Neuropathic Pain Market Size, Share and Trends 2024 to 2034

Neuropathic Pain Market Size and Forecast 2024 to 2034

The global neuropathic pain market size is worth around USD 7.97 billion in 2024 and is expected to hit around USD 16.79 billion by 2034, growing at a CAGR of 7.73% from 2024 to 2034. The growing burden of neuropathic pain among patients suffering from chronic diseases is the key factor driving the neuropathic pain market growth. Also, an increase in demand for neuropathic treatment drugs coupled with the rise in government initiatives can fuel market growth further.

Neuropathic Pain Market Key Takeaways

• North America dominated the global market with the largest market share of 50% in 2023.
• Asia Pacific is anticipated to grow at a significant CAGR during the projected period.
• By drug class, the anticonvulsant segment dominated the market in 2023.
• By drug class, the tricyclic antidepressant (TCA) segment is expected to grow at the fastest CAGR during the forecast period.
• By application, the chemotherapy-induced neuropathy segment led the market in 2023.
• By application, the diabetic neuropathy segment is anticipated to expand at a CAGR from 2024 to 2034.
• By route of administration, the oral segment contributed the highest market share in 2023.
• By route of administration, the parenteral is projected to grow at a significant CAGR during the forecast period.
• By distribution channel, the retail pharmacy segment captured the biggest market share in 2023.
• By distribution channel, the online pharmacy segment is anticipated to grow significantly during the forecast period.

Role of Artificial Intelligence (AI) in Chronic Pain Management

Artificial intelligence is transforming the chronic pain management system by offering new insights into the body's response to chronic pain. Innovative imaging methods like arterial spin labeling (ASL) and functional MRI (fMRI) are increasingly used to navigate the neural response of pain. Furthermore, AI's ability to process complex information provides customized treatment recommendations for pain management solutions.

• In September 2024, Nevro Corp. announced the launch of HFX iQ with HFX AdaptivAI. It also received U.S. Food and Drug Administration (FDA) approval and limited market release of a responsive, individualized pain management platform powering the HFX iQ spinal cord stimulation (SCS) system.

U.S. Neuropathic Pain Market Size and Growth 2024 to 2034

The U.S. neuropathic pain market size is exhibited at USD 2.79 billion in 2024 and is projected to be worth around USD 5.92 billion by 2034, growing at a CAGR of 7.80% from 2024 to 2034.

North America dominated the global neuropathic pain market in 2023. The region's dominance can be attributed to the strong presence of major market players like Azurity, Almatica, Viatrsi Inc., etc. The region also witnesses the high prevalence of cancer and other chronic diseases like diabetes, which leads to neuropathy pain. Strategic initiatives, new product launches, and collaborations also contributed to the market expansion in the region.

Asia Pacific is anticipated to grow at a significant rate in the neuropathic pain market over the projected period. The growth of the region can be driven by an increase in clinical trial activities coupled with a surge in research and development followed by innovative product launches in emerging economies such as India and China. Furthermore, the increasing awareness regarding the effective therapeutics that control pain effectively can raise the demand for neuropathic pain treatment drugs in the region.

• In July 2022, Novaremed AG and NeuroFront Therapeutics entered an exclusive partnership for Novaremed's non-opioid investigational drug, NRD.E1, for diabetes-associated and other neuropathic pain indications. 

Market Overview

The neuropathic pain market is an industry for products and services associated with the treatment of neuropathic pain, a chronic condition that can occur due to disease or damage to the nervous system. Common symptoms of this pain are numbness, feelings of coldness or burning, needles, and pins., anticonvulsants, Opioids, antidepressants, and Capsaicin are some of the most common types of medications used to control neuropathic pain.

Neuropathic Pain Market Growth Factors

• Increasing awareness among medical professionals and patients regarding neuropathic pain is expected to boost neuropathic pain market growth shortly.
• The increasing of chronic pain conditions across the globe can propel market growth further.
• The surge in the global burden of patients suffering from trigeminal neuralgia, HIV, and fibromyalgia will likely contribute to market expansion soon.

Market Scope

Market Dynamics

Driver

Increasing shift toward patient-centric care

The rising shift towards more individualized medication in the neuropathic pain market fuels specialized treatment approaches. Healthcare providers are prioritizing the patient's preferences and need to develop holistic and more effective strategies. In addition, the increasing focus on detailed chronic pain management programs optimizes holistic interventions and interdisciplinary approaches.

• In October 2024, MIRA Pharmaceuticals announced that its novel oral ketamine analog, Ketamir-2, outperforms FDA-approved neuropathic pain treatments Pregabalin and Gabapentin in preclinical studies.

Restraint

Side effects of treatment

Side effects associated with traditional neuropathic pain treatments like opioids and other antidepressants hinder the growth of the neuropathic pain market. Patients' unwillingness to follow this line of treatment due to its potential adverse reactions impacts the overall expansion of the market. However, this approach constrained the flow of investment in this line of treatment and boosted demand for safer therapeutic alternatives.

Opportunity

The development of topical patches

The development of topical patches is the new trend in the neuropathic pain market. The topical patches provide a multimodal approach to neuropathic pain management with less absorption and an enhanced safety profile compared to traditional solutions. Furthermore, Researchers have discovered numerous solutions for topical use, such as capsaicin, anti-inflammatory drugs, tricyclic antidepressants, and ketamine, which can be utilized in combination with other drugs.

• In October 2024, Tonik launched its transdermal patches formulated with homeopathic formulations for sleep and stress relief into more Asian markets while also preparing to unveil four new SKUs in the next six months.

