The neuropathic pain global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neuropathic Pain Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
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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Scope Of Neuropathic Pain Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Neuropathic Pain Market Overview
Market Drivers -
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.
Market Trends -
Major companies operating in the neuropathic pain market are adopting
artificial intelligence technologies for advanced diagnosis, tailored treatment
plans, real-time monitoring, drug discovery and data-driven insights to enhance
patient outcomes and refine pain management strategies. For instance, in March
2023, Nevro Corp., a US-based medical device company, launched the Senza HFX iQ
spinal cord stimulation (SCS) system. This innovative technology employs
artificial intelligence (AI) to customize pain relief for individual patients.
The system, which includes the HFX iQ Implantable Pulse Generator (IPG), HFX
Trial Stimulator, Charger and HFX App, is designed to treat non-surgical back
pain and painful diabetic neuropathy by adapting to patient responses and
feedback. It uses a unique algorithm based on extensive patient data and allows
patients to adjust their pain relief program via a smartphone app. The system's
digital environment enables data collection and potential updates. The
technology aims to enhance pain relief through consistency and personalization,
marking a significant advance in SCS therapy.
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
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Regional Insights -
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.
Key Companies -
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.
Table of Contents
1. Executive Summary
2. Neuropathic Pain Market Report Structure
3. Neuropathic Pain Market Trends And Strategies
4. Neuropathic Pain Market – Macro Economic Scenario
5. Neuropathic Pain Market Size And Growth
…..
27. Neuropathic Pain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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