Global Neuropathic Pain Market Size Study, by Drug Class (Antidepressants, Anticonvulsant, Opioids, Capsaicin, Others), by Indication (Diabetic Neuropathy, Spinal Stenosis, Chemotherapy-Induced Peripheral Neuropathy, Others), by Distribution Channel (Hosp

Global Neuropathic Pain Market Size Study, by Drug Class (Antidepressants, Anticonvulsant, Opioids, Capsaicin, Others), by Indication (Diabetic Neuropathy, Spinal Stenosis, Chemotherapy-Induced Peripheral Neuropathy, Others), by Distribution Channel (Hospital Pharmacies, Drugs Stores and Retail Pharmacies, Online Pharmacies) and Regional Forecasts 2022-2032

The Global Neuropathic Pain Market is valued approximately at USD 8.14 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.73% over the forecast period 2024-2032. Neuropathic pain, caused by damage or disease affecting the somatosensory nervous system, is often linked to abnormal sensations such as dysesthesia, or continuous and paroxysmal components. Common symptoms include burning or coldness, pins and needles, numbness, and itching. Medications like opioids, capsaicin, anticonvulsants, and antidepressants are commonly used for neuropathic pain management. Furthermore, the aging population, which is more prone to conditions such as diabetes and shingles leading to neuropathic pain, drives the market. The growing global burden of chronic diseases associated with nerve damage, such as HIV, postherpetic neuralgia, trigeminal neuralgia, and fibromyalgia, also contributes to market expansion. For instance, according to UNAIDS, 39 million people were living with HIV in 2022, with a significant portion experiencing neuropathic pain due to peripheral neuropathy.

The market is driven by the increasing demand for drugs for neuropathic pain, growing awareness initiatives by various government associations, and a rise in clinical trials for neuropathic pain treatments. For instance, in May 2023, Algiax Pharmaceuticals announced the continuation of its Phase 2a study (NCT04429919) with lead candidate AP-325 in patients with chronic neuropathic pain, following a positive mid-enrollment interim analysis. Moreover, the rise in the prevalence of conditions causing neuropathic pain, such as spinal stenosis and diabetic neuropathy, is a key factor driving market growth. Additionally, chemotherapy-induced peripheral neuropathy, a common side effect of cancer treatments, further propels the demand for neuropathic pain medications. According to the American Cancer Society, numerous new cancer cases were diagnosed in the U.S. in 2021, emphasizing the need for effective pain management solutions. However, challenges such as high cost of drug development and stringent regulatory approvals restrain demand for the Global Neuropathic Pain Market during the forecast period 2024-2032.

The key regions considered for the Global Neuropathic Pain Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. In 2023, North America was the dominating regional market in terms of revenue. The region boasts advanced healthcare infrastructure and high healthcare expenditure, which facilitates extensive research and development in pain management therapies. The prevalence of chronic diseases, such as diabetes and cancer, which often lead to neuropathic pain, is relatively high in North America, driving demand for effective treatments. Furthermore, the presence of major pharmaceutical companies and research institutions accelerates the development and commercialization of innovative neuropathic pain medications and therapies. Regulatory bodies like the FDA provide a structured pathway for drug approvals, ensuring a steady pipeline of new treatments. Additionally, growing awareness about neuropathic pain among healthcare professionals and patients, along with strong support from healthcare insurance systems, further boosts the market. Furthermore, the Asia-Pacific region is expected to grow at the fastest rate over the forecast period 2024-2032.

Major market players included in this report are:

Abbott Laboratories

Collegium Pharmaceutical, Inc.

Eli Lilly and Company

Glenmark Pharmaceuticals Limited

Grünenthal

Mallinckrodt Pharmaceuticals

Novartis AG

Pfizer Inc.

Sun Pharmaceutical Industries Ltd.

Teva Pharmaceutical Industries Ltd

The detailed segments and sub-segment of the market are explained below:

By Drug Class:

Antidepressants

Tricyclic Antidepressants

Serotonin–Noradrenaline Reuptake Inhibitors (SNRI)

Anticonvulsant

Opioids

Capsaicin

Others

By Indication:

Diabetic Neuropathy

Spinal Stenosis

Chemotherapy-Induced Peripheral Neuropathy

Others

By Distribution Channel:

Hospital Pharmacies

Drugs Stores and Retail Pharmacies

Online Pharmacies

By Region:

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

Australia

India

South Korea

Rest of Asia Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.