Global Neuropathic Pain Market - 2024 -2031

The global neuropathic pain market reached US$7.76 billion in 2023 and is expected to reach US$14.97 billion by 2031, growing at a CAGR of 8.6 % during the forecast period 2024-2031.

Neuropathic pain is now defined as "pain caused by a lesion or disease of the somatosensory nervous system" This revision replaces the older definition, which described neuropathic pain as "pain initiated or caused by a primary lesion, dysfunction, or transitory perturbation of the peripheral or central nervous system."

The global neuropathic pain market represents a crucial segment of the healthcare industry, dedicated to the development and commercialization of treatments for neuropathic pain, which is caused by damage or dysfunction in the nervous system. This market is currently experiencing significant growth driven by several factors, including the rising prevalence of chronic diseases such as diabetes and cancer, advancements in treatment technologies, and an enhanced understanding of the underlying mechanisms of neuropathic pain. These factors have driven the global neuropathic pain market expansion.

Market Dynamics: Drivers & Restraints

Increasing Prevalence of Diabetic Neuropathy

The increasing prevalence of diabetic neuropathy is significantly driving the growth of the global neuropathic pain market. It is expected to drive throughout the market forecast period.

As diabetes is a leading cause of neuropathic pain, the increasing number of diabetic patients directly correlates with a higher prevalence of diabetic neuropathy. Diabetic neuropathy is one of the most prevalent complications associated with diabetes. This prevalence can vary based on geographical location and demographic factors. This rise is primarily linked to the growing incidence of diabetes, which is one of the leading causes of neuropathic pain, alongside conditions such as cancer and multiple sclerosis.

According to the National Center for Biotechnology Information (NCBI) research publication in February 2024, at the time of diabetes diagnosis, literature estimates indicate that 10% to 20% of patients are concurrently diagnosed with diabetic peripheral neuropathy (DPN). However, studies focusing on individuals with long-standing diabetes mellitus report a higher prevalence of DPN among these patients. After five years, approximately 26% of individuals develop peripheral neuropathy, and this figure rises to 41% after ten years. Overall, the literature suggests that between 50% to 66% of individuals with diabetes will eventually develop DPN during their lifetime.

DPN can occur in both type 1 and type 2 diabetes, but its prevalence is notably higher in individuals with type 2 diabetes, primarily due to the longer duration of the disease and the higher incidence of associated comorbidities. Additionally, diabetes mellitus is recognized as the most common cause of Charcot neuroarthropathy, with an incidence rate ranging from 0.1% to 0.4%, and this rate can be as high as 29% among patients who already have peripheral neuropathy. All these factors demand the global neuropathic pain market.

Furthermore, key players in the industry product launches and approvals that would drive this global neuropathic pain market growth. For instance, in July 2022, the Food and Drug Administration (FDA) approved the First Relief device, a percutaneous electrical neurostimulation (PENS) system developed by DyAnsys, specifically for treating pain associated with diabetic peripheral neuropathy (DPN). This approval marks a significant advancement in non-invasive pain management options for individuals suffering from this common complication of diabetes.

Also, in January 2022, Medtronic plc received FDA approval for its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator, both designed for the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN). This approval expands treatment options for patients suffering from DPN, a common complication of diabetes that affects approximately 30% of individuals with the condition.

Moreover, the rising demand for rising demand for personalized medicine contributes to the global neuropathic pain market expansion.

Side Effects of Medications

The side effects of medications will hinder the growth of the global neuropathic pain market. The treatment of neuropathic pain often involves a variety of medications, including anticonvulsants, antidepressants, and opioids. While these medications can be effective, they are also associated with a range of side effects that can significantly impact patient adherence and overall quality of life.

One of the major complications associated with diabetes is diabetic neuropathy, which primarily affects the nerves, particularly those extending to the feet. This condition arises from prolonged high blood sugar levels, which can damage nerve fibers over time.

Anticonvulsants such as gabapentin and pregabalin are commonly prescribed for the management of neuropathic pain. However, these medications can lead to several side effects that may impact patient compliance. Patients using gabapentin and pregabalin may experience a range of adverse effects, including dizziness, drowsiness, nausea, and peripheral swelling.

These side effects can be intolerable for some individuals, leading them to discontinue the medication. Additionally, other potential side effects may include blurred vision and mood fluctuations, which can further discourage patients from adhering to their treatment plans.

The presence of these adverse reactions not only affects the effectiveness of pain management but can also diminish the overall quality of life for patients. Consequently, healthcare providers may need to explore alternative therapies or adjust dosages, which can complicate treatment regimens and increase healthcare costs. Thus, the above factors could be limiting the global neuropathic pain market's potential growth.

