Neuropathic Pain Market

Neuropathic Pain Market Outlook (2023 to 2033)

The Global revenue from the Neuropathic Pain Market was about US$ 7.62 Billion in 2022, with the global market expected to grow at a CAGR of 5.9% to reach a valuation of about US$ 14.34 Billion by the end of 2033.

As assessed by Persistence Market Research, tricyclic anti-depressants held a market share of around 31.8% in the global market, in 2022. The global neuropathic pain market holds nearly 9.6% revenue share of the global pain management market valued at US$ 79.4 Billion in 2022.

Sales Analysis of Market from 2013 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 5.4% in the last 9 years from 2013 to 2022.

The process that follows an initial injury or illness of the somatosensory nervous system is known as neuropathic pain. The aetiology or anatomic localization of this syndrome, which is the outcome of numerous different pathogenic causes, is typically used to define it.

Neuropathic pain is characterized by hyperalgesia, an abnormal susceptibility to stimulation, and nociceptors’ responses to non-noxious stimuli (allodynia). The physiological and pathophysiological conditions that cause the emergence of neuropathic pain might include everything from autoimmune diseases that affect the central nervous system to virally-induced neuropathy (CNS).

According to Neuropathic Pain in Neurologic Disorders: A Narrative Review by Mitsikostas D, Moka E, Orrillo E, et al. published on February 20, 2022. Cureus, neuropathic pain affects between 3% and 17% of the general population. The majority of neuropathic pain medications on the market are only moderately effective and have drawbacks that prevent widespread use.

The global market is likely to show high growth over the coming years at a CAGR of 5.9% and reach a global market size of US$ 14.34 Billion by 2033.

How Can the Global Market Grow?

“Rising prevalence of diabetic patients and increasing problem of cancer worldwide are driving the market.”

There are many signs of neuropathic pain, but the most typical sign is diabetic neuropathy. Leg, foot, and hand pain and numbness are signs of diabetic neuropathy. Consequently, it may lead to problems with the heart, blood vessels, digestive system, and urinary tract.

International Diabetes Federation 2022 estimates that diabetes is the cause of 6.7 million fatalities in 2021, or one every five seconds. Similarly, 1 in 10 individuals (20-79 years old) has diabetes, which affects 537 million people. By 2030, this figure is anticipated to touch 643 million, and by 2045, it will reach 783 million. As a result of the rise in neuropathic pain incidences brought on by the rising number of diabetes patients, there will be greater demand for neuropathic pain.

Due to the side effects of numerous oncology medications, neuropathic pain is commonly acknowledged as a consequence of cancer. Chemotherapy for cancer also raises the chance of developing neuropathic pain. Chemotherapy-induced neuropathy affects not just a patient's daily activities but also their prognosis due to the ensuing treatment delays and dose decreases. According to the World Health Organization, cancer is the primary cause of death for roughly 10 million people worldwide in 2020 or one in every six fatalities. The prevalence of chemotherapy-induced neuropathy would rise due to the rising incidence of cancer worldwide, which is anticipated to boost the market for neuropathic pain therapies.

Leading pharmaceutical companies are concentrating on creating better pain management. Similarly to this, only a few producers are fully committed to the creation of diabetic neuropathy medications with negligible adverse effects.

Due to the rising prevalence of illnesses associated with pain, there has been an increase in the number of pain management centres globally during the past few decades. Due to higher healthcare spending and per capita income, developing nations like China and India have improved their healthcare infrastructure.

Thus, it is anticipated that the expansion of the neuropathic pain market would be aided by an increase in the number of pain management centres and increasing investment in research & development.

“Availability of approved drugs and ease restrictions on prescription with new guidelines is expected to raise the opportunities for the market.”

For the management of neuropathic pain, there are many approved medications on the market. Painkillers like Lyrica by Pfizer, Topamax by Johnson & Johnson, and Lamotrigine by GSK are examples of approved drugs used to treat neuropathic pain. The majority of patients use these medications to treat neuropathic pain. These pharmaceutical firms are well-established internationally, allowing them to market and distribute their products anywhere.

Similarly to this, the government Centers for Disease Control and Prevention said last month that they will be releasing new regulations in April 2022 that would loosen restrictions on prescription opioids. The suggested improvements are intended to improve access to opioid medicines for the millions of Americans who suffer from unbearable and persistent pain.

Consequently, the availability of a large number of approved drugs and the new favorable guidelines for the treatment of neuropathic pain has created tremendous opportunities for the growth of the market.

Can the Market Growth Be Affected in Any Way?

“Severe adverse effects and high cost associated with the pain management medication may hamper the market growth”

Anticonvulsants and tricyclic antidepressants are the first-line treatments for neuropathic pain. These medications may provide patients with momentary respite from neuropathic pain.

However, there are several negative effects associated with these medications, including headache, weight gain, nausea, skin rashes, or diarrhea. Typically, these symptoms are transient and minor. After taking antidepressants, some patients may experience daytime sleepiness, which might interfere with their regular schedule.

