Neuropathy Pain Treatment Market Size to Grow by USD 3.81 Bn, Growing Focus on Emerging Economies to be a Key Trend – Technavio – Yahoo Finance
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.
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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
CAGR of the market during 2022-2026
Detailed information on factors that will help the neuropathy pain treatment market grow during the next five years
Approximation of the neuropathy pain treatment market size and its contribution to the parent market
Forecasts on upcoming trends and changes in consumer behavior
The growth of the neuropathy pain treatment market across North America, Europe, APAC, South America, and Middle East and Africa
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of neuropathy pain treatment market vendors
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Neuropathy Pain Treatment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.18%
Market growth 2022-2026
USD 3.81 billion
YoY growth (%)
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
Leading companies, competitive strategies, consumer engagement scope
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.
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.
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Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Indication
5.1 Market segments
5.2 Comparison by Indication
5.3 Diabetic neuropathy – Market size and forecast 2021-2026
5.4 Chemotherapy-induced neuropathy pain – Market size and forecast 2021-2026
5.5 Postherpetic neuralgia – Market size and forecast 2021-2026
5.6 Others – Market size and forecast 2021-2026
5.7 Market opportunity by Indication
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 North America – Market size and forecast 2021-2026
7.4 Europe – Market size and forecast 2021-2026
7.5 APAC – Market size and forecast 2021-2026
7.6 South America – Market size and forecast 2021-2026
7.7 Middle East and Africa – Market size and forecast 2021-2026
7.8 US – Market size and forecast 2021-2026
7.9 Germany – Market size and forecast 2021-2026
7.10 UK – Market size and forecast 2021-2026
7.11 Canada – Market size and forecast 2021-2026
7.12 India – Market size and forecast 2021-2026
7.13 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Abbott Laboratories
10.4 Assertio Therapeutics Inc.
10.5 AstraZeneca Plc
10.6 Baxter International Inc.
10.7 Dr Reddys Laboratories Ltd
10.8 Eli Lilly and Co.
10.9 Endo International Plc
10.10 Johnson and Johnson
10.11 Pfizer Inc.
10.12 Sanofi SA
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
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.
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