Global Neuropathic Pain Treatment Market 2020-2026

Global Neuropathic Pain Treatment Market Size, Share & Trends Analysis Report, By Indication (Spinal Stenosis, Diabetic Neuropathy, Chemotherapy-Induced Peripheral Neuropathy, and Others), By Treatment (Tricyclic Antidepressants, Anticonvulsants, Opioids, Creams and Patches, Steroids, and Others) and Forecast, 2020-2026
The global neuropathic pain treatment market is estimated to witness significant growth during the forecast period. Some crucial factors driving the market growth include the rising prevalence of diabetes and emerging demand for tricyclic antidepressants for neuropathic pain treatment. As per the International Diabetes Federation (IDF), nearly 463 million adults aged 20-79 years were suffering from diabetes, which is expected to reach 700 million by 2045. The share of the population with type 2 diabetes is rising in several countries. One in five of the people over 65 years old have diabetes. The rising incidence of diabetes has increased the concerns regarding peripheral neuropathy which is nerve damage resulted due to diabetes and high blood sugar.

Peripheral neuropathy is the most common complication of diabetes that eventually develops in 60% to 70% of people with diabetes. Some common medications that are used for the treatment of peripheral diabetic neuropathic pain include pregabalin (Lyrica), desipramine (Norpramin), gabapentin (Gralise, Neurontin), duloxetine (Cymbalta), and imipramine (Tofranil). These medications have some side-effects such as swelling, drowsiness, dizziness, and dry mouth. In addition, skin applied treatments include lidocaine patches (Lidoderm, Lidopain) and capsaicin cream. As per the studies, patches or nitrate sprays for the feet may relieve pain.

Geographically, the global neuropathic pain treatment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2019, North America is expected to witness potential growth owing to the increasing prevalence of spinal stenosis and diabetes and emerging demand for chemotherapy due to the rising cancer incidences in the region. Asia-Pacific is estimated to witness considerable growth during the forecast period owing to the significant prevalence of diabetes and cancer in the region. Additionally, increasing geriatric population base is further anticipated to drive the demand for neuropathic pain treatment in the region.

Some key players in the market include Eli Lilly and Co., Pfizer Inc., Biogen Inc., Grünenthal GmbH, and Assertio Therapeutics, Inc. Mergers and acquisitions, product launches, and partnerships and collaborations are considered as key strategies adopted by the market players to accelerate their market share. For instance, in November 2018, Grünenthal acquired Averitas Pharma, the US-based pharmaceutical company, to widen its commercial footprint in the US. Averitas Pharma will be commercializing Qutenza (8% capsaicin), the pain patch, for Grünenthal in the US. Averitas Pharma has significant expertise in specialty pharma in the US market, which will enable Grünenthal to achieve considerable growth in the field of pain management in the US.

Research Methodology

The market study of the global neuropathic pain treatment market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.

In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Global Neuropathic Pain Treatment Market Research and Analysis by Indication
2. Global Neuropathic Pain Treatment Market Research and Analysis by Treatment

The Report Covers

• Comprehensive research methodology of the global neuropathic pain treatment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global neuropathic pain treatment market.
• Insights about market determinants, which are stimulating the global neuropathic pain treatment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.