Neuropathic Pain Global Market Report 2024

The global neuropathic pain market 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 global neuropathic pain market 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.

The rising prevalence of chronic pain is anticipated to be a significant driver for the growth of the neuropathic pain market in the future. Chronic pain is characterized by its persistency, lasting beyond the expected healing period following an injury or illness, typically spanning a duration of three to six months or more. The increasing occurrence of chronic pain, including neuropathic conditions, underscores the need for effective treatments. This, in turn, stimulates research, innovation, and investment in the development of improved therapies aimed at enhancing symptom relief and overall quality of life. For instance, as of April 2023, data published in the Morbidity and Mortality Weekly Report (MMWR) by the Centers for Disease Control and Prevention, a national public health agency in the United States, revealed that in 2021, approximately 51.6 million U.S. adults (20.9%) grappled with chronic pain, with 17.1 million (6.9%) experiencing high-impact chronic pain. It is noteworthy that the prevalence of chronic pain among individuals born in the U.S. (21.6%) was nearly twice that of those born outside the U.S. (11.9%). Likewise, high-impact chronic pain was more prevalent among U.S.-born individuals (7.0%) compared to those born outside the U.S. (4.1%). Hence, the burgeoning incidence of chronic pain is a driving force behind the prospective growth of the neuropathic pain market.

The expected increase in the prevalence of diabetes is set to be a driving force behind the future growth of the neuropathic pain market. Diabetes, a chronic medical condition characterized by elevated levels of glucose (sugar) in the bloodstream, is a significant contributor to neuropathies, which are among the most common chronic complications of diabetes, affecting more than 50% of individuals with diabetes over their lifetime. Among neuropathy types, diabetic peripheral neuropathy (DPN) is the most prevalent and is associated with the most extensively researched treatment methods. For instance, as reported in the Diabetes Atlas by the International Diabetes Federation, a non-profit organization based in the United States, the global population of adults aged 20 to 79 living with diabetes stood at approximately 537 million in 2021. Furthermore, the overall count of individuals affected by diabetes is projected to increase to 643 million by 2030 and reach 783 million by 2045. Consequently, the growth of the neuropathic pain market is closely linked to the escalating number of diabetes cases.

The substantial costs associated with medications pose a notable obstacle that impedes the expansion of the neuropathic pain market. These costs limit patient access to essential treatments and create financial barriers that can deter both patients and healthcare providers from pursuing comprehensive pain management strategies. For example, as indicated in a study published in October 2022 at the National Library of Medicine, a U.S.-based medical library, there remains a significant unmet need in the pharmacological treatment of neuropathic pain, with many patients experiencing an inadequate response. The study also underscores that neuropathic pain affects 7-10% of the population, and the majority of these patients receive treatments that are insufficient and incomplete. Therefore, the high cost of neuropathic pain treatment acts as a deterrent, hampering the growth of the market.

The leading companies in the neuropathic pain market are embracing artificial intelligence technologies to revolutionize various facets of pain management. These innovations encompass advanced diagnosis, tailored treatment plans, real-time monitoring, drug discovery, and data-driven insights, all aimed at optimizing patient outcomes and refining pain management strategies. For instance, in March 2023, Nevro Corp., a U.S.-based medical device company, introduced the Senza HFX iQ spinal cord stimulation (SCS) system. This cutting-edge technology harnesses the power of artificial intelligence (AI) to deliver customized pain relief solutions for individual patients. The system, which comprises the HFX iQ Implantable Pulse Generator (IPG), HFX Trial Stimulator, Charger, and HFX App, is designed to address non-surgical back pain and painful diabetic neuropathy by adapting to patient responses and feedback. Utilizing a unique algorithm informed by extensive patient data, the system allows patients to fine-tune their pain relief programs through a smartphone app. The digital ecosystem of the system enables continuous data collection and potential updates. The primary goal of this technology is to elevate pain relief by offering consistency and personalization, representing a significant advancement in SCS therapy.

In March 2021, Horizon Therapeutics PLC, an Irish biotechnology company, completed its acquisition of Viela Bio, Inc., for a sum of $3.1 billion. This strategic acquisition bolstered Horizon Therapeutics' presence in the realm of autoimmune and severe inflammatory diseases by incorporating UPLIZNA, the first and only B-cell-depleting humanized monoclonal antibody approved by the U.S. Food and Drug Administration for treating neuromyelitis optica spectrum disorder (NMOSD). Viela Bio, Inc., is a U.S.-based biotechnology company specializing in the development of treatments for neuropathic pain resulting from autoimmune or inflammatory conditions.

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.

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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the neuropathic pain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary approaches to neuropathic pain treatment include medications and multimodal therapy. Medications involve the use of pharmaceutical substances to alleviate symptoms and manage conditions. Certain drugs, such as anticonvulsants, antidepressants, and opioids, are effective in targeting nerve-related abnormalities and pathways. They work to reduce the intensity of neuropathic pain signals, offering relief. Neuropathic pain diagnosis typically involves imaging, blood tests, and physical examinations. These diagnostic procedures are relevant for conditions like diabetic neuropathy, spinal stenosis, chemotherapy-induced peripheral neuropathy, and others. They are commonly administered in healthcare settings such as hospitals, clinics, home healthcare, and ambulatory surgical centers.

This report provides neuropathic pain market statistics, including neuropathic pain industry global market size, regional shares, competitors with a neuropathic pain market share, detailed neuropathic pain market segments, market trends and opportunities and any further data you may need to thrive in the neuropathic pain industry. This neuropathic pain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neuropathic pain market consists of revenues earned by entities by providing physical therapy services, acupuncture services and relaxation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The neuropathic pain market also includes sales of anticonvulsants, antidepressants, opioids, topical creams and transcutaneous electrical nerve stimulation devices, which are used in providing neuropathic pain diagnosis and treatment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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