Neuropathic Pain Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the Neuropathic Pain market grown over the years?
There has been a robust growth in the neuropathic pain market size over recent years. Projected growth suggests an increase from $5.35 billion in 2024 to $5.79 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. Factors contributing to this growth during the historic period include the rising demand for neuropathic pain medications, the ongoing epidemic of chronic pain, increased demand for prescription treatments, and governmental initiatives.
What Is the forecasted market size and growth rate for the neuropathic pain market?
The market for neuropathic pain is predicted to experience considerable growth in the coming years, expanding to a worth of $7.76 billion by 2029, at a compound annual growth rate (CAGR) of 7.6%. Factors contributing to the market expansion over the forecast period include increased understanding of neuropathic pain, an aging demographic, a well-established healthcare industry, and accessibility to treatments for neuropathic pain. Notable trends forecasted for this period include advancements in diagnostics and pain management, breakthroughs in medical research, the approval of new medications, and strategic initiatives.
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What are the major factors driving growth in the neuropathic pain market?
The neuropathic pain market’s expansion can be attributed to the surging incidences of chronic pain. Chronic pain, which persists and lasts even beyond the anticipated period of illness or injury, tends to extend for a minimum of three to six months. The need for efficient treatments for chronic pain, including neuropathic conditions, is amplified by its escalating prevalence, thereby encouraging research and investment into new therapies that could provide relief and improve the quality of life. As indicated by the Scottish Health Survey 2022 released by the Scotland-based government department in December 2023, over one-third of adults in Scotland (38%) had reported chronic pain in 2022. Women (43%) reported a higher prevalence than men (33%). Consequently, the neuropathic pain market is experiencing growth due to the increasing instances of chronic pain.
Neuropathic Pain Market Driver: Expected Increase in Diabetes Prevalence Fuels Growth of Neuropathic Pain Market
What key areas define the segmentation of the global neuropathic pain Market?
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
Subsegments:
1) By Medications: Anticonvulsants, Antidepressants, Opioids, Topical Treatments, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
2) By Multimodal Therapy: Combination Of Medications, Physical Therapy, Psychological Therapy, Lifestyle Modifications, Complementary Therapies
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What are the top market players propelling the growth of the neuropathic pain industry?
Major companies operating 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.
What are the key trends shaping the future of the neuropathic pain market?
Leading firms in the neuropathic pain market are employing artificial intelligence technology for improved diagnostics, personalized treatment regimes, real-time surveillance, pharmaceutical development, and data-powered insights to improve patient results and fine-tune pain management approaches. An illustrative example is Nevro Corp., a medical device company based in the U.S., which introduced the Senza HFX iQ spinal cord stimulation (SCS) system in March 2023. This state-of-the-art technology uses AI to personalize pain management for each patient. It consists of the HFX iQ Implantable Pulse Generator (IPG), HFX Trial Stimulator, Charger and HFX App, designed to address non-surgical back pain and painful diabetic neuropathy by adjusting based on patient feedback. The system uses a proprietary algorithm drawn from a substantial patient database and provides patients the flexibility to modify their pain management program through a mobile application. The digital nature of the system allows data gathering and potential system updates. This technology seeks to optimize pain relief through uniformity and customization, symbolizing a substantial progression in SCS therapy.
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What regions are dominating the neuropathic pain market growth?
North America was the largest region in the neuropathic pain market in 2024. 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.
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