Overview and Scope
Neuropathic pain is chronic pain caused by damage or dysfunction in the nervous system and characterized by burning, tingling, shooting, or electric shock-like sensations. Neuropathic pain can be challenging to treat and may be caused by nerve injuries, diabetes, multiple sclerosis, nerve compression, neural degeneration and central nervous system disorders.
Sizing and Forecast
The neuropathic pain market size has grown strongly in recent years. It will grow from $4.95 billion in 2023 to $5.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing demand for neuropathic pain drugs, chronic pain epidemic, growing demand for prescription treatments, government initiatives.
The neuropathic pain market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to growing awareness of neuropathic pain, aging population, well-proliferated healthcare sector, accessibility to neuropathic pain treatments. Major trends in the forecast period include improved diagnostics, advancements in pain management, advancements in medical research, new drug approvals, strategic initiatives.
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Segmentation & Regional Insights
The neuropathic pain market covered in this report is segmented –
1) By Treatment: Medications; Multimodal Therapy
2) By Diagnosis: Imaging; Blood Tests And Physical Examination
3) By Indication: Diabetic Neuropathy; Spinal Stenosis; Chemotherapy-Induced Peripheral Neuropathy; Other Indications
4) By End User: Hospitals; Clinics; Home Healthcare; Ambulatory Surgical Centers; Other End Users
North America was the largest region in the neuropathic pain market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuropathic pain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing prevalence of chronic pain is expected to propel the growth of the neuropathic pain market going forward. Chronic pain is persistent and ongoing pain that lasts beyond the expected healing time of an injury or illness. It is characterized by its duration, typically lasting at least three to six months or more. The rising prevalence of chronic pain, including neuropathic conditions, requires effective treatments, spurring research, innovation and investment in improved therapies to enhance symptom relief and quality of life. For instance, in April 2023, according to the Morbidity and Mortality Weekly Report (MMWR) published by the Centers for Disease Control and Prevention, a US-based national public health agency, approximately 51.6 million U.S. adults (20.9%) dealt with chronic pain and 17.1 million (6.9%) experienced high-impact chronic pain in 2021. Further, the prevalence of chronic pain among U.S.-born individuals (21.6%) was almost twice that of those born outside the U.S. (11.9%). Similarly, high-impact chronic pain was more prevalent among U.S.-born individuals (7.0%) than those born outside the U.S. (4.1%). Therefore, the growing prevalence of chronic pain is driving the growth of the neuropathic pain market going forward.
Key Industry Players
Major players in the neuropathic pain market are Pfizer Inc., Johnson & Johnson Private Limited, Sanofi S.A., Bristol-Myers Squibb Company, Abbott Laboratories, GlaxoSmithKline PLC, Medtronic Inc., Eli Lilly and Company, Stryker Corporation, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, Biogen Inc., Zimmer Biomet Holdings Inc. , Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Grünenthal GmbH, Lupin Ltd., NuVasive Inc., Integer Holdings Corporation, Avanos Medical Inc., Orthofix Medical Inc., Nevro Corp., InvaGen Pharmaceuticals Inc., B. Braun Melsungen AG, Cirtec Medical Corp., Centaur Pharmaceuticals Pvt Ltd., Stimwave LLC, DePuy Synthes.
The neuropathic pain market report table of contents includes:
1. Executive Summary
2.Neuropathic Pain Market Characteristics
3.Neuropathic Pain Market Trends And Strategies
4.Neuropathic Pain Market analysis
5.Neuropathic Pain Market Size And Growth
6.Neuropathic Pain Segmentation
7.Neuropathic Pain Regional And Country Analysis
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27. Neuropathic Pain Competitive Landscape And Company Profiles
28.Neuropathic Pain Key Mergers And Acquisitions
29.Neuropathic Pain Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- Johnson & Johnson Private Limited
- Sanofi S.A.
- Bristol-Myers Squibb Company
- Abbott Laboratories
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This report on the Global Neuropathic Pain Market provides a global 360-degree perspective of the industry while taking into consideration historical data as well as providing accurate estimations of the future scope of the market.
This make it easier for the stakeholders of the report to utilize this information and incorporate changes in their business policies and be well informed about the market dynamics.
It also provides an insight into the competitive landscape of the market highlighting key competitors, major manufacturers dominating the Neuropathic Pain Market, while also providing an analysis of the market share and revenue generation figures.Ask for report free sample with complete TOC and list of tables/figures @ https://www.datalibraryresearch.com/sample-request/neuropathic-pain-market-2178Global Neuropathic Pain Market Competitive Analysis:Eli Lilly and CompanyAstellas Pharma Inc.Biogen Inc.Baxter Healthcare CorporationPfizer, Inc.Sanofi S.AAbbott LaboratoriesAstraZenecaJohnson & Johnson Services Inc.GlaxoSmithKline Plc.
Additionally, the report also calls out regions that have showed maximum growth in the past as well as regions that emerged as leaders of the market in historic years.
It utilizes this information to make predictions for regions which are expected to show rapid market growth, backing the predictions with solid analysis reasons.
Moreover, the report also lists out regions that are expected to show maximum potential for market growth in the years to come.
