Global Neuropathic Pain Management Market

MARKET SCOPE:

The global neuropathic pain management market is projected to grow significantly, registering a CAGR of 5.9% during the forecast period (2024 – 2032).

Neuropathic pain is considered as a chronic pain disorder resulting from a primary lesion, such as trauma, infection, or dysfunction within the nervous system. Prominent neuropathic pain syndromes encompass root avulsions, postherpetic neuralgia, painful traumatic mononeuropathy, painful polyneuropathy, postsurgical pain syndromes, central pain syndromes, and complex regional pain syndrome. Medications commonly prescribed for neuropathic pain include anesthetics, anticonvulsants (also referred to as neuroleptic medications), and antidepressants (also known as tricyclic antidepressants). Noteworthy antidepressants include amitriptyline and nortriptyline, while valproic acid, carbamazepine, felbamate, phenytoin, and clonazepam are among the most frequently used anticonvulsants for treating neuropathic disorders. Tocainide or Mexiletine and Lidocaine are significant anesthetics employed to alleviate neuropathic pain.

MARKET OVERVIEW:

Driver: The surge in occurrence of diabetic patients and rising number of cancer patients over the globe are boosting the industry growth.

Neuropathic pain manifests through various symptoms, with diabetic neuropathy being a prevalent indication. Common signs include pain and numbness in the legs, feet, and hands, potentially leading to complications in the heart, blood vessels, digestive system, and urinary tract. The International Diabetes Federation's 2022 estimates reveal that diabetes contributed to 6.7 million deaths in 2021, equating to one fatality every five seconds. The global prevalence of diabetes is significant, affecting 1 in 10 individuals (20-79 years old), totaling 537 million people. Projections suggest an increase to 643 million by 2030 and a further rise to 783 million by 2045. The escalating cases of diabetes contribute to a growing demand for neuropathic pain interventions. Additionally, neuropathic pain is commonly associated with the side effects of various oncology medications, particularly as a consequence of cancer. Chemotherapy increases the risk of developing neuropathic pain, impacting not only daily activities but also treatment outcomes due to potential delays and dose reductions. According to the World Health Organization, cancer was the primary cause of death for approximately 10 million people globally in 2020, representing one in every six fatalities. As the incidence of cancer rises worldwide, the prevalence of chemotherapy-induced neuropathy is expected to increase, thereby driving the market for neuropathic pain therapies. Therefore, the growth of the neuropathic pain market is expected to be facilitated by the proliferation of pain management centers and a rise in investments in research and development.

Opportunities: Increasing availability of approved drugs and the relaxation of prescription restrictions through new guidelines are expected to pave the way for market growth in the upcoming years.

Several approved medications are available in the market for the management of neuropathic pain. Examples of these include Pfizer's Lyrica, Johnson & Johnson's Topamax, and GSK's Lamotrigine, all of which are recognized pharmaceuticals used for treating neuropathic pain. The widespread use of these medications by a significant portion of patients is facilitated by the global presence and distribution capabilities of these well-established pharmaceutical companies. In a similar vein, the Centers for Disease Control and Prevention (CDC) announced last month their intention to introduce new regulations in April 2022 aimed at easing restrictions on prescription opioids. These proposed changes seek to enhance access to opioid medications for the millions of Americans enduring severe and persistent pain.

COVID IMPACT:

The global economic slowdown caused by the ongoing pandemic has impacted various economies. The market for pain medication is expected to be influenced by the COVID-19 pandemic. The pandemic led to a significant decrease in elective surgeries as many non-urgent procedures were rescheduled to allocate resources for COVID-19 patients and minimize the risk of infection spread in healthcare settings. Interestingly, the COVID-19 pandemic had a positive impact on the pain medication market, possibly due to a perceived connection between Covid-19 and the need for pain relief. For instance, in July 2020, the National Center for Biotechnology Information highlighted that patient experiencing early signs of Covid infection, such as lower back discomfort, widespread myalgias, or headaches, might benefit from pain medications. There is a growing body of evidence suggesting that SARS-CoV-2 can affect the neurological system, particularly in immunocompromised patients. Recent statistics from April 2022, as reported by PubMed, indicate a significant increase in discomfort among patients with chronic pain in the United States and Canada during the pandemic. However, the global neuropathic pain management market was adversely affected by the COVID-19 pandemic, primarily due to peripheral nervous system involvement in patients with COVID-19 infection. For instance, a June 2022 article published in Springer revealed that individuals with COVID-19 infection encountered painful neuropathies as part of peripheral nervous system manifestations. Researchers reported peripheral nervous system effects, including dysgeusia (5.6%), insomnia (5.1%), visual disturbances (1.4%), and neuralgia (2.3%).

