Neuropathic pain is pain caused by damage or disease affecting the somatosensory nervous system. This pain is associated with abnormal sensations called dysesthesia or pain from normally non-painful stimuli. It may have continuous and episodic components. The latter resemble stabbings or electric shocks. It often causes nerve damage or malfunctioning of nervous system. The impact of nerve damage can cause change in nerve function both at the site of the injury and areas around it. One example of neuropathic pain is called phantom limb syndrome, which is a rare condition. It occurs when an arm or a leg has been removed due to illness or injury, but the brain still gets pain messages from the nerves that carries impulses from the missing limb. These nerves misfire and cause pain.
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Diabetes is the most common indication for neuropathic pain. Increase in geriatric population across the globe is expected to drive the demand for neuropathic pain management services, as the prevalence of painful diabetic neuropathy is 16% in the global elderly population suffering from diabetes. Rise in prevalence of diabetes & cancer, approval of novel treatment options for neuropathic pain, surge in number of pain management centers, and increase in demand for treatment of neuropathic pain are the major factors expected to drive the growth of the global neuropathic pain market. Other trends driving the market growth rapidly. Moreover, increase in demand for neuropathic pain market drugs and introduction of latest products for the treatment of neuropathic pain boost the growth of the market. Well-established healthcare infrastructure and increase in reimbursements are further expected to propel the growth of the global neuropathic pain market. Furthermore, pharmaceutical companies are focusing on development of improved drugs to cater to the unmet needs of patients suffering from neuropathic pain, which supplements the market growth. However, severe side effects of opioids and steroids and rapid rise in costs of branded drugs are some of the factors likely to restrain the growth of the global neuropathic pain market during the forecast period.
The market is highly competitive in nature, with major competitor focused on creating awareness regarding the neuropathic pain industry. Major players in the market host exhibition and seminars to display and promote the use of effective medicines for diverse medical applications. The prominent players in the market have adopted various strategies for development, such as product innovation, product launches & approvals, and investment in R&D for advancements. Top leading neuropathic pain medicine manufacturer are Eli Lilly and Company, Astellas Pharma Inc., Biogen Inc., Baxter Healthcare Corporation, Pfizer, Inc., Sanofi S.A, Abbott Laboratories, AstraZeneca, Johnson & Johnson Services Inc., and GlaxoSmithKline Plc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current neuropathic pain market trends and neuropathic pain market forecast estimations from 2018 to 2025, which assists to identify the prevailing neuropathic pain market opportunities.
- An in-depth neuropathic pain market analysis includes analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global neuropathic pain market is provided.
- Region-wise and country-wise neuropathic pain market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current neuropathic pain market trends and future market potential from 2018 to 2025 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the neuropathic pain market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of global neuropathic pain market.
KEY MARKET SEGMENTS
By Drug Class
- Tricyclic Antidepressants
- Opioids
- Capsaicin Cream
- Steroids
- Others
By Indication
- Diabetic Neuropathy
- Spinal Stenosis
- Chemotherapy-induced Peripheral Neuropathy
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