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Neuropathic Pain Management Market Exclusive insight on Transformation 2029 | Grünenthal, Mallinckrodt Pharmaceuticals

08-05-2020 12:00 PM CET | Health & Medicine

Press release from: TMR Research

TMR Research

TMR Research

Global Neuropathic Pain Management Market: Overview

Neuropathic pain is defined as pain that occurs due to damage to nerve endings, usually on the surface of the body. The pain feels like a needle stab or an electric shock. Other common qualities associated with this pain include a burning or cold sensation, a “pins and needles” sensations, numbness and itching. A number of chronic diseases lead to the occurrence of neuropathic pain, principal among them being diabetes. Other causes of neuropathic pain include nerve root avulsions, postherpetic neuralgia, and other causes of nerve inflammation. Anesthetics, anticonvulsants, and antidepressants are some of the usual medications prescribed for neuropathic pain.

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As per TMRR, as geriatric population sees an increase its number, such cases would rise, driving the global neuropathic pain management market on a sturdy growth curve over the forecast period of 2019 to 2029.

Global Neuropathic Pain Management Market: Competitive Landscape

The global neuropathic pain management market is competitive and consists of a few major players. The distinguished names are as mentioned below:

Grünenthal
Mallinckrodt Pharmaceuticals
AstraZeneca
Biogen Inc.
Eli Lilly and Company
GlaxoSmithKline Plc
Johnson & Johnson
Pfizer, Inc.
Sanofi
To players are looking to expand into geographically by increasing public outreach and awareness about their products. This is leading them to strategic alliances and enabling a more conducive research and development environment.

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Global Neuropathic Pain Management Market: Key Trends and Drivers

Since diabetes is a major cause of neuropathic pain globally, a rise in the number of diabetics over the world is expected to increase demand for neuropathic drugs. The number of people with diabetes worldwide is projected to double till 2030 from its current levels. Diabetic polyneuropathy (DPN), the most common diabetic complication seen over a long term ultimately leads to neuropathic pain. DPN increases expenses associated with diabetes, with around a fourfold increase seen due to an increased requirement for drugs and surgical procedures over a long term of living with diabetes.
Cancer and the management of neuropathic pain in certain cancerous conditions constitute a massive share of growth in neuropathic drugs market. Cancer is currently the second biggest killer after heart disease, with 1 in 6 deaths attributed to any one of various cancerous conditions. Since many of these patients bear with neuropathic pain as a late stage complication, the neuropathic pain management market should find an increased demand.
Another major cause for the rise in neuropathy cases is the increasing geriatric population which shall develop a host of chronic problems over time. By 2050, the global geriatric population is expected to increase by 22% to about 2 billion individuals. An increase in chronic conditions signals a rise in use of neuropathic drugs.

Global Neuropathic Pain Management Market: Regional Analysis

In North America, the United States holds the largest market share with regards to neuropathic pain management. The presence of major market players and a good medical logistical sector, increased awareness and a rising investment in the country for advanced health care and monitoring technologies is set to boost growth in this region in the near future.

The Asia Pacific region is expected to witness steady growth in the neuropathic pain management market due to an increased emphasis on palliative care services and reimbursements policies for economically weaker sections of society, which frequently bear the brunt of these chronic diseases.

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About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends

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TMR Research,
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San Francisco, CA 94121
United States
Tel: +1-415-520-1050

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