NEW YORK , Dec. 14, 2023 /PRNewswire/ — The neuropathy pain treatment market is expected to grow by USD 5.84 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 10.96% during the forecast period, according to Technavio Research. The market is segmented by indication (diabetic neuropathy, chemotherapy-induced neuropathy pain, postherpetic neuralgia, and others), distribution channel (retail pharmacies, hospital pharmacies, and online pharmacies), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America accounts for 33% of the growth of the global market during the forecast period. Factors such as the growing prevalence of diabetes have led to an increase in the prevalence of diabetic neuropathy driving the market growth in North America during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a Free PDF Sample Report
Alfasigma Spa, Astellas Pharma Inc., AstraZeneca Plc, Baxter International Inc., Biogen Inc., Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, GlaxoSmithKline Plc, Johnson and Johnson, Mallinckrodt Plc, Neuracle Lifesciences Pvt. Ltd., Pfizer Inc., Sanofi, Sun Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Inc., and VistaGen Therapeutics Inc.
Abbott Laboratories: The company offers neuropathy pain treatment such as the Proclaim XR spinal cord stimulation system, which provides patients with painful diabetic peripheral neuropathy.
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Neuropathy Pain Treatment Market: Segmentation Analysis
- The market growth by the diabetic neuropathy segment is significant during the forecast period. This segment refers to a nerve disorder associated with diabetes. In addition, this segment is characterized by progressive damage to the myelin sheath, which slows down nerve conduction velocity. Moreover, Eli Lilly, Pfizer, and Assertio Therapeutics are some of the companies offering drugs for the treatment of diabetic neuropathy. Hence, such factors fuel the segment which in turn drives the market growth.
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“Besides analyzing the current market scenario, our report examines historic data from 2018 to 2022”- Technavio
Neuropathy Pain Treatment Market: Driver & Trend:
- The rising penetration of generic drugs drives market growth. The significant presence of generic drugs affects the market as the price of generic drugs is almost half the price of branded drugs. Moreover, with a rise in the number of ANDA approvals, several generic drug manufacturers have entered the market, which is intensifying the competition in the market. Hence, such factors drive the market growth.
- Presence of a large patient pool of neuropathy pain
- Growing focus on the development of drugs for the treatment of diabetic neuropathy pain
- The increasing focus on emerging economies is a primary trend in the market. The increasing focus of research institutes and market players to tap the potential treatments in developing economies will likely bring tremendous growth opportunities. Hence, such factors drive the market growth during the forecast period.
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What are the key data covered in this neuropathy pain treatment market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the neuropathy pain treatment market between 2023 and 2028.
- Precise estimation of the neuropathy pain treatment market and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the neuropathy pain treatment across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information about companies.
- Comprehensive analysis of factors that will challenge the growth of neuropathy pain treatment market players.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Indication
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Drivers, Challenges, & Trends
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Originally published at https://www.prnewswire.com/news-releases/neuropathy-pain-treatment-market-size-to-grow-by-usd-5-84-billion-from-2023-to-2028–north-america-accounts-for-33-of-market-growth–technavio-302015282.html
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