Neuropathic Pain Market

Global Neuropathic Pain Market Size (2023 to 2028)

The global neuropathic pain market is expected to be worth USD 9.74 billion by 2028 from USD 7.3 billion in 2023, growing at a CAGR of 5.94% from 2023 to 2028.

Global Neuropathic Pain Market Share Insights:

• Based on drug class, the tricyclic antidepressants segment led the market in 2022.
• Based on indication, the diabetic neuropathy segment dominated the market in 2022.
• Based on the distribution channel, the online pharmacies segment held the major share of the global market in 2022.
• Based on region, the North American regional market accounted for the largest share of the worldwide market in 2022.

Impact of COVID-19 on the neuropathic pain market:

The COVID-19 pandemic situation adversely affects many industries, but this crisis has positively impacted the healthcare sector. Certain restrictions, lockdowns, and social isolation have impacted every stage of therapeutic development from basic science to the manufacturing of both approval and experimental neurological therapeutics, pandemic significantly impacted neurological health as well. In March 2022, researchers found that many people who tested positive for the coronavirus in the early month of the pandemic experienced several symptoms such as peripheral neuropathy pain, numbness in hands, and tingling. Thus, the growing incidence of neuropathy pain due to the COVID-19 pandemic has fueled the need for treatment and therapies and contributing to the market growth.

MARKET DRIVERS:

The growing prevalence of diabetes and cancer worldwide is one of the major factors propelling the neuropathic pain market. In a report published by the CDS in 2022, it was revealed that more than 135 million adults had been diagnosed with diabetes and prediabetes thus the symptoms associated with diabetes and cancer demand the appropriate therapies. Neuropathic pain arises due to damage to the nervous system, this condition can be caused due to conditions such as diabetes and cancer. Due to a rise in blood level leading to nerve damage, this condition is known as diabetic neuropathy which causes pain, numbness, and tingling particularly in feet and hands. It is estimated that about 50% of people with diabetes may develop diabetic neuropathy at some point, certain types of cancer can lead to nerve damage, resulting in neuropathic pain, also some cancer treatments including chemotherapy, radiotherapy can damage nerves, causing neuropathic pain as a side effect, thus rising prevalence of diabetes and cancer contributes to the overall burden of neuropathic pain, this neuropathic pain need appropriate treatment boosting the growth of neuropathic pain market in upcoming years.

The growing efforts from the key market participants to develop novel neuropathic pain treatments contributes to the neuropathic pain market growth. The approval of new medications or treatments gives medical professionals more alternatives for treating neuropathic pain. Having more treatment alternatives enables more individualized treatment plans that are catered to specific patient needs because different patients may react differently to different treatments. Comparing novel treatments to existing ones, they might be more effective and safer. These developments may improve pain alleviation and minimize adverse effects, improving patient experiences and overall therapeutic results.

The growing number of pain management clinics worldwide supports the neuropathic pain market growth. Neuropathy pain is one of the many types of chronic pain that pain management clinics specialize in diagnosing, treating, and managing. Pain management clinics provide professional care and information on how to manage chronic pain, including neuropathic pain. These clinics usually work with dedicated medical professionals with knowledge of the diagnosis and management of neuropathic pain. Around 35% of the population now rely on pain management clinics for the treatment of neuropathic pain and this expert care may lead to better patient outcomes and neuropathic pain management.

The growing population, increasing number of R&D activities, growing prevalence of cancer and diabetes, well-established healthcare infrastructure, increasing demand for neuropathic pain treatment, the introduction of the latest product for the treatment of neuropathic pain further promotes the neuropathic pain market.

MARKET RESTRAINTS:

The potent side effects of opioids and steroids, the sharp increase in the price of branded medications primarily hamper the market growth. Cost-benefit evaluations may be performed by payers and healthcare providers when evaluating the usage of branded medications. Healthcare practitioners may decide to use less expensive generic equivalents or other forms of therapy if the price of a specific medicine outweighs its alleged benefits or if there are more cost-effective alternatives available. This may result in a decrease in the use of name-brand medications to treat neuropathic pain. The side effect of neuropathic pain medicine further impedes market growth.

REPORT COVERAGE: 

This research report on global neuropathic pain market has been segmented and sub-segmented based on the following categories.

