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This report segments the neuropathy pain treatment market by indication (diabetic neuropathy, chemotherapy-induced neuropathy pain, postherpetic neuralgia, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa)
NEW YORK, Oct. 4, 2022 /PRNewswire/ — One of the key trends in the neuropathy pain treatment market growth is the growing focus on emerging economies. Research institutes and vendors are focusing on tapping potential treatments in emerging economies, which will bring substantial growth opportunities. The increasing number of individuals requiring pain treatment has increased the demand for neuropathy pain treatment in countries such as China, India, and Brazil. Research institutes have also issued guidelines to address unmet needs in the treatment of pain. For instance, in APAC, a group of pain specialists has created tailored guidelines for each region. In addition, vendors are establishing new units in emerging economies such as Brazil to expand their presence in the market. Such initiatives will drive market growth during the forecast period.
The global neuropathy pain treatment market size is expected to grow by USD 3.81 billion between 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 9.18%, according to Technavio’s latest market report.
Get a comprehensive report summary that describes the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Neuropathy Pain Treatment Market: Market Segmentation
By indication, the diabetic neuropathy segment will be the largest contributor to market growth during the forecast period. Most of the currently approved therapies provide only symptomatic relief. Hence, there is a need for disease-modifying treatments that might slow, prevent, or reverse the progression of nerve damage. Vendors are extensively focusing on R&D activities to address this unmet medical need. For instance, in January 2019, Daiichi Sankyo Company received marketing approval in Japan for the Tarlige drug for the treatment of peripheral neuropathic pain.
In terms of geography, North America will present significant opportunities for market vendors due to the factors such as the growing prevalence of diabetes. The region will account for 33% of the market’s growth during the forecast period. Moreover, market growth in this region will be faster than the growth of the market in other regions. The US and Canada are the key countries for the neuropathy pain treatment market in North America.
Neuropathy Pain Treatment Market: Major Growth Drivers
The focus on the development of novel therapeutics for postherpetic neuralgia is driving the neuropathy pain treatment market growth. Postherpetic neuralgia is a complication of shingles caused by the chickenpox virus. There are various drugs for the treatment of postherpetic neuralgia. However, the lack of effective therapeutics has negatively impacted the adoption rates. Therefore, vendors are focusing on the development of potential alternatives. Currently, there are around nine molecules for the treatment of postherpetic neuralgia in different stages of development. Such developments will fuel the growth of the global neuropathy pain treatment market growth during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report
Neuropathy Pain Treatment Market: Key Vendors
Abbott Laboratories, Assertio Therapeutics Inc., Astellas Pharma Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Baxter International Inc., Biogen Inc., Bristol Myers Squibb Co., Dr. Reddys Laboratories Ltd, Eli Lilly, and Co., Endo International Plc, GlaxoSmithKline Plc, Johnson and Johnson, Mallinckrodt Plc, Novartis AG, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd, VistaGen Therapeutics Inc., among others, are the main players in the market.
Neuropathy Pain Treatment Market: Reasons to Buy Our Report
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Neuropathy Pain Treatment Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 9.18%
Market growth 2022-2026
USD 3.81 billion
Market structure
Fragmented
YoY growth (%)
11.03
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 33%
Key consumer countries
US, Canada, India, Germany, and UK
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Abbott Laboratories, Assertio Therapeutics Inc., Astellas Pharma Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Baxter International Inc., Biogen Inc., Bristol Myers Squibb Co., Dr Reddys Laboratories Ltd, Eli Lilly and Co., Endo International Plc, GlaxoSmithKline Plc, Johnson and Johnson, Mallinckrodt Plc, Novartis AG, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd, and VistaGen Therapeutics Inc.
Market Dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Indication
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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