Neuropathic Pain Market – Highlights & Overview
The global market for Neuropathic Pain Market may find a heightened interest in a CAGR of 6.06% and this can assist the market in surpassing a valuation of USD 8,017.43 Million between 2018 and 2023, which can be taken as the forecast period. Market Research Future (MRFR), in their analytical study of the global market for neuropathic pain, made revelations regarding factorial details on the basis of their market impact in the aforementioned period.
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Neuropathic pain can be discussed as a chronic type of pain that may occur due to tissue injury and has a link with sensory-motor system. This market for neuropathic pain is getting traction from various factors like rising prevalence of diabetic neuropathy, increasing healthcare expenditure, major increase in number of adult populations recording changes for such cases, and others within the region and Increasing healthcare expenditure may also play a significant role in taking the market forward.
But the market for neuropathic pain can witness some distractions in terms of counterfeit drugs & various side effects regarding the treatment procedure. People are also lacking any proper awareness regarding the treatment conditions. This can slowdown the market growth.
Competitive Landscape:
A number of companies are taking active part in the global market for neuropathoc pain. These companies can witness significant traction by implementing strategic moves. These tactical moves can ensure better CAGR for these companies and take the market forward by leaps and bounds. MRFR registered and profiled a few companies that can influence and inspire future market study. These companies are Eli Lilly and Company (U.S.), AstraZeneca (U.K.), Depomed Inc. (U.S.), BJohnson & Johnson Services Inc. (U.S.), axter Healthcare Corporation (U.S.), Pfizer, Inc. (U.S.), Astellas Pharma Inc. (Tokyo), GlaxoSmithKline plc (U.K.), Sanofi S.A. (France), Biogen Inc. (U.S.), and Abbott Laboratories (U.S.).
Industry Updates:
In September 2019, researchers from the University at Buffalo have come up with a process that would ensure better treatment for neuropathic pain that would eliminate surgeries. The minimally invasive procedure would witness delivery of an antibody that targets and blocks the pro-inflammatory protein that is known as tumor necrosis factor-alpha (TNF).
Segmentation:
The global market for neuropathic pain, as registered in the report published by MRFR, includes indication, type, treatment, distribution channel, diagnosis, and end user as segments that can bring out insights regarding the market. This would also make the study of the market easier for various companies.
By type, the market report on neuropathic pain includes entrapment neuropathy, peripheral neuropathy, postherpetic neuralgia (PHN), trigeminal neuralgia, phantom limb pain, and post-traumatic neuropathy.
By indication, the market for neuropathic pain includes spinal stenosis, chemotherapy-induced peripheral neuropathy, diabetic neuropathy, and others.
By diagnosis, the market for neuropathic pain comprises imaging physical examination and blood tests. The imaging market segment would include MRI, electromyography, and CT.
By treatment, the market report on neuropathic pain would cover, antidepressant drugs type, medication type NSAIDs type, nerve blocks type, anticonvulsantsand multimodal therapy. The NSAIDs types include naproxen, ibuprofen, and others. Nerve blocks type covers local anesthetics, steroids, others. Antidepressant drugs type encompasses tricyclic antidepressants and serotonin noradrenaline.
By distribution channel, the market study for neuropathic pain would circle around retail pharmacies & drug stores, and online pharmacies.
By end user, the report on the neuropathic pain market comprises clinics, hospitals, and research organizations. The hospitals segment had better market growth in 2017.
Regional Analysis:
The Americas market is a combination of reports from North America and South America and it is growing rapidly due to superior infrastructure, better funding, and higher technological integration. The market can gain substantially from rising awareness and higher expenditure capacity. The regional market would be dominated by the US and Canada as their financial state is better than most of the provinces. Europe would record similar growth, which can bank much on the contributions made in the research and development sector.
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The Asia Pacific market would witness high growth possibilities due to huge market population and increasing investment made by emerging economies. Japan, India, China, and others can contribute to the growth significantly.
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