Neuropathic Pain Market to 2027, Future Outlook, Major Players - Sanofi, Abbott, Astellas, Pfizer, Eli Lily, Johnson and Johnson, AstraZeneca

Neuropathic Pain Market is expected that the Market will see growth with a CAGR of 6.3% by 2020 to 2027. The total estimated value of the Market will reach around USD 28.77 billion by the year 2027.

Market Dynamics

Multiple causes of neuropathic pain have been identified, and its prevalence is expected to rise as the global population ages, diabetes mellitus becomes more common, and cancer survivorship improves following treatment.

The market is growing because to an increase in cancer cases and technical developments. The fact that these devices are long-lasting and efficient is a major factor driving the neuropathic pain market demand in the foreseeable future. The rising prevalence of chronic pain and neuropathic pain conditions linked to a variety of diseases will propel the neuropathic pain industry forward. Furthermore, one of the primary factors leading to the expansion of neuropathic pain is the rise of pipeline medications by firms for neuropathic pain. The large population is also regarded as one of the market's key critical drivers. Furthermore, better treatment facilities, improved healthcare systems, increased demand for neuropathic pain, considerable expenditures by pharmaceutical companies, improved drug quality, and the number of pain management systems will all contribute to the market's growth.

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Key Players

The notable players of the market are Sanofi, Abbott, Astellas, Pfizer, Eli Lily, Johnson and Johnson, AstraZeneca, and GSK.

Segmental Analysis

Peripheral neuropathy (PN), entrapment neuropathy, trigeminal neuralgia, phantom limb pain (PLP), postherpetic neuralgia (PHN), and post-traumatic neuropathy are the many types of neuropathic pain.

Diabetic neuropathy, chemotherapy-induced peripheral neuropathy, spinal stenosis, and other indications make up the global neuropathic pain market.

The global neuropathic pain market is divided into three categories based on diagnosis: physical examination, imaging, and blood testing.

On the basis of treatment, the worldwide neuropathic pain market is divided into medication and multimodal therapy.

Retail pharmacies & drug stores and online pharmacies are the two distribution channels through which the worldwide neuropathic pain market is classified.

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Regional Analysis

In the year 2019, the countries of North and South America had a combined market value of USD 6,645.09 million. During the projection period, it is expected to grow at a CAGR of roughly 5.6 percent. The neuropathic pain market is growing due to an increase in the number of conditions associated with neuropathic pain, technological advancements, and more awareness. The presence of key market players and large pharmaceutical and biopharmaceutical industries, as well as increasing expenditures in the country for the adoption of modern technologies, are projected to drive regional market growth throughout the projection period.

These countries' leading players are participating in new product launches and acquisitions for the neuropathic pain market in Europe. Furthermore, growing worry about the frequency of neuropathy and other related illnesses is driving up demand for neuropathic pain treatments. Because to advancements in healthcare expenditure and funding, the United Kingdom now dominates the European market.

In APAC, market growth is attributable to a huge patient population suffering from neurological discomfort, as well as an increasing elderly population susceptible to such ailments. Because of the rising prevalence of chronic pain and technological advancements in the healthcare sector, China is the leading country in the Asia-Pacific neuropathic pain market.

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