Neuralgia Treatment Global Market Report 2024

The global neuralgia treatment market has grown strongly in recent years. It will grow from $2.15 billion in 2023 to $2.3 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rising prevalence of neuralgia, neuropathic pain awareness, rise in chronic pain conditions, presence of high disposable income, government initiatives.

The global neuralgia treatment market is expected to see strong growth in the next few years. It will grow to $2.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to aging population, emerging therapies, increasing incidences of diabetes, high healthcare expenditure. Major trends in the forecast period include advancements in pain management, innovative products, digital health integration, development of new drug delivery systems.

The upward trajectory in the prevalence of chronic diseases, most notably diabetes, is anticipated to be a significant driver of growth for the neuralgia treatment market. Chronic ailments are characterized by their enduring nature, lasting a year or more, requiring ongoing medical attention, and often limiting daily activities. Diabetes, a persistent metabolic disorder marked by elevated blood glucose levels, is one such chronic condition. Neuralgia treatment is instrumental in addressing diabetic neuropathy, the nerve damage that can afflict individuals with diabetes. For instance, as of December 2021, data from the International Diabetes Federation, an intergovernmental organization based in the United States, revealed that diabetes had impacted 537 million adults aged 20 to 79 years in 2021. Projections indicate that this number will surge to 643 million individuals by 2030 and an estimated 783 million by 2045. Hence, the mounting prevalence of chronic diseases, prominently diabetes, is a driving force behind the expansion of the neuralgia treatment market.

The projected upswing in the volume of surgical procedures is foreseen as a key driver for the expansion of the neuralgia treatment market in the foreseeable future. Surgical procedures encompass medical interventions or therapies that entail the use of incisions or minimally invasive techniques to access and manipulate tissues or organs within the body. They are poised to contribute to the growth of neuralgia treatment by offering viable options in cases where non-surgical treatments have proven ineffective or when there exists a specific anatomical cause that can be rectified through surgery. For example, as of April 2022, data from the Aesthetic Society, an industry organization of plastic surgeons based in the United States, revealed a notable 54% increase in surgical aesthetic procedures in 2021 when compared to 2020. On average, surgeons conducted 320 procedures in 2021, marking a substantial rise from the 220 procedures performed in 2020. Thus, the upsurge in the neuralgia treatment market can be attributed to the growing number of surgical procedures.

The expense associated with neuralgia treatment can reach high levels, potentially limiting treatment accessibility and exerting a detrimental effect on market growth. The substantial cost of treatment has the capacity to significantly hinder the expansion of the neuralgia treatment market by making effective treatments less affordable and consequently reducing the overall demand in the market. Moreover, the high treatment costs may pose a significant barrier to access, particularly for patients in developing nations. For instance, in September 2022, a study featured in the Journal of Headache and Pain, a Germany-based open-access journal, assessed the long-term outcomes of a multidisciplinary trigeminal neuralgia service. The study highlighted that the expenses associated with treating trigeminal neuralgia can be notably elevated, as patients often require multiple medications and procedures throughout the course of their treatment. Hence, the elevated cost of neuralgia treatment is impeding the growth of the neuralgia treatment market.

Major players in the neuralgia treatment market are dedicated to the development of cutting-edge products and solutions to maintain their competitive edge in the industry. As an illustration, in April 2023, GlaxoSmithKline Pharmaceuticals Ltd., an India-based pharmaceutical company, introduced Shingrix, the world's first non-live recombinant subunit vaccine. This vaccine is specifically designed to prevent shingles and post-herpetic neuralgia in adults aged 50 years and above, administered intramuscularly in two doses. Shingrix leverages the antigen glycoprotein E along with the adjuvant system AS01B to generate a potent and long-lasting immune response, countering age-related immune system deterioration. Clinical trials have demonstrated its remarkable 97% effectiveness in preventing shingles in adults, while also effectively guarding against post-herpetic neuralgia, a painful complication of shingles.

In November 2022, Kriya Therapeutics Inc., a gene therapy company based in the United States, completed the acquisition of Redpin Therapeutics Inc. The specific financial details of the transaction were not disclosed. This strategic acquisition is poised to enhance Kriya Therapeutics Inc.'s gene therapy portfolio for addressing neurological disorders, encompassing conditions like epilepsy, trigeminal neuralgia, and Parkinson's disease. Redpin Therapeutics Inc., also based in the United States, is a biotechnology company with a strong track record in effectively treating a range of neurological disorders, including neuralgia.

Major players in the neuralgia treatment market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline PLC, Eli Lilly and Company, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Biogen Inc., Daiichi Sankyo Company Limited, Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Limited, Horizon Therapeutics, Purdue Pharma, Dr. Reddy's Laboratories, Cipla Limited, Hikma Pharmaceuticals PLC, Zydus Lifesciences Ltd., Lupin Limited, Mallinckrodt Pharmaceuticals, Glenmark Pharmaceuticals, Tonix Pharmaceuticals.

North America was the largest region in the neuralgia treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuralgia treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the neuralgia treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Neuralgia treatment primarily falls into two categories drug-based therapies and surgical interventions. Drug-based treatment involves the use of medications to manage, alleviate, or even cure various medical conditions and diseases, including diabetic neuropathy, intercostal neuralgia, occipital neuralgia, peripheral neuralgia, and postherpetic neuralgia. These medications are accessible through various distribution channels such as drug stores, hospital pharmacies, online pharmacies, and retail pharmacies. They are utilized in diverse healthcare settings, including hospitals, clinics, ambulatory surgery centers, and other medical facilities.

This report provides neuralgia treatment market statistics, including neuralgia treatment industry global market size, regional shares, competitors with a neuralgia treatment market share, detailed neuralgia treatment market segments, market trends and opportunities and any further data you may need to thrive in the neuralgia treatment industry. This neuralgia treatment 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 neuralgia treatment market consists of revenues earned by entities by providing blood tests, magnetic resonance imaging (MRI), nerve conduction velocity tests, physical therapies and alternative therapies. The market value includes the value of related goods sold by the service provider or included within the service offering. The neuralgia treatment market also includes sales of anticonvulsant medications, pain relievers, antidepressants and antiseizure medications. 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.


This product will be delivered within 3-5 business days.