What Fueled The Previous Growth In The Neuropathic Pain Market?
The neuropathic pain market has seen considerable growth due to a variety of factors.
• In the past few years, the neuropathic pain market size has seen robust growth. The market that was valued at $5.35 billion in 2024 is predicted to reach $5.79 billion by 2025, growing at a compound annual growth rate (CAGR) of 8.2%.
The amplified demand for neuropathic pain medicines, the persistent pain epidemic, increased desire for prescription therapies, and government schemes have all contributed to the historical growth period.
What Is The Expected Growth In The Neuropathic Pain Market Size Evolve over the Forecast Period?
The neuropathic pain market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of neuropathic pain is anticipated to witness a robust increase in the coming years, reaching a substantial value of $7.76 billion by 2029 at a compound annual growth rate (CAGR) of 7.6%.
This growth, expected in the forecasted period, can be credited to factors such as rising awareness of neuropathic pain, an expanding elderly population, an extensively developed healthcare sector, and easy accessibility to treatments for neuropathic pain. Noteworthy trend projections for this estimated period encompass enhanced diagnostic procedures, progress in pain management tactics, advancement in medical research, approvals for new drugs, and strategic initiatives.
What Main Forces Are Fueling Expansion In The Neuropathic Pain Market?
Increasing chronic pain prevalence is set to stimulate the neuropathic pain market's expansion. Chronic pain is a persistent agony that exceeds the predicted recovery period of an ailment or injury and usually lasts at least three to six months. This rising prevalence of chronic pain, inclusive of neuropathic conditions, necessitates efficient treatments, kindling the need for research, innovation, and investment into developing better therapies for symptom relief and raising patients' quality of life. An example is from the Scottish Health Survey 2022, released by a Scottish Government department in December 2023, which revealed that over one-third (38%) of Scottish adults in 2022 experienced pain or discomfort for three months or longer, with a higher proportion among women (43%) than men (33%). Consequently, the escalating prevalence of chronic pain propels the growth of the neuropathic pain market. Neuropathic Pain Market Driver: Propelling the Neuropathic Pain Market through the Predicted Increase in Diabetes Cases
What Are The Primary Segments In The Global Neuropathic Pain Market?
The neuropathic pain market covered in this report is segmented –
1) By Treatment: Medications, Multimodal Therapy
2) By Diagnosis: Imaging, Blood Tests And Physical Examination
3) By Indication: Diabetic Neuropathy, Spinal Stenosis, Chemotherapy-Induced Peripheral Neuropathy, Other Indications
4) By End User: Hospitals, Clinics, Home Healthcare, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Medications: Anticonvulsants, Antidepressants, Opioids, Topical Treatments, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
2) By Multimodal Therapy: Combination Of Medications, Physical Therapy, Psychological Therapy, Lifestyle Modifications, Complementary Therapies
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How Are Emerging Trends Reshaping The Dynamics Of The Neuropathic Pain Market?
Leading firms in the neuropathic pain market are turning to artificial intelligence to enhance diagnostic processes, personalize treatment strategies, monitor patients in real time, aid in drug discovery, and gain insightful data. As an example, Nevro Corp., a medical device company from the US, introduced the Senza HFX iQ spinal cord stimulation (SCS) system in March 2023. This innovative system utilizes AI to provide pain relief tailored to each patient. The Senza HFX iQ system, including the HFX iQ Implantable Pulse Generator (IPG), HFX Trial Stimulator, Charger, and HFX App, is specifically designed for managing non-surgical back pain and painful diabetic neuropathy. It adapts to patient responses and allows patients to modify their pain control program using a mobile app. The system operates in a digital environment for data collection and potential updates. With an emphasis on constancy and personalization, the technology represents a major progression in SCS treatment.
Who Are the Key Players In The Neuropathic Pain Market?
Major companies operating in the neuropathic pain market are:
• Pfizer Inc.
• Johnson & Johnson Private Limited
• Sanofi S.A.
• Bristol-Myers Squibb Company
• Abbott Laboratories
• GlaxoSmithKline PLC
• Medtronic Inc.
• Eli Lilly and Company
• Stryker Corporation
• Baxter International Inc.
• Teva Pharmaceutical Industries Ltd.
• Boston Scientific Corporation
• Biogen Inc.
• Zimmer Biomet Holdings Inc.
• Sun Pharmaceutical Industries Ltd.
• Mallinckrodt Pharmaceuticals
• Grünenthal GmbH
• Lupin Ltd.
• NuVasive Inc.
• Integer Holdings Corporation
• Avanos Medical Inc.
• Orthofix Medical Inc.
• Nevro Corp.
• InvaGen Pharmaceuticals Inc.
• B. Braun Melsungen AG
• Cirtec Medical Corp.
• Centaur Pharmaceuticals Pvt Ltd.
• Stimwave LLC
• DePuy Synthes.
What Is The Most Dominant Region In The Neuropathic Pain Market?
North America was the largest region in the neuropathic pain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuropathic pain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
