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Neuropathic Pain Global Market Report 2024 - By Trends, Key Drivers, Top Manufacturers, Opportunities Forecast To 2033
The Business Research Company's Neuropathic Pain Global Market Report 2023 identifies growing prevalence of chronic pain as the major driver for the Neuropathic Pain market's growth in the forecast period. Chronic pain is persistent and ongoing pain that lasts beyond the expected healing time of an injury or illness. It is characterized by its duration, typically lasting at least three to six months or more. The rising prevalence of chronic pain, including neuropathic conditions, requires effective treatments, spurring research, innovation and investment in improved therapies to enhance symptom relief and quality of life.
The neuropathic pain market size has grown strongly in recent years. It will grow from $4.95 billion in 2023 to $5.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing demand for neuropathic pain drugs, chronic pain epidemic, growing demand for prescription treatments, government initiatives. The neuropathic pain market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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Major competitors in the Neuropathic Pain market are Pfizer Inc., Johnson & Johnson Private Limited, Sanofi S.A., Bristol-Myers Squibb Company, Abbott Laboratories.
A key trend in the Neuropathic Pain market includes anticipated rise in the prevalence of diabetes. Diabetes is a chronic medical condition characterized by elevated glucose (sugar) levels in the blood. Diabetes neuropathies are the most frequent chronic consequences of diabetes, with a lifetime prevalence of more than 50% in diabetics. Diabetic peripheral neuropathy (DPN) is the most frequent type of neuropathy and has the most evidence-based therapy methods. For instance, according to the International Diabetes Federation's Diabetes Atlas, a US-based non-profit organization, approximately 537 million adults (20-79 years) lived with diabetes worldwide in 2021. In addition, the total number of people living with diabetes will rise to 643 million by 2030 and 783 million by 2045. Hence, the growth of the neuropathic pain market is being driven by the increasing number of diabetes cases.
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The Neuropathic Pain market is segmented -
• By Treatment: Medications, Multimodal Therapy
• By Diagnosis: Imaging, Blood Tests And Physical Examination
• By Indication: Diabetic Neuropathy, Spinal Stenosis, Chemotherapy-Induced Peripheral Neuropathy, Other Indications
• By End User: Hospitals, Clinics, Home Healthcare, Ambulatory Surgical Centers, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Neuropathic Pain market.
The Business Research Company's "Global Neuropathic Pain Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Neuropathic Pain Market Include:
1. Executive Summary
2. Neuropathic Pain Market Characteristics
3. Neuropathic Pain Market Trends And Strategies
4. Neuropathic Pain Market - Macro Economic Scenario
5. Global Neuropathic Pain Market Size and Growth
.....................
32. Global Neuropathic Pain Market Competitive Benchmarking
33. Global Neuropathic Pain Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Neuropathic Pain Market
35. Neuropathic Pain Market Future Outlook and Potential Analysis
36. Appendix
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