients for the treatment of neuropathic pain and the growing launches of products to treat neuropathic pain boost the growth of the market. The global neuropathic pain market on the basis of treatment is segmented into medication and multimodal therapy. Furthermore, by medication, the market is segmented into NSAIDS, antidepressant drugs, anticonvulsants, and nerve blocks.
The global neuropathic pain market, by distribution channel, is segmented into retail pharmacies & drug stores and online pharmacies. The increasing geriatric population, growing prevalence of diabetes and cancer, and the increasing demand for neuropathic pain drugs are likely to boost the growth of the market during the assessment period.
On the basis of end users, the global neuropathic pain market is segmented into hospitals, clinics, and research organizations. Factors such as growing healthcare expenses, a rise in the number of pain management centers, and increasing demand for treatment of neuropathic pain are anticipated to contribute to the growth of the market. The World Health Organization (WHO), on February 20, 2019, released a new report on global health expenditure, according to which global spending on health increased in low- and middle-income countries by 6 percent and in high-income countries by 4 percent.
Western Europe Neuropathic Pain Market Share, By Country, 2019 (%)
Source: MRFR Analysis
Global Neuropathic Pain Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas market has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The neuropathic pain market has been segmented into Western Europe and Eastern Europe. The Western Europe neuropathic pain market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Neuropathic Pain market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. The Middle East & Africa Neuropathic Pain market has been divided into the Middle East and Africa.
The Americas accounted for a market size of USD 6,645.09 million in 2019 and is expected to exhibit a CAGR of 5.6% during the forecast period. The market share of 36.24% for the Americas is owing to the increasing prevalence of neuropathic pain-related disorders, growing awareness related to neuropathic pain, technological advancements in the treatment strategies and a rising number of clinical trials focused on neuropathic pain and its treatment.
The Prominent Players in Global Neuropathic Pain are Abbott, GSK, Sanofi, Pfizer, Eli Lily, AstraZeneca, Johnson and Johnson, Depomed, Biogen, Inc., and Astellas. Some of the key strategies followed by market players were FDA approvals, acquisitions, joint ventures, expansions, and collaborations.
Global Neuropathic Pain Market, By Type
Global Neuropathic Pain Market, By Indication
Global Neuropathic Pain Market, By Diagnosis
Global Neuropathic Pain Market for Diagnosis, By Treatment
Global Neuropathic Pain Market for Medication, By Distribution Channel
Global Neuropathic Pain Market By End user
Global Neuropathic Pain Market, By Region
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Frequently Asked Questions (FAQ) :
Neuropathic pain market projected to grow at approximately 6.06% CAGR during the assessment period (2018-2023).
The valuation of the global neuropathic pain market is estimated to increase to USD 8,017.43 MN by the end of 2023.
Increasing cases of neuropathic pain and the demand for pain management methods are major tailwinds pushing the growth of the global neuropathic pain market.
North America holds the largest share in the global neuropathic pain market, followed by Europe and the Asia Pacific, respectively.
AstraZeneca (U.K.), Depomed Inc. (U.S.), Baxter Healthcare Corporation (U.S.), Astellas Pharma Inc. (Tokyo), Johnson & Johnson Services Inc. (U.S.), Pfizer, Inc. (U.S.), Biogen Inc. (U.S.), Sanofi S.A. (France), GlaxoSmithKline plc (U.K.), Abbott Laboratories (U.S.), and Eli Lilly and Company (U.S.), are some of the top players operating in the global neuropathic pain market.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.