Neuropathic Pain Market - Drug Class (Tricyclic Antidepressants, Opioids, Capsaicin Cream, Steroids, and Others), Indication (Diabetic Neuropathy, Spinal Stenosis, and Chemotherapy-induced Peripheral Neuropathy), and Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Neuropathic Pain Market held USD 6654.3 million in 2020 and is to grow with a CAGR of 5.4% from 2020-2030. The neuropathic pain market is expected to offer exciting growth opportunities for R&D among players. For example, in May 2020, researchers from the Hamburg-Ependerf University Medical Center and other leading universities in Germany reported that fiber C deficiency can cause neuropathic pain in schizophrenia, a form of neurofibromatosis caused by multiple squamous cells. It develops from canine cells. Furthermore, the adoption of nanoparticles in therapy also leads to growth in the global neuropathic pain market. Neuropathic pain is pain by defect in the somatosensory nervous system. This pain is associated with an abnormal sensation called dysesthesia or pain caused by a generally painless stimulus. May contain persistent and episodic components. The latter sounds like a stab or an electric shock. It often damages the nervous system or causes defects in the nervous system. The effect of nerve damage can be a change in nerve function both at the site of injury and in the surrounding area. An example of neuropathic pain is called Phantom Limb Syndrome, which is a rare condition. It occurs when the arms or legs are removed due to illness or injury, but the brain still receives pain messages from the nerves that carry impulses from the missing limb. This nerve fills up incorrectly and causes pain.

Market Dynamics and Factors:

Major driving factors for the market are increased government spending on the healthcare and medical sector, growing drugs production in Asian regions. According to the World Health Organization (WHO), 422 million people had diabetes in 2014, and this number will continue to grow in the near future, especially in middle and low-income countries. This large population is the main driver of the global neuropathic pain market. Growth in geriatric population, which often suffers from neuropathic pain, is another driver of this market. In addition, factors such as the approval of new treatment options, the increased demand for neuropathic pain, the improvement in healthcare infrastructure in emerging countries and the increased investment by pharmaceutical companies in the USA, improved drug research and development, and the growing number of pain treatment centers will continue to drive the market in a positive direction. Conversely, various side effects of steroids and the cost of branded drugs will restrain the market growth to certain extent.

Market Segmentation:

Based on the drug class, the neuropathic pain market trends include tricyclic antidepressants, opioids, capsaicin cream, steroids, and others. Based on indication neuropathic pain market size is segmented into diabetic neuropathy, spinal stenosis, and chemotherapy-induced peripheral neuropathy. By distribution channel, market segmentation includes retail pharmacies, hospital pharmacies, online pharmacies. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America dominates the neuropathic pain market share with the large demand owing to advanced healthcare infrastructure and the growing expenditure of research activities in this region. Asia Pacific neuropathic pain market demand is also growing at a fast pace and expected to dominate in the future. Due to the growing demand for neuropathic pain drugs as well as robust distribution network, neuropathic pain market size will grow to a greater extent.

Competitive Scenario:

Global neuropathic pain market, is highly competitive and focusing on creating awareness regarding the neuropathic pain industry. Key companies are also expanding their manufacturing facilities to cater to growing demand for this drug globally. Key players enhancing the global Neuropathic Pain market size include Baxter Healthcare Corporation, Johnson & Johnson Services Inc., Sanofi S.A, Eli Lilly and Company, Biogen Inc., Pfizer, Inc., Abbott Laboratories, Astellas Pharma Inc., AstraZeneca, and GlaxoSmithKline Plc.

Neuropathic Pain Market Report Scope