Neuropathic Pain Market - Based on Drug Class:

• Tricyclic Antidepressants
• Opioids
• Capsaicin Cream
• Steroids
• Others

Based on drug class, the tricyclic antidepressants segment is expected to grow at the fastest CAGR during the forecast period. Antidepressants that selectively block serotonin and norepinephrine reuptake (SNRIs) and tricyclic antidepressants (TCAs) are useful in treating neuropathic pain and can aid in the neurological system's modulation of pain signals. The established efficacy of tricyclic antidepressants in managing neuropathic pain by altering neurotransmitter activity drives segmental growth. The broad clinical experience and historical use of tricyclic antidepressants in various neuropathic pain conditions and the availability of generic formulations further fuels the growth rate of the segment.

Neuropathic Pain Market - Based on Indication:

• Diabetic Neuropathy
• Spinal Stenosis
• Chemotherapy- Induced Peripheral Neuropathy
• Others

Based on indication, the diabetic neuropathy segment is expected to dominate the market during the forecasted period owing to the growing burden of targeted diseases and unhealthy lifestyles. The rising awareness about pain management strategies for diabetic complications and increasing number of advances in neuropathic pain therapies tailored specifically for diabetic neuropathy further boost the growth rate of the diabetic neuropathy segment in the global market.

The chemotherapy-induced peripheral neuropathy segment is projected to witness a healthy CAGR in the coming years owing to the growing cancer patient population worldwide, rising demand for effective pain management solutions to improve patients' quality of life during and after cancer treatment and research focus on developing therapies to mitigate or prevent CIPN-related neuropathic pain.

 Neuropathic Pain Market - Based on Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on the distribution channel, the online pharmacies segment is expected to dominate the neuropathic pain market during the forecast period. The pandemic situation strengthened the digital commerce platform which sustained the rapid growth of online pharmacies thus this segment is expected to dominate the market during the forecasted period.

The hospital pharmacies segment is anticipated to account for a substantial share of the global market in the coming years.

 Neuropathic Pain Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The North American region held the major share of the worldwide market in 2022 and is expected to dominate the market during the forecast period. The growing geriatric population prone to neuropathic pain conditions, the availability of advanced pain management therapies and treatments, high healthcare expenditure and reimbursement coverage for pain management interventions drive the North American market. The U.S. is anticipated to account for the major share of the North American market in the coming years owing to the presence of well-established healthcare infrastructure, high prevalence of chronic diseases, and increasing focus on pain management.

Europe is the second largest regional market worldwide and is expected to record a promising CAGR during the forecast period. Factors such as the growing prevalence of neuropathic pain due to chronic diseases like diabetes and cancer, rising emphasis on early diagnosis and pain management in neurology practice and increasing number of collaborations between healthcare institutions and pharmaceutical companies for novel pain therapies propel the growth of the European market. Germany led the market in Europe in 2022 and is estimated to capture the leading share of the European market in the coming years. Rapid adoption of pain management guidelines and protocols in Germany, growing awareness, the presence of well-developed healthcare system and increasing aging population drive the growth of the German market.

Asia-Pacific is the most lucrative regional market worldwide and is anticipated to witness the highest CAGR during the forecast period. The growing prevalence of chronic diseases leading to neuropathic pain, increasing healthcare expenditure, growing number of improvements in the development of infrastructure across the Asia-Pacific region and rapid adoption of advanced pain management techniques in emerging economies propel the growth of the APAC market. China, India, and Japan are predicted to hold the leading share of the APAC market in the coming years.

The Latin America and Middle East-Africa region is also expected to grow at a healthy CAGR during the forecasted period in the neuropathic pain market.

KEY MARKET PLAYERS:

Sanofi, Abbott, Astelles, Eli-Lily, Mallinckrodt Pharmaceuticals, Pfizer Inc., Novartis AG, and Teva Pharmaceutical Industries Ltd. are some of the noteworthy companies in the global neuropathic pain market.

RECENT HAPPENINGS IN THE MARKET:

• In July 2022, Novarmed AG and NeuroFront Therapeutics (Hong Kong) Limited signed an exclusive collaboration and commercialization agreement for Novaremed’s innovative non-opioid investigational drug, NRD.E1, being developed for the treatment of diabetes-related neuropathic pain and other neuropathic pain indications. As per the agreement, Novaremed is eligible to receive from NeuroFront over USD 130 million in option and exercise fees as well as development, regulatory, and sales milestone payments plus royalties on net sales.
• In March 2022, Daiichi Sankyo Company, Limited received approval in Japan to change the indication of the analgesic “Tarlige Tablets” (mirogabalin besilate) from “peripheral neuropathic pain” to “neuropathic pain.”