Similarly, branded medications for neuropathic pain treatment are quite expensive. The patients in developing areas cannot acquire them. Patients prefer generic medicines in underdeveloped nations, which is anticipated to lower the rate of branded medication adoption in the neuropathic pain market.

Hence, above mentioned reasons will be restraints for the global neuropathic pain market.

Country–wise Insights

Why is the United States Market Booming?

"Increased diabetic population in the country supports market expansion"

The United States accounted for around 31.6% market share in the global market in 2022.

The Centers for Disease Control and Prevention (CDC) estimates that in 2019, there will be 28.7 million Americans who have diabetes mellitus, or 8.7% of the entire United States population. Peripheral neuropathy, which affects between 6% and 51% of adults depending on age, glucose control, length of the disease, and type of diabetes, is one of the most prevalent and crippling complications of the condition. Hence, the rising prevalence of diabetic peripheral neuropathy may aid the neuropathic pain market.

How is Germany Emerging as a Prominent Market?

“Rising geriatric population in the country may aid the neuropathic pain market.”

Germany held a market share of about 6.7% of the global market in 2022.

The percentage of adults 65 and older is increasing as a result of rising life expectancy and falling fertility rates. About, one in five Germans were over 65 as of 2017, and by 2050, this number is expected to increase to one in three. The prevalence of chronic illnesses (CDs) is expected to rise as the population ages, as age is a known non-modifiable risk factor for many of these diseases.

As a result, the demand for neuropathic pain is high in the country.

Will the United Kingdom Be a Lucrative Market for Neuropathic Pain Management?

“Growing neuropathic pain associated with cancer is driving the market in the country. “

The United Kingdom market held around 5.7% market share of the neuropathic pain market in 2022.

According to Macmillan Cancer Support, if a tumour is developing next to a nerve and presses on it, cancer can result in peripheral neuropathy in part of the body. In the United Kingdom, 391,000 people were given a cancer diagnosis in 2019. According to the data published by Macmillan Cancer Support, a cancer diagnosis occurs in the United Kingdom every 90 seconds on average. Thus, the damage to peripheral neuropathy brought on by cancer or by its treatment improves the management of neuropathic pain.

Category–wise Insights

Which Drug Class is Driving Demand within the Global Market?

“Rising rates of depression to raise the demand for tricyclic anti-depressants.”

The tricyclic anti-depressants held around 31.8% share of the total market in 2022.

According to a research brief published by the World Health Organization, the prevalence of depression and stress increased dramatically worldwide by 25% during the COVID-19 pandemic (WHO, 2022). Therefore, the category is anticipated to grow at a significant rate over the projection period due to high-stress conditions brought on by several socioeconomic factors and considerable expenditure ability within this range.

Which Indication is Largely Adopted within the Global Market?

“Rising Prevalence of Diabetes”

The Diabetic Neuropathy segment held around 34.7% share of the total market in 2022.

The global market for diabetic neuropathy is expanding at a faster rate due to the rising prevalence of diabetes.

Worldwide, there are thought to be 463 million diabetics, as per International Diabetic Federation 2021. South East Asia is home to 88 million diabetics, 77 million of whom reside in India. Almost 50% of diabetes individuals suffer from the condition known as diabetic neuropathy.

Thus, the rising incidence of diabetes patients may result in neuropathic pain which consequently promotes the neuropathic pain market.

Which Distribution Channel is Widely Adopted for Neuropathic Pain Management Products?

“To increase production reach and the businesses, there is more adoption towards retail pharmacies”

Retail pharmacies held around 49.9% share of the total market in 2022.

A robust grid of retail pharmacies and the high demand for over-the-counter medications in 2022 led to retail pharmacies dominating the distribution channel segment. However, due to the rise in e-pharmacy websites, online pharmacies are anticipated to expand at a quicker rate over the anticipated timeframe.

Competition Landscape

Companies in the industry are investing in the research and development of innovative drugs, and the manufacturers emphasize on to bring differentiated high-quality, and needed healthcare products to as many people as possible. Also, some manufacturers are expanding their market through mergers, acquisitions, and making partnerships with other global leaders.

Some key instances of development include:

• Pfizer announced the acquisition of Array Pharma on March 7, 2019. On July 1, 2019, the organization finalized the acquisition of Therachon, a private biotech company limited at the clinical stage. For Lyrica, the business was granted six months of pediatric exclusivity (pregabalin).
• Johnson and Johnson announced the complete merger of Auris Health, Inc. on April 1, 2019. The business inaugurated a new Asia Pacific headquarters in Singapore on May 10, 2018.

Neuropathic Pain Management Industry Report Scope

Key Segments Covered in Neuropathic Pain Management Industry Research

Drug Class:

• Tricyclic Anti-Depressants
• Anticonvulsants
• SNRI's
• Capsacin Cream
• Local Anaesthesia
• Opioids
• Steroids
• Others

Indication:

• Diabetic Neuropathy
• Trigeminal Neuralgia
• Post-Herpetic Neuralgia
• Chemotherapy-Induced Peripheral Neuropathy
• Others

Distribution Channel:

• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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