Market Value and Forecast
The global neuropathic pain management market is expected to be worth US$ 10,414.0 Mn in 2026, it is projected to increase at a CAGR of 5.6% through 2026. North America is large market, which accounted for US$ 2,052.9 Mn in 2017, and is expected to grow at a CAGR of 5.8%.
Factors and Trends Impacting the Growth of the Market
Diabetes is the most common indication for neuropathic pain followed by cancer. The increasing geriatric population across the globe is expected to drive the demand for neuropathic pain management, as the prevalence of painful diabetic neuropathy is 16% in the global elderly population suffering from diabetes. Increasing prevalence of diabetes and cancer, approval of novel treatment options for neuropathic pain, rise in number of pain management centers, and an increasing demand for treatment of neuropathic pain are the major factors expected to drive the growth of the global neuropathic pain management market.
Other trends driving the market growth are growing awareness among patients for treatment of neuropathic pain, increase in the demand for generic drugs, and introduction of new products for the treatment of neuropathic pain. Besides, strong healthcare infrastructure and well-established reimbursements are further expected to drive the growth of the global neuropathic pain management market.
Pharmaceutical companies are focusing on development of improved drugs to fulfil the unmet needs of patients suffering from neuropathic pain. However, severe side effects of opioids and steroids and rising costs of branded drugs are some of the factors likely to restrain the growth of the global neuropathic pain management market over the forecast period.
The global neuropathic pain management market is segmented into the key regions, namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of value, North America is a large market and is expected to increase at over 5.8% CAGR during the forecast period. The Asia Pacific neuropathic pain management market is projected to show fast growth and it is projected grow at CAGR of 6.2% over the forecast period due to increasing prevalence of diabetes in Asia Pacific, particularly in China and India.
Examples of some of the key players operating in the global neuropathic pain management market are Pfizer Inc., Johnson & Johnson Services Inc., Bristol-Myers Squibb and Company, Eli Lily and Company, GlaxoSmithKline PLC, Sanofi S.A., Biogen Idec Inc., and Baxter Healthcare Corporation, Depomed Inc.
This Persistence Market Research (PMR) report examines the ‘Global Neuropathic Pain Management Market’ for the period 2018–2026. The primary objective of the report is to offer updates and information related to market opportunities in the global neuropathic pain management market.
The Neuropathic Pain Management Market is Segmented as Follows:
This report covers the global neuropathic pain management market performance in terms of revenue contribution from various segments. The report begins with an overview of the neuropathic pain management and its definitions. The market viewpoints section underlines macro-economic factors influencing the growth of the neuropathic pain management market along with detailing its opportunity analysis.
The global neuropathic pain management market is segmented based on drug class, indication, distribution channel and region. On the basis of drug class, the market has been segmented as tricyclic anti-depressants anticonvulsants, serotonin–norepinephrine reuptake inhibitor, capsaicin cream, local anaesthesia, opioids, steroids and others.
On the basis of indication, the market is segmented as diabetic neuropathy, trigeminal neuralgia, post-herpetic neuralgia, chemotherapy-induced peripheral neuropathy and others.
On the basis of distribution channel, the market is segmented as hospital pharmacies, retail pharmacies and online pharmacies.
A detailed analysis has been provided for each region in terms of market size, BPS analysis, Y-o-Y growth rate, absolute $ opportunity, and market attractive index. The regional market dynamics provide the key growth driver, restraints, and trends pertaining to each region. The forecast of the neuropathic pain management market by country, drug class, indication, distribution channel are represented in the tabular form for each region. This section also helps to understand the opportunity of the neuropathic pain management market in major countries by each segment.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and to access the key differentiators among the competitor firms. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to the market segments. Detailed profiles of players in the neuropathic pain management market are also provided in the report, which highlights company description, product/segment overview, SWOT analysis, financial information, key developments related to market and strategic overview.
The next section of the report highlights the market outlook for 2018–2026 and sets the forecast within the context of the neuropathic pain management market by region. The key regions assessed in this report include North America, Latin America, Europe, Asia Pacific and MEA. A detailed analysis has been provided for each region in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractive index.
The above sections – by drug class, indication, distribution channel – evaluate the historic market analysis for the period of 2013–2017 and growth prospects of the neuropathic pain management market for the period 2018–2026. We have considered 2016 as the base year and provided data for the forecast period.
The final section of report represents the global scenario for the neuropathic pain management market along with Y-o-Y growth and market forecast till 2026. This section also evaluates the global market opportunity over the forecast period and also the absolute dollar opportunity for each year. This section will help to understand the overall market growth of the neuropathic pain management market and the opportunity analysis for each year over the forecast period.
Bottom-up approach is used to validate the total market size obtained. The forecast presented in the report provides total revenue of the neuropathic pain management market over 2018–2026. While forecasting the market size, we have considered the impact of several factors such product approvals for neuropathic pain management, R&D investment by major players, pipeline analysis, penetration of products in different distribution channel, generic penetration across all regions, etc. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global market.