Neuropathy Pain Treatment Market size is set to grow by USD 5.84 billion from 2024-2028, Presence of large patient pool of neuropathy pain boost the market, Technavio

NEW YORK, June 12, 2024 /PRNewswire/ — The global neuropathy pain treatment market size is estimated to grow by USD 5.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.96%  during the forecast period. Presence of large patient pool of neuropathy pain is driving market growth, with a trend towards development of topical patches for neuropathy pain treatment changing market dynamics. However, high cost of neuropathy pain treatment  poses a challenge. Key market players include Abbott Laboratories, Alfasigma Spa, Astellas Pharma Inc., AstraZeneca Plc, Baxter International Inc., Biogen Inc., Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, GlaxoSmithKline Plc, Johnson and Johnson, Mallinckrodt Plc, Neuracle Lifesciences Pvt. Ltd., Pfizer Inc., Sanofi, Sun Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Inc., and VistaGen Therapeutics Inc..

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Market Driver

The neuropathy pain treatment market is experiencing growth due to the development of topical patches for chronic pain. These treatments offer a safer and more compliant alternative to traditional systemic options. Medications like anti-inflammatory drugs, capsaicin, local anesthetics, tricyclic antidepressants, ketamine, and gabapentin are being used in topical patches. For instance, 5% topical lidocaine has shown success in treating diabetic neuropathy, with a favorable response rate similar to oral pregabalin. Companies, such as TheraVasc with its drug candidate TV1001SR, are entering this market, leading to increased revenues and market expansion. 

The Neuropathy Pain Treatment market is experiencing significant growth due to the increasing prevalence of diseases causing neuropathic pain. Diabetes and chemotherapy are common causes of neuropathy. The market comprises drugs like gabapentin, pregabalin, and amitriptyline for pain management. Newer treatments include capsaicin, topical lidocaine, and opioids. The market also includes devices such as Transcutaneous Electrical Nerve Stimulation (TENS) units and Spinal Cord Stimulation (SCS) systems.

The use of oncology medications and antiviral drugs for neuropathy treatment is a trending development. Guidelines for effective pain management in neuropathy are essential for better patient outcomes. The market is expected to continue growing due to the high unmet medical need and the development of new treatments. 

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Market Challenges

• The diabetic neuropathy market for pain treatment faces significant challenges due to high drug costs. In the US, annual expenses for diabetic peripheral neuropathy and related complications range from USD4.6 billion to USD13.7 billion. Only a few approved drugs, such as Pregabalin, Gabapentin, and Duloxetine, are available for symptomatic treatment.
• Their monthly costs range from USD119.98 for Venlafaxine to USD189.98 for Pregabalin. Affordability issues persist, especially for patients requiring overall diabetic neuropathy management. The high cost of these drugs may hinder market growth during the forecast period.
• The Neuropathy Pain Treatment Market faces several challenges in providing effective solutions for patients. Drugs such as Hospital, Geriatric, Receptics, Therapeutics, and Antidepressants are commonly used.
• However, the lack of specific treatments for different types of neuropathy, like Diabetic Neuropathy and Chemotherapy-induced Neuropathy, poses a significant challenge. Additionally, the need for long-term management and the side effects of current treatments contribute to the complexity of the market.
• Proper identification and diagnosis of neuropathy types are crucial to developing targeted therapies. Furthermore, the high cost of treatment and limited reimbursement options create barriers for patient access. The market requires innovative approaches to address these challenges and improve patient outcomes.

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Segment Overview 

1. Indication 

• 1.1 Diabetic neuropathy
• 1.2 Chemotherapy-induced neuropathy pain
• 1.3 Postherpetic neuralgia
• 1.4 Others

Distribution Channel

• 2.1 Retail pharmacies
• 2.2 Hospital pharmacies
• 2.3 Online pharmacies

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Diabetic neuropathy-  The diabetic neuropathy market caters to the treatment of nerve damage in diabetic patients. Diabetic neuropathy causes nerve damage, affecting signal transmission and decreasing nerve action potential. Approximately 60%-70% of diabetic patients develop neuropathy, with many remaining undiagnosed. Current treatments, such as Cymbalta (Eli Lilly), LYRICA (Pfizer), and NUCYNTA ER (Assertio Therapeutics), offer symptomatic relief. However, the demand for disease-modifying treatments that prevent or slow nerve damage progression is increasing. Vendors are investing in R&D to address this need, driving market growth during the forecast period.

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Research Analysis

The neuropathy pain treatment market is evolving, with anticonvulsants playing a pivotal role in addressing conditions like diabetic neuropathy. Retail pharmacies and drug stores are essential distribution channels for these therapies. Pain management devices, interventional spine devices, and neurostimulation devices are integral to comprehensive treatment approaches.

Extensive research by the World Health Organization, NIH, PubMed, Biogen, and Springer informs market projections and sales analyses. Contributions from Baxter Healthcare, Senzer Pharmaceuticals, and developers of tricyclic antidepressants further propel advancements in managing neuropathic pain, including symptoms such as hyperalgesia.

Market Research Overview

The Neuropathy Pain Treatment Market is rapidly expanding, driven by rising prevalence in chronic conditions like diabetes. This market includes pharmacological therapies such as antidepressants, anticonvulsants, and analgesics, complemented by alternative treatments like acupuncture, TENS, and physical therapy.

Key segments include Pain Management Devices, Interventional Spine Devices, and Neurostimulation Devices, which are essential in symptomatic management. These advanced interventions aim to alleviate pain and enhance the quality of life for patients, reflecting the growing demand for comprehensive neuropathy pain solutions in the healthcare sector.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Indication
• Diabetic Neuropathy
• Chemotherapy-induced Neuropathy Pain
• Postherpetic Neuralgia
• Others
• Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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