Neuropathic Pain Market Revenue to Attain USD 15.58 Bn by 2033

06 Dec 2024

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Table of Content

1. Neuropathic Pain Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Neuropathic Pain Market 4. Neuropathic Pain Market Trends 5. Regional Outlook 6. Neuropathic Pain Market Coverage 7. Market News

Neuropathic Pain Market Revenue and Trends 2023 to 2033

The global neuropathic pain market revenue surpassed USD 7.97 billion in 2024 and is predicted to attain around USD 15.58 billion by 2033, growing at a CAGR of 7.73%. The demand for the neuropathic pain market is increasing due to the surge in the aging population across the globe.

Market Overview

The neuropathic pain market is the industry for products and services related to the treatment of neuropathic pain, a major condition that can be caused by certain diseases or damage to the nervous system. Common symptoms of this pain are feelings of coldness or burning, numbness, needles, and pins. Medications such as anticonvulsants, Opioids, antidepressants, and capsaicin are mostly used to control neuropathic pain.

Report Highlights of the Neuropathic Pain Market

• By drug class, the anticonvulsant segment dominated the market in 2023. The dominance of the segment can be attributed to the growing demand for innovative pain management solutions.
• By drug class, the tricyclic antidepressant (TCA) segment is expected to grow at the fastest rate in the market over the forecast period. The growth of the segment can be linked to the rising consumption of this drug in the treatment of chronic pain.
• By route of administration, the oral segment dominated the global market in 2023. The dominance of the segment is due to the increasing availability of several oral therapeutics for effective pain management.
• By route of administration, the parenteral segment is expected to show the fastest growth in the market during the forecast period. The growth of the segment is driven by the growing emphasis of the biopharmaceutical and pharmaceutical industry on R&D.
• By application, the chemotherapy-induced neuropathy segment led the market in 2023. The dominance of the segment can be credited to the increasing prevalence of cancer across the globe.
• By application, the diabetic neuropathy segment is anticipated to grow at the fastest rate in the market over the projected period. The growth of the segment can be driven by the increasing focus of biotechnology and pharmaceutical companies on the development of reliable therapeutics.
• By distribution channel, in 2023, the retail pharmacy segment led the global market. The dominance of the segment is linked to the escalating need for topical nerve pain medicines.
• By distribution channel, the online pharmacy segment is estimated to grow at the fastest rate in the market over the projected period. The growth of the segment can be credited to the increasing availability of off-label drugs and prescriptions on online pharmacy channels.

Neuropathic Pain Market Trends

Increasing chronic pain management programs

The growing focus on chronic pain management programs is transforming the neuropathic pain market. Group therapy, psychotherapy, and cognitive-behavioral training can help individuals to change their thinking and behavioral patterns. Additionally, physical therapy can enhance physical movement, while mental therapies can help to improve day-to-day tasks. These pain management programs can take place at a hospital or in the community.

• In October 2023, Anglo-French Drugs & Industries unveiled the AFD-NP, a groundbreaking medicine created to treat neuropathic pain. The combination of Nortriptyline and Pregabalin is highly advisable for the treatment of moderate to severe Neuropathic Pain.

Ongoing government initiatives

Supportive government initiatives and sophisticated approval processes for pain management boost R&D investment and innovation in the neuropathic pain market. This also encourages pharma companies to develop new and more effective therapies, further fueling market growth. Moreover, growth in the geriatric population globally directly leads to the occurrence of chronic conditions such as neuropathy.

Increasing cases of diabetics

The cases of diabetes among the majority of the population are rising due to risk factors such as smoking, having high cholesterol levels, and being overweight. This directly leads to a rise in the requirement for neuropathic pain management devices via a surge in diabetic patients. Furthermore, there are chronic pain management programs to treat neuropathic pain caused by diabetes.

Regional Outlook

North America dominated the global neuropathic pain market in 2023. The region's dominance can be attributed to the presence of key market players such as Azurity and Viatrsi Inc. North America also has a high incidence of cancer and other chronic diseases like diabetes. New product launches, strategic initiatives, and collaborations among research institutes are prevalent in the region.

Asia Pacific is anticipated to grow at a significant rate in the neuropathic pain market over the projected period. The region's growth can be credited to a surge in clinical trial activities and research and development initiatives in developing economies such as India and China. Furthermore, the growing awareness regarding effective therapeutics that manage pain can increase the demand for neuropathic pain drugs.

Neuropathic Pain Market Coverage

Market News

• In February 2024, Abbott won FDA approval for a novel neuromodulation device meant to alleviate persistent neuropathic pain in patients. The device uses sophisticated stimulation technologies to target neural circuits more accurately.
• In January 2024, Sanofi announced the launch of NeuroSan, a new neuropathic pain medicine. The medicine aims to target specific pain circuits and is believed to have more efficiency and fewer negative effects than current treatment.

Market Segmentation

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

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