Neuropathic pain treatment primarily involves drugs such as anticonvulsants, antidepressants, opioids, topical agents, and others to treat neuropathic pain arising due to conditions like diabetic neuropathy, chronic low back pain, chemotherapy-induced neuropathy, postherpetic neuralgia, and many more. Neuropathic disorders lead to abnormal pain sensations like burning, shooting, tingling, electric shocks, etc. It severely impacts the quality of life. The treatment aims to block pain signals traveling through the damaged or injured nerves or alter the way the brain and spinal cord process these pain signals.
The global U.S. Neuropathic Pain Treatment Market is estimated to be valued at US$ 2492.96 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The significant prevalence of neuropathic disorders in the U.S. like diabetic neuropathy, postherpetic neuralgia, chemotherapy-induced neuropathy, trauma-related neuropathic pain, etc. provides a huge market opportunity for neuropathic pain treatment drugs. As per estimates, over100 million Americans suffer from chronic pain daily out of which 20-25 million people experience neuropathic pain. Effective treatment of neuropathic pain can improve their quality of life. Hence, the growing neuropathic patient pool suffering due to the high burden of neuropathic disorders necessitates effective neuropathic pain management, creating lucrative growth opportunities for players in the U.S. neuropathic pain treatment market.
Porter’s Analysis
Threat of new entrants: The pharmaceutical industry requires high R&D investments and regulatory compliance which acts as a barrier for new companies. However, large market size and unmet needs provide opportunities.
Bargaining power of buyers: Individual consumers have low bargaining power but large pharmacy chains and hospitals can negotiate on price and terms. Presence of alternative treatment options also empowers buyers.
Bargaining power of suppliers: Major pharmaceutical companies have significant bargaining power over API/raw material suppliers due to their large procurement volumes and capabilities.
Threat of new substitutes: Neuropathic treatments face competition from alternatives like counseling, physical therapy and supplements. Development of new mechanisms of action and advanced drug delivery systems can raise substitutability.
Competitive rivalry: The US neuropathic pain market has the presence of global pharmaceutical giants and mid-sized companies. Intense competition on pricing and new product development is seen.
SWOT Analysis
Strength: High unmet clinical needs, growing geriatric population susceptible to neuropathic conditions, and FDA support for innovative therapies.
Weakness: Risk of side-effects, reliance on few blockbuster drugs, entry of generics on patent expiration.
Opportunity: Developing novel drug classes, combining pharmacological and non-pharmacological interventions, and expanding into adjunct therapies.
Threats: Pricing pressure, regulatory hurdles for combination products, and reimbursement challenges.
Key Takeaways
The U.S. Neuropathic Pain Treatment Market Size is projected to grow steadily till 2031 driven by the rising neuropathic disorder prevalence, promising drug pipeline and growing healthcare investments. The market was valued at $2,492.96 million in 2024 and is expected to reach $3,441.31 million by 2031 at a CAGR of 3.8%.
The North American region currently dominates the market owing to favorable policies for pain management innovations and availability of advanced healthcare facilities. Growing NP incidence among veterans and civilians also contributes to the region's large revenue share.
Key players operating in the U.S. Neuropathic Pain Treatment market are Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, TCX S.r.l., FLY Racing, Dr. Scholl's Shoes, and Kenneth Cole New York. These companies compete based on new drug approvals, geographical expansions and collaborative strategies for enhanced market penetration.
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