Trigeminal neuralgia, also known as tic doulourex, is a chronic pain condition that affects the trigeminal or 5th cranial nerve. It typically causes sudden, severe, shooting or sharp pain in parts of the face like eyelid, nose, upper lip, gum, cheek, forehead, temple and lower lip. Trigeminal neuralgia is often triggered by touching or movement such as eating, talking, brushing teeth and may severely limit a patient's quality of life. Trigeminal neuralgia treatment aims to control pain through medications like anticonvulsants, microvascular decompression surgery and stereotactic radiosurgery.
The global Trigeminal Neuralgia Treatment Market is estimated to be valued at US$ 242.95 in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
One of the major opportunities for the trigeminal neuralgia treatment market is to effectively treat pain associated with the trigeminal nerve through minimally invasive and non-invasive treatment options. Currently available treatment options like medications have limited efficacy and side effects, whereas surgeries are often complex and invasive. Novel treatment approaches like focused ultrasound treatment and gamma knife radiosurgery are gaining popularity as they can effectively modulate trigeminal nerve activity through focused ultrasound beams or precise radiation beams without requiring incisions. These non-invasive procedures cause minimal trauma and side effects for patients. Development and approval of advanced non-invasive trigeminal neuralgia treatment devices can help address unmet needs and effectively manage pain without negative impacts of medications or complexity of surgeries. This will drive the adoption of trigeminal neuralgia treatment and boost the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The trigeminal neuralgia treatment market has moderate threat of new entrants due to established brand names and patents of key players. However, generics provide opportunities for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of generics and treatment alternatives. Buyers can negotiate on price and opt for cheaper alternatives.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternatives and established supply chains of key players.
Threat of new substitutes: Substitutes have low-to-moderate threat as trigeminal neuralgia has limited treatment options currently.
Competitive rivalry: The market exhibits high competitive rivalry due to presence global and regional players competing on basis of treatment efficacy, innovation, and pricing.
SWOT Analysis
Strengths: Effective treatment options, increasing diagnosis rates, growth in neurological disorders.
Weaknesses: Limited treatment options, surgery related risks, high costs of branded drugs.
Opportunities: Regional expansion, pipeline drugs, awareness programs.
Threats: Generic competition, social stigma, reimbursement issues.
Key Takeaways
Global Trigeminal Neuralgia Treatment Market Growth is expected to witness high growth supported by rising incidences of neurological disorders, launch of novel treatment drugs.
Regional analysis: North America region currently dominating the market due to growing awareness, established healthcare infrastructure and focus on R&D. The Asia Pacific region is expected to witness fastest growth over the forecast period attributed to rising economy, healthcare spending, and demand for effective treatment.
Key players: Key players operating in the trigeminal neuralgia treatment market are F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Abbott (U.S.), Hikma Pharmaceuticals PLC (U.K.), Allergan (Ireland), Eli Lilly and Company (U.S.), Aurobindo Pharma (India), and Lupin (India), SHIONOGI & Co., Ltd. (Japan), AbbVie Inc. (U.S.).
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