Neuropathic Pain Management Market: Global Industry Analysis, Size, Trends, Growth, Forecast 2019 - 2029

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Neuropathic Pain Management Market: Global Industry Analysis, Size, Trends, Growth, Forecast 2019 - 2029

Status : March, 2023 | Pharmaceutical

Report Digest

Global Neuropathic Pain Management Market: Overview

Neuropathic pain is defined as pain that occurs due to damage to nerve endings, usually on the surface of the body. The pain feels like a needle stab or an electric shock. Other common qualities associated with this pain include a burning or cold sensation, a "pins and needles" sensations, numbness and itching. A number of chronic diseases lead to the occurrence of neuropathic pain, principal among them being diabetes. Other causes of neuropathic pain include nerve root avulsions, postherpetic neuralgia, and other causes of nerve inflammation. Anesthetics, anticonvulsants, and antidepressants are some of the usual medications prescribed for neuropathic pain.

As per TMRR, as geriatric population sees an increase its number, such cases would rise, driving the global neuropathic pain management market on a sturdy growth curve over the forecast period of 2019 to 2029.

Global Neuropathic Pain Management Market: Competitive Landscape

The global neuropathic pain management market is competitive and consists of a few major players. The distinguished names are as mentioned below:

  • Grünenthal
  • Mallinckrodt Pharmaceuticals
  • AstraZeneca
  • Biogen Inc.
  • Eli Lilly and Company
  • GlaxoSmithKline Plc
  • Johnson & Johnson
  • Pfizer, Inc.
  • Sanofi

To players are looking to expand into geographically by increasing public outreach and awareness about their products. This is leading them to strategic alliances and enabling a more conducive research and development environment.

Global Neuropathic Pain Management Market: Key Trends and Drivers

  • Since diabetes is a major cause of neuropathic pain globally, a rise in the number of diabetics over the world is expected to increase demand for neuropathic drugs. The number of people with diabetes worldwide is projected to double till 2030 from its current levels. Diabetic polyneuropathy (DPN), the most common diabetic complication seen over a long term ultimately leads to neuropathic pain. DPN increases expenses associated with diabetes, with around a fourfold increase seen due to an increased requirement for drugs and surgical procedures over a long term of living with diabetes. 
  • Cancer and the management of neuropathic pain in certain cancerous conditions constitute a massive share of growth in neuropathic drugs market. Cancer is currently the second biggest killer after heart disease, with 1 in 6 deaths attributed to any one of various cancerous conditions. Since many of these patients bear with neuropathic pain as a late stage complication, the neuropathic pain management market should find an increased demand.
  • Another major cause for the rise in neuropathy cases is the increasing geriatric population which shall develop a host of chronic problems over time. By 2050, the global geriatric population is expected to increase by 22% to about 2 billion individuals. An increase in chronic conditions signals a rise in use of neuropathic drugs.

Global Neuropathic Pain Management Market: Regional Analysis

In North America, the United States holds the largest market share with regards to neuropathic pain management. The presence of major market players and a good medical logistical sector, increased awareness and a rising investment in the country for advanced health care and monitoring technologies is set to boost growth in this region in the near future.

The Asia Pacific region is expected to witness steady growth in the neuropathic pain management market due to an increased emphasis on palliative care services and reimbursements policies for economically weaker sections of society, which frequently bear the brunt of these chronic diseases.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?