Neuropathic Pain Market Size, Share & Trends Analysis Report By Type (Peripheral Neuropathy, Entrapment Neuropathy, Post Traumatic Neuropathy, Phantom Limb Pain, Post Herpetic Neuralgia (PHN), Trigeminal Neuralgia, Others), By Diagnosis and Treatment (Imaging, blood tests, physical examination, Medication, Multimodal therapy, Others), By Distribution Channel (Online Pharmacies, Retail Pharmacies, Drug Stores, Others), By End-User (Hospitals, Clinics, Research Organizations, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global neuropathic pain market size was valued at USD 2,052.9 million in 2018 and is expected to rise at a CAGR of 5.3% during the forecast period. 

Neuropathic pain is caused when a disease damages the somatosensory nervous system. People suffering from diabetes, vascular and blood problems, and kidney and liver disorders are highly prone to develop neuropathic pain. In addition, a high rate of 'fall injuries' can cause neurological diseases. For instance, it was estimated that over 3 million geriatric people were treated in emergency departments, and 800,000 patients were hospitalized for fall injuries in the U.S. Around 7–8% of adults were registered to have neuropathic pain in 2015. Similarly, in the U. K., 26% of diabetic people were found to have peripheral neuropathic pain. The expansion of the neuropathic pain market is anticipated to be fueled by the rising R&D spending of industry participants in order to develop more advanced products. The high risk of neuropathic pain associated with an aging population in a number of nations will present an opportunity for the neuropathic pain industry to expand.

Market Dynamics

What are the factors driving the market growth?

Prevalence of Chronic Disorders

A prominent factor driving the global market for neuropathic pain management is the increasing prevalence of chronic disorders such as diabetes and cardiovascular diseases. The high incidence of diabetes around the world is mostly attributable to sedentary and unhealthy lifestyles. In affluent nations, diabetic polyneuropathy is the most common form of neuropathy. According to a study, approximately 50% of diabetic people will eventually develop neuropathy. According to the World Health Organization (WHO) report over 422 million people suffered from diabetes in 2018. This number is anticipated to increase over the next few years, resulting in an increased demand for neuropathic pain management. The expansion of healthcare infrastructure, an increase in pharmaceutical companies' allocation of resources toward research, and the development of novel drug discovery methodologies are all driving the global neuropathic pain treatment market.

What are the factors restraining the market growth?

Side Effects of Medication

Medications' negative impacts are anticipated to restrain market expansion. Opioid and steroid abuse can result in consequences such as heart attack, kidney failure, and lung damage. Opioid dangers and side effects, such as drowsiness, constipation, vomiting, and nausea, lead some individuals to quit their use. Additionally, there is a danger of life-threatening respiratory difficulties, which can be fatal if the prescription is coupled with alcohol or sedative medication.

Regional Analysis

Geographically, the global neuropathic pain market share is segmented into four major regions: North America, Europe, Asia Pacific, and LAMEA.

North America houses a huge population suffering from a variety of neurological issues such as stroke, Parkinson's disease, brain cancer, epilepsy, brain injury, dementia, prion disease, Huntington's disease, multiple sclerosis, and a host of neuromuscular conditions. For Instance, In the U.S., around 235,000 cases of traumatic brain injuries are reported every year, which is in excess of 20 times the number of hospitalizations for spinal cord injury. Similarly, around 2.4% of the U.S. population suffered from peripheral neuropathy in 2015. As per the National Institutes of Health estimation, around 165,813 people are currently living with brain and other nervous system disorders in the U.S. In the region, the prevalence of neuropathic disorders is increasing at an alarming rate. To curb the prevalence,  various organizations and pharmaceutical industries are focusing on the development of advanced treatments for neuropathic pain. The University of Maryland Medical Centers developed an ultrasound treatment for neuropathic pain. In addition, FDA approved Lyrica for the management of neuropathic pain associated with diabetic peripheral neuropathy.

Europe is expected to witness considerable growth over the forecast period. Spinal stenosis is one of the most common age-related back problems faced by people in this region. According to Cancer Research U.K., around 3–5 in 100 people are reported to suffer from cancer. People suffering from cancer have a high chance of developing spinal cord compression. In 2015, it was reported that around 2.9 million people were suffering from diabetes in the U.K. Therefore, the prevalence of spinal stenosis and diabetes mellitus in a person can increase their chances of developing neuropathic pain. In addition, the University of Cambridge has developed a new approach to treating neuropathic pain. Governments in the region are heavily investing in their healthcare infrastructure and technology to provide better treatment and services to their people.

