Market Size of Neuropathic Pain Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Neuropathic Pain Market Analysis
The neuropathic pain market studied is anticipated to register a CAGR of 5.5% during the forecast period.
- COVID-19 impacted the studied market due to the cancellation of elective procedures, which included the treatment and diagnosis of neuropathic diseases. The manufacturing and distribution of approved and experimental neurological therapeutics were also suspended during the initial phase of the pandemic. Additionally, COVID-19 infections severely affected people's neurological health. For instance, in March 2022, a research study indicated that individuals who had tested positive for COVID-19 in the early months of the pandemic also experienced peripheral neuropathy, including pain, tingling, and numbness in their hands and feet during and after their bouts with COVID-19.
- Hence, owing to the above-mentioned factors, COVID-19 had a significant impact on the market studied. However, with the COVID-19 cases in control, the market is re-gaining its pre-pandemic nature in terms of demand for various drugs. Furthermore, due to the rising prevalence of diabetic neuropathy and other targeted diseases and increasing healthcare expenditure and research funding, the market is believed to witness significant growth over the forecast period.
- According to the International Diabetes Federation (IDF) 2021 report, 537 million adults aged 20 to 79 were living with diabetes in 2021 globally. This number is estimated to reach 643 million by 2030 and 783 million by 2045. Such a high burden of diseases that can lead to neuropathic pain creates the need for therapeutics for the treatment and thus augments the growth of the market.
- Additionally, the approval of the drugs by the regulatory bodies also contributes significantly to the growth of the market. For instance, in March 2022, Daiichi Sankyo Company, Limited received approval in Japan to change the indication of the analgesic 'Tarlige Tablets' (pregabalin besilate) from 'peripheral neuropathic pain' to 'neuropathic pain.' Such approvals expand the availability of neuropathic pain therapeutics, thereby accelerating market growth.
- Therefore, owing to the abovementioned factors, the market is expected to project growth over the forecast period. However, the side effects of treatments and the availability of counterfeit drugs may hinder the growth of the market.
Neuropathic Pain Industry Segmentation
As per the scope, neuropathic pain is caused by damage or disease affecting the somatosensory nervous system. The condition is relatively common but often poorly treated.
The neuropathic pain market is segmented by indication (diabetic neuropathy, spinal stenosis, chemotherapy-induced peripheral neuropathy, and other indications), drug class (tricyclic antidepressants, opioids, capsaicin cream, steroids, and other drug classes), distribution channel (hospital pharmacies, retail pharmacies, and other distribution channels), and geography(North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across significant global regions.
The report offers the value (USD) for the above segments.
| By Indication | |
| Diabetic Neuropathy | |
| Spinal Stenosis | |
| Chemotherapy-induced Peripheral Neuropathy | |
| Other Indications |
| By Drug Class | |
| Tricyclic Antidepressants | |
| Opioids | |
| Capsaicin Cream | |
| Steroids | |
| Other Drug Classes |
| By Distribution Channel | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| Other Distribution Channels |
| Geography | ||||||||
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Neuropathic Pain Market Size Summary
The neuropathic pain market is poised for growth, driven by the increasing prevalence of conditions such as diabetic neuropathy and the rising demand for effective therapeutics. The market experienced disruptions due to the COVID-19 pandemic, which led to the suspension of elective procedures and impacted the manufacturing and distribution of neurological therapeutics. However, as the situation stabilizes, the market is regaining momentum, supported by increased healthcare expenditure and research funding. The approval of new drugs by regulatory bodies further bolsters market expansion, as seen with the reclassification of existing analgesics to broaden their therapeutic applications. Despite challenges such as treatment side effects and the presence of counterfeit drugs, the market is expected to continue its upward trajectory over the forecast period.
The diabetic neuropathy segment is anticipated to witness robust growth, fueled by the high prevalence of diabetes and the launch of new treatment products. Sedentary lifestyles contribute to the rising incidence of diabetes, which in turn increases the risk of neuropathy, particularly in developed countries. Ongoing research and clinical trials, such as those involving cannabidiol-based treatments, are likely to drive further advancements in this segment. North America is expected to maintain a significant market share due to its substantial burden of neuropathic diseases, strong research and development activities, and the presence of key market players. Strategic initiatives, including partnerships and clinical trials, are expected to enhance the development of innovative drugs, thereby propelling market growth in the region. The competitive landscape is characterized by major players like Grünenthal, Mallinckrodt Pharmaceuticals, and Pfizer, who are actively involved in research and development to capture a larger market share.
Neuropathic Pain Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Prevalence of Diabetic Neuropathy and Other Targeted Diseases
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1.2.2 Increasing Healthcare Expenditure and Research Funding
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1.3 Market Restraints
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1.3.1 Side Effects of Treatments and Availability of Counterfeit Drugs
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Indication
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2.1.1 Diabetic Neuropathy
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2.1.2 Spinal Stenosis
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2.1.3 Chemotherapy-induced Peripheral Neuropathy
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2.1.4 Other Indications
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2.2 By Drug Class
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2.2.1 Tricyclic Antidepressants
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2.2.2 Opioids
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2.2.3 Capsaicin Cream
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2.2.4 Steroids
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2.2.5 Other Drug Classes
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2.3 By Distribution Channel
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2.3.1 Hospital Pharmacies
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2.3.2 Retail Pharmacies
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2.3.3 Other Distribution Channels
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Neuropathic Pain Market Size FAQs
What is the current Global Neuropathic Pain Market size?
The Global Neuropathic Pain Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Global Neuropathic Pain Market?
Grünenthal, Mallinckrodt Pharmaceuticals, Pfizer, Inc., Novartis AG and Teva Pharmaceutical Industries Ltd. are the major companies operating in the Global Neuropathic Pain Market.
