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Emerging Trends to Reshape the Global Neuralgia Treatment Market: Innovative Products Drive Market Advancements In The Neuralgia Treatment Industry as a Key Influencer
Neuralgia Treatment
Neuralgia Treatment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market dedicated to treating neuralgia has experienced robust expansion recently, projected to increase from $2.3 billion in the year 2024 to reach $2.43 billion by 2025, reflecting a compound annual growth rate (CAGR) of 5.7%; this historical period's upward trajectory is sustained by numerous factors, including an increasing incidence of neuralgia, greater public and professional knowledge regarding neuropathic pain, an escalation in persistent pain disorders, elevated levels of discretionary income, and supportive governmental programs.
Neuralgia Treatment Market Size Forecast: What's the Projected Valuation by 2029?
Anticipation is high for considerable expansion within the neuralgia treatment sector over the forthcoming years, projecting a market valuation of $3.13 billion by 2029, spurred by a compound annual growth rate (CAGR) of 6.5%; this upward trajectory is fundamentally supported by demographic shifts toward an older populace, the emergence of novel therapeutic approaches, a rise in diabetes cases, and augmented spending on healthcare, while key developments expected to shape this landscape involve progress in pain management techniques, the introduction of inventive product offerings, the incorporation of digital health solutions, and the creation of novel methods for drug administration.
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What Are the Drivers Transforming the Neuralgia Treatment Market?
The rising prevalence of chronic diseases such as diabetes is anticipated to drive the growth of the neuralgia treatment market in the coming years. Chronic diseases are long-term conditions that persist for a year or more, often requiring continuous medical attention and potentially limiting daily activities. Diabetes, a chronic metabolic disorder characterized by elevated blood glucose levels, can lead to diabetic neuropathy - a form of nerve damage that neuralgia treatments help manage. For instance, in September 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations, 41 million deaths occurred annually due to non-communicable diseases (NCDs) or chronic illnesses, accounting for 74% of global deaths. Hence, the growing prevalence of chronic diseases such as diabetes is fueling the expansion of the neuralgia treatment market.
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What Long-Term Trends Will Define the Future of the Neuralgia Treatment Market?
Leading enterprises within the neuralgia therapeutics sphere are concentrating their efforts on engineering novel offerings and methodologies to uphold their standing in the marketplace. As an illustration, during April 2023 in the Indian territory, GlaxoSmithKline Pharmaceuticals Ltd., a pharmacological entity situated in India, introduced Shingrix, which stands as the premier non-live, recombinant subunit vaccination globally. This immunization is specifically formulated to offer protection against shingles alongside its complication, post-herpetic neuralgia, for individuals aged fifty and above, necessitating two intramuscular injections. The vaccine preparation integrates the glycoprotein E antigen along with the AS01B adjuvant grouping to elicit a robust and enduring immune reaction capable of combating age-related decline in immune function. Data gleaned from clinical assessments affirm its 97% efficacy in preventing shingles among adult populations, while simultaneously demonstrating significant success in averting post-herpetic neuralgia, a debilitating pain condition that can follow a shingles infection.
Which Segments in the Neuralgia Treatment Market Offer the Most Profit Potential?
The neuralgia treatmentmarket 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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Which Firms Dominate the Neuralgia Treatment Market by Market Share and Revenue in 2025?
Major companies operating in the neuralgia treatment market 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.
Which Regions Offer the Highest Growth Potential in the Neuralgia Treatment Market?
North America was the largest region in the neuralgia treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuralgia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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