SEGMENTATION ANALYSIS:

Based on indication segment, diabetic neuropathy type is anticipated to grow significantly during the forecast period.

The diabetic neuropathy segment is anticipated to exhibit robust growth throughout the forecast period, driven by key factors such as the escalating prevalence of targeted diseases and the introduction of products designed for their treatment. The prevalence of diabetes worldwide is largely attributed to sedentary and unhealthy lifestyles. For instance, an article updated in January 2021 on the epidemiology and classification of diabetic neuropathy reveals that diabetic polyneuropathy is the most prevalent neuropathy in developed countries, affecting approximately 50% of patients with diabetes. These findings highlight the increasing burden of diabetic neuropathy, indicating anticipated growth in this market segment over the forecast period. Moreover, the continuous influx of research studies and clinical trials holds the potential to introduce innovative products, fostering segment growth in the future. As an illustration, in May 2021, Pure Green Pharmaceuticals Inc. reported a Phase II trial where a cannabidiol (CBD) sublingual tablet demonstrated a notable reduction in pain scores (approximately 50%) in patients with diabetic peripheral neuropathy. Positive outcomes from such studies are expected to propel the growth of the diabetic neuropathy segment over the forecast period. Consequently, factors like the substantial burden of diabetic neuropathy and ongoing developments in clinical trials contribute to the anticipated growth in this market segment.

Based on drug class segment, tricyclic antidepressant type is predicted to grow significantly during the forecast period.

As per a research brief released by the World Health Organization, there was a substantial 25% global increase in the prevalence of depression and stress during the COVID-19 pandemic (WHO, 2022). Consequently, the category is expected to experience noteworthy growth over the projected period, attributed to elevated stress levels resulting from various socioeconomic factors and considerable spending capacity within this demographic. For instance, information published in October 2021 in The Egyptian Journal of Neurology, Psychiatry, and Neurosurgery by Lebanese International University, Beirut, Lebanon, indicates that Pregabalin serves as the primary and widely utilized medication in the management of neuropathic pain.

REGIONAL ANALYSIS:

The North American region is set to witness significant growth during the forecast period.

North America is poised to capture a significant market share owing to the substantial burden of neuropathic diseases, increased investment in research and development, and the robust presence of key market players. According to the International Diabetes Federation (IDF) 2021 report, the North American region had 49.3 million adults aged 20-79 with diabetes in 2021, a number projected to surpass 55 million by 2030. The escalating prevalence of diabetes in the region is foreseen to generate growth opportunities in the market. Furthermore, a May 2022 article from the National Institute of Health (NIH) reported that the estimated research and development spending for Peripheral Neuropathy in the United States was USD 194 million in 2022 and is anticipated to reach USD 200 million in 2022. Government grants for Peripheral Neuropathy research are expected to open avenues for market players to develop effective drugs, thereby fueling market growth in the coming years.

COMPETITIVE ANALYSIS

The global neuropathic pain management market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

Confo Therapeutics

• In March 2023, Confo Therapeutics, a firm specializing in the discovery of drugs targeting G-protein coupled receptors (GPCRs), disclosed a global licensing agreement with Eli Lilly and Company for Confo's clinical stage CFTX-1554 and its backup compounds.

Eli Lily and Company

• In October 2020, Eli Lilly had acquired Disarm Therapeutics. This agreement has expanded the growth prospects for the neuropathic pain sector.

Baxter Healthcare Corporation

Biogen Idec Inc.

Bristol-Myers Squibb and Company

Depomed Inc.

Eli Lily and Company

GlaxoSmithKline PLC

Johnson & Johnson Services Inc.

Pfizer Inc.

Sanofi S.A.

Teva Pharmaceutical Industries Ltd.

Heron Therapeutics, Inc.

Parker Laboratories

Baxter Healthcare Corporation

SCOPE OF THE REPORT

By Drug Class

• Tricyclic Antidepressant
• Anticonvulsants
• Local Anesthesia
• Opioids
• Steroids
• Others

By Indication

• Diabetic Neuropathy
• Chemotherapy-Induced Peripheral Neuropathy
• Others

By Distribution Channel

• Retail Pharmacies
• Drug Stores
• Online Pharmacies

By Region

• North America (the United States & Canada)
• Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, and Latin America)

KEY REASONS TO PURCHASE THIS REPORT

It provides a technological development map over time to understand the industry’s growth rate and indicates how the neuropathic pain management market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which neuropathic pain management submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032. Show more