In Asia Pacific, the demand for neuropathic pain management is increasing as the number of patients with cancer, diabetes, etc., rises gradually. The region's neuropathic pain market's share is anticipated to be influenced by the government's approach to improving patient care and the drive toward increasing the existing infrastructure in order to provide better healthcare. The expansion of the neuropathic pain management business is anticipated to be aided by the fact that major players are investing heavily in R&D and focusing on the launch of innovative solutions in order to enhance their revenue share. In addition, increased merger and acquisition activity by major players in an effort to expand their product portfolio and expand their client base is contributing to the expansion of the regional market. Both microvascular and macrovascular diabetes-related problems pose a significant burden in India. As the prevalence of diabetes mellitus increases, the number of individuals with its complications also rises. In India, diabetic peripheral neuropathy (DPN) is the most prevalent diabetic complication, with a prevalence ranging from 18.8 to 61.9%.

The LAMEA region is anticipated to witness significant growth over the forecast period. South Africa dominates the Middle East and African market as a result of advances in healthcare funding and expenditure. Increasing frequency of diseases such as cancer, diabetic neuropathy, osteoarthritis, and chronic arthritis, increasing surgical operations, and rising healthcare expenditures are some of the primary drivers driving the growth of the market in the region. Increasing healthcare awareness also contributes to the expansion. The market also expands as a result of pharmaceutical companies' increasing expenditure on R&D and outsourcing services in response to a growing demand for better treatments. However, factors such as the high cost of devices and stringent government regulations pertaining to product approval are anticipated to impede the expansion of the regional market. Additionally, the absence of sophisticated infrastructure in emerging nations for adopting advanced gadgets is anticipated to pose a threat to neuropathic pain market revenue.

Segmental Analysis

The global neuropathic pain market share is segmented by type, diagnosis and treatment,  distribution channel, and end-user.

Based on type, the market is segmented into peripheral neuropathy, entrapment neuropathy, post-traumatic neuropathy, phantom limb pain, post-herpetic neuralgia, trigeminal neuralgia, and others.

The peripheral neuropathy segment is anticipated to have substantial expansion. As a result of injury to the nerves outside of the brain and spinal cord (peripheral nerves), peripheral neuropathy frequently produces weakness, numbness, and pain, typically in the hands and feet. It can also impair digestion, urine, and circulation, among other areas and bodily functions.

Based on the diagnosis and treatment, the market is segmented into imaging, blood tests, physical examination, medication, and other therapies.

The medication segment is expected to dominate the neuropathic pain market during the forecast period. In the medication segment, immunosuppressant or anti-rejection medicines such as corticosteroids and tricyclic antidepressant compounds are widely used. In addition, Diabetic neuropathy is a family of progressive nerve disorders that can develop in diabetes patients. Therefore, it is crucial for diabetic patients to keep their diabetes in check, further raising the demand for medication segments for the treatment of neuropathic pain.

Based on end-user, the market is segmented into hospitals, clinics, research organizations, and others.

The hospital segment is expected to hold a major market share. Most neurological patients prefer a neurological specialist for neurological disorders is the major factor for the market growth. The adoption of advanced technology, such as neuro-radiology services, neuro-intensive care facilities, and medical and radiation oncology services, is expected to boost market growth. For instance, In the U.K., 186,000 patients are treated at the National Hospital every year. Similarly, over Nine thousand neurosurgical operations and 40,000 CT-Scan and MRI scans are performed each year in the U.K.

Impact of covid-19

The COVID-19 pandemic has created havoc in the entire world. All the sectors around the world were drastically affected. There was chaos in the healthcare sector due to the increasing number of patients worldwide. An automatic organization system had become a need for the hour in this situation. The world healthcare facilities were not prepared for this COVID-19 outbreak, and hence the demand for these systems quickly increased.

After the pandemic, the hospitals realized the need to have quality management systems for administration and overall operations. In such a difficult time, medical errors should be avoided as the number of fatal incidents was already surging in the second wave. It is also crucial for healthcare facilities to keep up with the regulatory landscape concerning the use of the software. Continuous training to understand these changes and requirements due to developing technologies has become necessary post-pandemic. Due to these reasons, the need for medical QMS software will rise in the forecast period. 

Recent Developments

• July 2022- Novaremed AG and NeuroFront Therapeutics Limited signed an exclusive collaboration and commercialization agreement for Novaremed's innovative non-opioid investigational drug, NRD.E1, which is being developed for the treatment of diabetes-related neuropathic pain as well as other neuropathic pain indications.
• February 2021- Pfizer Inc. declared that the U.S. The Food and Drug Administration (FDA) has approved the supplementary Biologics License Application for PANZYGA to treat adults with chronic inflammatory demyelinating polyneuropathy, a rare neurological condition of the peripheral nerves.
• January 2021- Eli Lilly paid Asahi Kahei Pharma USD 20 million to buy the rights to an investigational medication in early-stage testing for chronic pain. According to the terms of the agreement, Asahi Kahei might get an additional USD 210 million from Lilly if the medicine successfully advances through research and an additional USD 180 million if certain revenue objectives are achieved following regulatory approval.