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 : May, 2021 | 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?