The Neuropathic Pain market studied is anticipated to grow with a CAGR of nearly 5.4%, during the forecast period. Certain factors that are driving the market growth includes the rising prevalence of diabetic neuropathy and other targeted diseases and increasing healthcare expenditure and research funding. As per the 2018 report published by Kelsey Juster-Switlyk et al, Diabetes has become one of the largest global health-care problems. The number of people with diabetes worldwide is projected to double between 2000 and 2030, reaching a pandemic level of 366 million people.

Diabetic polyneuropathy (DPN) has a lifetime prevalence of nearly 50%, and it is the most common diabetic complication. DPN is a prominent cause for disability due to foot ulceration and amputation, gait disturbance, and fall-related injury. Around 20 to 30% of patients with DPN suffer from neuropathic pain. DPN significantly lowers the quality of life and substantially increases the health costs associated with diabetes. The total annual medical costs for diabetes is USD 6,632 per patient. People suffering from DPN experience a twofold increase in health-care costs (USD 12,492), and those with severe painful peripheral neuropathy experience a fourfold increase (USD 30,755).

All these afore-mentioned factors are boosting the growth in demand for effective medication in order to treat and cure neuropathic pain.

Key Market Trends

Opioid Holds Significant Share in the Neuropathic Pain Market

Opioids are considered as some of the most effective drugs for management of pain. Moreover, their use in the management of severe pain and chronic pain, which are associated with advanced medical illness, is considered to be standard practice in most parts of the world. An agonist is a drug that triggers certain receptors in the brain. Methadone (strong) agonist therapy is an effective treatment for addiction to opioid drugs (such as heroin). Strong agonist opioids activate opioid receptors, and after binding tightly, undergo significant conformational changes. Strong agonists include codeine, fentanyl, heroin, hydrocodone, methadone, morphine, and oxycodone.

As per the US Department of Health and Human Services and National Institutes of Health, in 2015, 25.4 million Americans adults experienced pain daily. These statistics indicates the importance of pain management and impacts the opioid segment positively.

North America Dominates the Global Neuropathic Pain Market

  • In the North American region, the United States has been accounted for the largest market share. The presence of major market players and huge pharmaceutical and biopharmaceutical industries, coupled with the rising investments in the country for the adoption of advanced technologies, is expected to boost the regional growth of the market over the forecast period.
  • In addition, the rising concern about the prevalence of neuropathy and other associated disorders is stimulating the need for the adoption of neuropathic pain medications.
  • Asia-Pacific, on the other hand, is expected to grow with the fastest growth rate over the forecast period.



Competitive Landscape

The global Neuropathic Pain market is competitive and consists of a few major players. Companies like Gr?nenthal, Mallinckrodt Pharmaceuticals, AstraZeneca, Biogen Inc., Eli Lilly and Company, GlaxoSmithKline Plc, Johnson & Johnson, Pfizer, Inc., Sanofi, among others, hold the substantial market share in the market.

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