Press release
Global Neuralgia Treatment Market Share to Reach $3.13 Billion by 2029, Growing at 6.4% CAGR
Neuralgia Treatment Market Share
The escalating incidence of enduring illnesses, particularly diabetes, is set to stimulate the development of the neuralgia treatment Market Share in the future. Long-lasting diseases require prolonged medical intervention and can limit daily activities. Diabetes, a chronic metabolic disease, results in elevated blood glucose or blood sugar levels. Neuralgia therapy can be beneficial in managing diabetic neuropathy, a condition causing nerve damage in individuals suffering from diabetes. For example, the World Health Organization, the UN's specialized agency based in Switzerland, reported 41 million fatalities in September 2023, accounting for 74% of deaths from non-communicable or chronic diseases worldwide annually. Thus, the growing occurrence of chronic diseases like diabetes is promoting the neuralgia treatment Market Share's growth. Unveiling the Neuralgia Treatment Market Share Driver: Neuralgia Treatment Market Share Extension Propelled by Expected Surge in Surgical Procedures
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What growth opportunities are expected to drive the neuralgia treatment Market Share's CAGR through 2034?
In past years, there has been solid growth in the neuralgia treatment Market Share. The Market Share size is projected to increase from $2.3 billion in 2024 to $2.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this growth during the historic period include an increased occurrence of neuralgia, heightened awareness of neuropathic pain, a rise in chronic pain conditions, availability of high disposable income, and government initiatives.
It is projected that the neuralgia treatment Market Share will experience significant expansion in the coming years, reaching a size of $3.13 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 6.4%. The causes of this predicted surge during the forecast period can be linked to factors such as the aging population, the evolution of new therapies, rising diabetes cases, and increased spending on healthcare. The forecast period is also expected to witness trends such as progress in pain management techniques, the emergence of innovative products, the integration of digital health, and the creation of novel drug delivery systems.
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What are the emerging trends shaping the future of the neuralgia treatment Market Share?
Leading organizations in the neuralgia treatment Market Share are actively pursuing innovation to maintain their Market Share standing. In April 2023, GlaxoSmithKline Pharmaceuticals Ltd., an Indian pharmaceutical enterprise, introduced Shingrix in India. This unique vaccine, the first non-live and recombinant subunit vaccine globally, aims to protect adults over 50 from shingles and post-herpetic neuralgia. The vaccine, which is given intramuscularly in two rounds, combines the antigen glycoprotein E with the AS01B adjuvant system to stimulate a robust, enduring immunological reaction that combats age-related immune system decline. Clinical trials demonstrated that it successfully prevents shingles in adults with a 97% efficacy rate, and it also effectively safeguards against post-herpetic neuralgia, a painful shingles after-effect.
Which growth-oriented segments of the neuralgia treatment Market Share are leading the industry's development?
The neuralgia treatment Market Share covered in this report is segmented -
1) By Treatment: Drug Based, Surgeries
2) By Indication: Diabetic Neuropathy, Intercostal Neuralgia, Occipital Neuralgia, Peripheral Neuralgia, Postherpetic Neuralgia
3) By Distribution channels: Drug Stores, Hospital Pharmacies, Online Pharmacies, Retail Pharmacies
4) By End-Use: Hospitals And Clinics, Ambulatory Surgery Centers, Other End-Users
Subsegments:
1) By Drug Based: Anticonvulsants, Antidepressants, Opioids, Topical Treatments, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
2) By Surgeries: Nerve Block Procedures, Decompression Surgery, Neurectomy, Spinal Cord Stimulation
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What regions are leading the charge in the neuralgia treatment Market Share?
North America was the largest region in the neuralgia treatment Market Share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuralgia treatment Market Share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the neuralgia treatment Market Share?
Major companies operating in the neuralgia treatment Market Share are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Eli Lilly and Company, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Biogen Inc., Daiichi Sankyo Company Limited, Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Limited, Horizon Therapeutics, Purdue Pharma, Dr. Reddy's Laboratories, Cipla Limited, Hikma Pharmaceuticals PLC, Zydus Lifesciences Ltd., Lupin Limited, Mallinckrodt Pharmaceuticals, Glenmark Pharmaceuticals, Tonix Pharmaceuticals.
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What Is Covered In The Neuralgia Treatment Global Market Share Report?
•Market Share Size Forecast: Examine the neuralgia treatment Market Share size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the neuralgia treatment Market Share for a structured understanding.
•Key Players Overview: Analyze major players in the neuralgia treatment Market Share, including their Market Share value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the neuralgia treatment Market Share.
•Segment Contributions: Evaluate how different segments drive overall growth in the neuralgia treatment Market Share.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the neuralgia treatment Market Share.
•Industry Challenges: Identify potential risks and obstacles affecting the neuralgia treatment Market Share.
•Competitive Landscape: Review strategic developments in the neuralgia treatment Market Share, including expansions, agreements, and new product launches.
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