Neuropathic Pain Therapeutics Market Growth, Trends, and Report to 2030

Research and Development Coupled with Launch of New Drugs to Boost Market

Neuropathic pain is a chronic condition wherein pathological pain continues even after the cause of the pain is eliminated. Over the past few decades, scientists and researchers have been increasingly focusing on the discovery of novel therapeutics that are essential to interrupt the signaling cascades required to manage various forms of neuropathic pain.

Research and development are expected to play a major role in the overall development of the neuropathic pain therapeutics market during the forecast period. Neuropathic pain is a chronic disease that affects nearly 8% of the global population and continues to remain a major socioeconomic and medical issue.

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Some of the most common pharmacological treatments to address neuropathic pain that are widely deployed include tricyclic antidepressants (amitriptyline), repurposed antiepileptic (gabapentin, pregabalin), opioids, and steroids.

However, these medications bring along a range of side effects due to which, added pressure is being applied to participants operating in the neuropathic pain therapeutics market to discover new treatment types and approaches. Consistent research and development are being carried out to investigate cellular and molecular mechanisms underlying the switch from nociceptive responses to noxious stimuli to neuropathic pain.

Several players in the market are focusing on attaining approval from the FDA and expanding their product portfolio to gain an advantage in the current market landscape. At the back of these factors, along with growing collaborations between researchers and drug developers, the global neuropathic pain therapeutics market is expected to reach a market value of ~US$ 10.2 Bn by the end of 2030.

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Market Participants Focus on Launch of New Drugs, Pipeline Therapeutics, and FDA Approval

Due to the exponential rise in the number of individuals suffering from neuropathic pain, research and development activities have accelerated at a rapid pace. Market participants are increasingly focusing on launching new medication to address neuropathic pain by investing in research and collaborating with other stakeholders in the supply chain.

In addition, gaining approval from the FDA in a relatively short period of time continues to remain a major challenge for players operating in the current neuropathic pain therapeutics market.
Market players in different regions are opting for different growth strategies to gain an edge in the current market landscape. For instance, in April 2019, Daiichi Sankyo Company announced the launch of Tarlige ® Tablets for neuropathic treatment in Japan.

The company revealed that the newly launched drug is likely to benefit patients who are suffering from peripheral neuropathic pain. While small-scale development of new drugs continues to gain momentum, several market players are increasingly focusing on collaborations to expand their existing product portfolio. For instance, in March 2019, Merck & Co., announced its plans of developing a new range of neuropathic pain treatments by leveraging technologies developed by FMedSci- a joint collaboration between two players. The company further revealed that the collaboration could potentially generate ~US$ 344 Mn in revenue for King's College London.

The collaboration is also aimed at addressing the unmet clinical requirements and developing new solutions to treat neuropathic pain. Such collaborations and joint ventures in the current market landscape are likely to positively impact the overall growth of the neuropathic pain therapeutics market.

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Supply-chain Challenges May Hinder Market Growth, Number of Procedural Visits to Decline

As the healthcare sector around the world is predominantly engaged in containing the spread of the novel coronavirus, as a result, a number of surgical procedures, outpatient procedures, and drug development projects has either been delayed or completely canceled. Due to the growing number of hurdles put forward by the COVID-19 pandemic, the healthcare sector is finding new ways to address the requirements of patients suffering from chronic conditions, including neuropathic pain. Companies in the neuropathic pain therapeutics market are expected to focus on exploring different strategies to ensure the continuity in drug development particularly for opioids, biopsychosocial management, anti-inflammatory drugs, etc.

The growing evidence stating that chronic pain patients are at a higher risk of getting infected by COVID-19 is another factor that is expected to provide a boost to drug development and research amid the ongoing COVID-19 pandemic.

Neuropathic Pain Therapeutics Market: Overview

• Neuropathic pain is treated by different medicines than pain from damaged tissue. Medicines such as paracetamol or ibuprofen are probably not effective in neuropathic pain, while medicines that are sometimes used to treat depression or epilepsy can be very effective for some people with neuropathic pain.

• Prevalence of neuropathic pain among people of color and Hispanics was consistently higher than Caucasians in each age- and sex group. The highest prevalence of neuropathic pain was among Hispanic men 35-44 years (32.4%) and 45-54 years (24.2%) old.

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Neuropathic Pain Therapeutics Market: Drivers

• Rise in prevalence of diabetic neuropathy and other targeted diseases boosts the growth of the global neuropathic pain therapeutics market. Prevalence of peripheral neuropathy is estimated to be between 6% and 51% among adults with diabetes depending on age, duration of diabetes, glucose control, and type 1 versus type 2 diabetes. Diabetic neuropathy is the primary risk factor for the development of diabetic foot ulcers and is implicated in 50% to 75% of non-traumatic amputations.

• Surveys conducted in the general population across Europe reported that the prevalence of neuropathic pain was 7% in 2017. Prevalence data from the International Diabetes Federation estimates that foot ulcers develop in 9.1 million to 26.1 million people with diabetes globally each year.

Increase in Adoption of Pain Management Therapeutics among End Users

• Pain leads to severe complications if proper care or treatment is not taken. Doctors usually prescribe medicines in the initial stages of pain, followed by other treatment options. Prescription drugs are easy and cost-effective to use at individual level without any ambiguity. Increased awareness about available medications for neuropathic pain management propels the consumption and acceptance of pain management drugs over other treatment options.

• Hence, high availability, easy access, high awareness, cost-effectiveness, and quick relief provide neuropathic pain management therapeutics a cutting edge over other treatment options

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Market Segmentation: Neuropathic Pain Therapeutics Market

• In terms of drug class, the global neuropathic pain therapeutics market has been divided into anticonvulsants, antidepressants, NSAIDs, opioids, steroids, and others. The antidepressants segment has been bifurcated into tricyclic antidepressants and serotonin-norepinephrine reuptake inhibitors (SNRIs).
• Based on indication, the global neuropathic pain therapeutics market has been classified into diabetic neuropathy, post-herpetic neuralgia, cancer-related pain, spinal cord injury, and others

• In terms of route of administration, the global neuropathic pain therapeutics market has been classified into oral, topical, and others

• Based on distribution channel, the global neuropathic pain therapeutics market has been categorized into retail pharmacies, hospital pharmacies, and online pharmacies

• Each of the segments has been analyzed in detail for market trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The report provides current and future revenue (US$ Mn) for each of these segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030 along with market size estimations.

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Regional Overview: Neuropathic Pain Therapeutics Market

• In terms of region, the global neuropathic pain therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.

• Rise in adoption of neuropathic pain therapeutics for treatment and increase in number of clinical trials for the development of these products for different disorders drive the market in North America

• The current and future market sizes in terms of revenue (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2018 to 2030, along with their CAGRs for the period from 2020 to 2030

• The study also offers a list of recommendations, highlights, and useful insights of the market, which will help new companies willing to enter the market and existing companies to increase market share and in the decision-making process
Major Players

• The report concludes with the company profiles section that includes key information about the major players in the market
• Leading players analyzed in the report are
o Pfizer
o Novartis AG
o AstraZeneca
o GlaxoSmithKline
o Eli Lilly and Company
o Mallinckrodt Pharmaceuticals
o Johnson & Johnson
o Abbott
o Endo Pharmaceuticals, Inc.
o Teva Pharmaceutical Industries Limited
o Merck & Co., Inc.

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