Press release
Neuropathic Pain Market Size Worth US$ 14,538.7 Million by 2034 at a CAGR of 5.7% | Fact.MR
Neuropathic Pain Market
The market is driven by the advancement of new mechanisms for relieving nerve pain in neurological pain therapy. Neuropathic drugs leverage these technological improvements to introduce new, more potent drugs that can bridge the gaps in patient treatment protocols.
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Neuropathic Pain Market Trends and Analysis
Localized pain therapy without systemic side effects has become a reality due to developments in topical neuropathy for the relief of pain. Therefore, in order to create topical treatments, market players are capitalizing on research and development efforts, which have also opened up the range of therapy options.
Genomics and biomarkers research in pain genetics has enhanced the understanding and knowledge of the mechanisms of neuropathic pain. With this knowledge, a lot of pharmaceutical industries are also venturing into the industry to offer personalized and effective pain relief with new drugs.
Country-wise Insights
The North American neuropathic pain market is worth US$ 3,295 million in 2024. Combination therapies are very much in vogue among patients in North America, and also allow physicians to design medicines that address multiple pain circuits simultaneously.
The United States neuropathic pain industries will account for 78.1% of the North American market's sales in 2024 and are the leading nation in the region. Due to the increasing share of the aging population, a large market for the drugs of chronic pain relief has been established in the United States, and they are more prone to neuropathic pain issues.
Category-wise Insights
Of the various types or classes of drugs available for the treatment of neuropathic pain, anticonvulsants form the dominant drug segment with a total market share of 42.6% in 2024. With concerns about opioid misuse on the rise, non-opioid options for managing neuropathic pain are gaining prominence.
Thus, in accordance with this trend of safer and longer-duration pain relief options, industry participants are providing new anticonvulsant painkillers. During the forecast period, the demand for anticonvulsants across the world is likely to grow at a CAGR of 6.4%, and the net value of this sector will grow to US$ 6,666.4 million by 2034.
Tricyclic anti-depressant drugs with dosages and formulations suitable for each age group based on the requirements of the patients in that age group make up the second leading segment. The segment is expected to provide increased opportunities for new market participants by growing at a CAGR of 5.8% during the period 2024-2034. The net revenue contributed by this segment is anticipated to be approximately US$ 5,140.8 million by 2034, up from US$ 2,928.6 million in 2024.
Competitive Landscape
Major competitors in the neuropathic pain market are Pfizer Inc., Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Sanofi S.A, GlaxoSmithKline plc, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., and Baxter International Inc.
The validity and availability of neuropathic pain medication developed and advanced through collaborations of dominant players with healthcare institutions. Apart from their adherence to health laws, they are compensated with an expanded market share. But government-run programs that address chronic pain management have facilitated the growth of numerous neuropathic pain treatment suppliers in recent times.
Recent Developments
In September of 2022, AlgoTx Corporation initiated a phase 2 clinical trial for evaluating ATX01 in individuals with chemotherapy-induced peripheral neuropathy (CIPN). As far as topical amitriptyline, a novel drug, is concerned, the company conducted the clinical trial at over 40 sites within Europe and the United States.
In January 2020, researchers at Huazhong Agricultural University in China confirmed that Synaptotagmin 1 (Syt-1), a synaptic vesicle protein, could prevent neuropathic pain. Scientists assert that it regulates the exocytosis of neurotransmitters and electroacupuncture alleviates neuropathic pain by inhibiting spinal Syt-1. Various other studies have also discovered that neuropathic pain can be efficiently treated by applying electroacupuncture techniques.
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Key Segments Covered by Neuropathic Pain Industry Survey Report
By Drug Class :
Tricyclic Anti-Depressants
Anticonvulsants
SNRI's
Capsaicin Cream
Local Anesthesia
Opioids
Steroids
Other Drugs
By Indication Type :
Diabetic Neuropathy
Trigeminal Neuralgia
Post-Herpetic Neuralgia
Chemotherapy-Induced Peripheral Neuropathy
Other Indications
By Sales/Distribution Channel :
Retail Pharmacies
Hospital Pharmacies
Online Pharmacies
Other Sales Channels
By Region :
North America Market
Europe Market
Latin America Market
East Asia Market
South Asia & Oceania Market
Middle East & Africa (MEA) Market
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