Drug Class Insights

The anticonvulsant segment dominated the neuropathic pain market in 2023. This dominance can be attributed to the growing demand for innovative pain management solutions for diabetic neuropathy coupled with the easy availability of anticonvulsant drugs like Horizant, Gralise, Lyrica, etc. Additionally, this drug can also treat conditions such as migraine, anxiety, fibromyalgia, and restless leg syndrome.

• In March 2024, the Epilepsy Foundation announced a collaboration with Iaso Ventures, a prominent venture capital firm, to establish the Iaso NeuroImpact Fund. This advanced fund serves as a cornerstone for advancing the development of pioneering therapeutics.

The tricyclic antidepressant (TCA) segment is expected to grow at the fastest rate in the neuropathic pain market over the forecast period. The growth of the segment can be linked to the increasing consumption of this drug in the treatment of chronic pain, insomnia, bedwetting, and anxiety disorders. However, TCA has some side effects such as urinary retention and cardiac arrhythmias. Some commonly prescribed TCAs are imipramine, desipramine, amitriptyline, and doxepin.

Application Insights

The chemotherapy-induced neuropathy segment led the neuropathic pain market in 2023. The dominance of the segment can be credited to the increasing prevalence of cancer across the globe, which leads to a surge in the amount of patients undergoing chemotherapy treatment. Also, more healthcare professionals prefer chemotherapy treatments as the first line of action to cure cancer and related diseases.

The diabetic neuropathy segment is anticipated to grow at the fastest rate in the neuropathic pain market over the projected period. This growth can be driven by the rising focus of biotechnology and pharmaceutical companies on the development of reliable and more effective therapeutics. Furthermore, this neuropathy pain can be controlled with topical treatments and a combination of different medications.

• In January 2024, Neuralace Medical, Inc., an innovator in pain management technology, announces the FDA clearance of its groundbreaking product, axon therapy (PNS), for the treatment of chronic painful diabetic neuropathy (PDN).

Route of Administration Insights

The oral segment dominated the global neuropathic pain market in 2023. The dominance of the segment is due to the increasing availability of a number of oral therapeutics for effective pain management such as Pregabalin, Amitriptyline, Gabapentin, and Tramadol-acetaminophen. The oral route of administration is the most convenient way to take these drugs, which have the least side effects when administered orally.

The parenteral segment is expected to show the fastest growth in the neuropathic pain market during the forecast period. The growth of the segment is driven by the growing emphasis of the biopharmaceutical and pharmaceutical industries on the research and development of effective therapeutics. Parenteral drugs such as ceftriaxone and lidocaine are primarily used to treat neuropathic pain. These drugs work by blocking the pain sensory receptors in the body.

Distribution Channel Insights

The retail pharmacy segment led the global neuropathic pain market. The dominance of the segment is linked to the escalating need for topical nerve pain medicines like AneCream5 and Elavil, which are available easily in retail pharmacies. Furthermore, retail pharmacies offer a wide range of analgesic drugs to treat the neuropathy pain prescribed by medical professionals.

The online pharmacy segment is estimated to grow at the fastest rate in the neuropathic pain market over the projected period. The growth of the segment can be credited to the growing availability of off-label drugs and prescriptions on online pharmacy channels. In addition, the growing preference for patients to purchase products easily without visiting the pharmacy stores is also contributing to the segment's growth further.

Neuropathic Pain Market Companies

• Nevro Corp (U.S.)
• Lilly (U.S.)
• Astellas Pharma Inc. (Japan)
• Biogen (U.S.)
• Cirtec (U.S.)
• Integer Holdings Corporation (U.S.)
• B. Braun SE (Germany)
• Medtronic (Ireland)
• Abbott (U.S.)
• Boston Scientific Corporation (U.S.)
• OMRON Healthcare Co., Ltd. (Japan)
• ElectroCore, Inc. (U.S.)
• Polar Medical Ltd (U.K.)
• SunMED Medical (U.S.)
• NeuroMetrix, Inc. (U.S.)

Latest Announcement by Market Leaders

• In June 2024, Abbott announced the U.S. Food and Drug Administration (FDA) clearance for two new over-the-counter continuous glucose monitoring (CGM) systems, Lingo™ and Libre, Rio™.which are based on Abbott's leading FreeStyle Libre® continuous glucose monitoring technology.
• In November 2024, Boston Scientific Corporation announced that it has entered into a definitive agreement to acquire Intera Oncology® Inc., a privately held medical device company that offers the Intera 3000 Hepatic Artery Infusion Pump and floxuridin.

Recent Developments

• In May 2024, May 2024: Lexicon Pharmaceuticals Inc. chose Medidata, a Dassault Systèmes company, to propel its PROGRESS initiative. PROGRESS is a Phase 2b study of LX9211 aimed at treating diabetic peripheral neuropathic pain (DPNP).
• In September 2022, AlgoTx announced a phase 2 clinical trial for ATX01, a topical amitriptyline addressing chemotherapy-induced peripheral neuropathy (CIPN). Across 40 U.S. and European centers, the trial evaluates ATX01's efficacy for adults with CIPN, shaping the neuropathic pain market's growth.

Segment Covered in the Report

By Drug Class

• Anticonvulsant
• Tricyclic Antidepressants
• Opioids
• Capsaicin 
• Steroids
• Others

By Application

• Diabetic Neuropathy
• Spinal Stenosis
• Chemotherapy-Induced
• Peripheral Neuropathy
• Others

By Route of Administration

• Oral 
• Parenteral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Others

By Geography

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