Segment Analysis

The global neuropathic pain market is segmented based on type, treatment type, distribution channel, and region.

Type:

The diabetic neuropathy segment is expected to dominate the global neuropathic pain market share

The diabetic neuropathy segment holds a major portion of the global neuropathic pain market share and is expected to continue to hold a significant portion of the global neuropathic pain market share during the forecast period.

Diabetic neuropathy is a significant segment within the global neuropathic pain market, characterized by nerve damage resulting from diabetes. This condition primarily affects the feet and legs, leading to various complications that can severely impact patients' quality of life. Diabetic neuropathy refers to a range of nerve disorders caused by diabetes, affecting approximately 50% to 66% of individuals with diabetes at some point in their lives. It can manifest in different forms, including peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy.

The growing prevalence of obesity, often linked to sedentary lifestyles and poor dietary habits, contributes to the rising incidence of diabetes and subsequently diabetic neuropathy. In regions like the United States, where obesity rates are climbing, there is a corresponding increase in cases of diabetic neuropathy. The escalating number of diabetes cases worldwide is a primary driver for the diabetic neuropathy segment. Projections indicate that the number of adults affected by diabetes will continue to rise significantly, leading to an increased incidence of diabetic neuropathy.

Ongoing research and development efforts are leading to the introduction of novel therapeutics aimed at effectively managing diabetic neuropathy. The launch of new products specifically designed for treating diabetic nerve pain is expected to enhance global neuropathic pain market growth.

Furthermore, key players in the industry more focus on the clinical trials that would drive this segment's growth in the global neuropathic pain market. For instnace, in May 2024, Medidata, was been selected by Lexicon Pharmaceuticals, Inc. to support the advancement of the PROGRESS study, a Phase 2b clinical trial evaluating LX9211 for the treatment of diabetic peripheral neuropathic pain (DPNP). This collaboration is particularly significant as LX9211 has the potential to become the first new non-opioid medication approved for neuropathic pain in over two decades. These factors have solidified the segment's position in the global neuropathic pain market.

Geographical Analysis

North America is expected to hold a significant position in the global neuropathic pain market share

North America holds a substantial position in the global neuropathic pain market and is expected to hold most of the market share.

The increasing incidence of neuropathic pain conditions, particularly among the aging population, significantly fuels market demand. As the population ages, the prevalence of chronic diseases such as diabetes and cancer, which are known to cause neuropathic pain continues to rise. This demographic shift leads to a greater need for effective pain management solutions.

As per Abbott news in January 2023, approximately 34.2 million Americans, or 10.5% of the U.S. population, are affected by diabetes, a chronic condition characterized by high blood sugar levels. It is estimated that around 50% of adults with diabetes will develop some form of peripheral neuropathy during their lifetime. This underscores the widespread nature of this complication among diabetic patients.

The rise in diabetes cases in North America is a major contributor to the neuropathic pain market. It is projected that over 55 million adults in North America will be affected by diabetes by 2030, leading to a corresponding increase in diabetic neuropathy cases. This growing burden creates a substantial demand for effective therapeutic options.

Ongoing research and development efforts are leading to the introduction of novel therapeutics specifically designed for neuropathic pain management. Innovative drug formulations and combination therapies are being developed to target multiple pain pathways, enhancing treatment efficacy and patient outcomes.

Moreover, in this region, a major number of key players' presence, well-advanced infrastructure, government initiatives & regulatory support, investments, and product launches & approvals would propel the global neuropathic pain market. For instnace, in April 2024, in the U.S. Vertex Pharmaceuticals made significant strides in its development of suzetrigine (formerly known as VX-548), an investigational oral medication designed to treat acute and neuropathic pain. This drug represents a potential breakthrough as it could be the first new class of medicine for pain management in over 20 years, specifically targeting the NaV1.8 sodium channel, which plays a crucial role in transmitting pain signals in the nervous system.

Also, in January 2023, Abbott received FDA approval for its Proclaim XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a common and debilitating complication of diabetes. This approval provides an alternative treatment option for patients suffering from DPN who may not find relief from traditional methods, such as oral medications. Thus, the above factors are consolidating the region's position as a dominant force in the global neuropathic pain market.

Asia Pacific is growing at the fastest pace in the global neuropathic pain market share

Asia Pacific holds the fastest pace in the global neuropathic pain market and is expected to hold most of the market share.

The Asia-Pacific region is witnessing an increase in the prevalence of neuropathic pain, largely due to an aging population and a rise in chronic diseases such as diabetes and cancer. This surge in patient numbers creates a significant demand for effective pain management solutions. Improvements in healthcare infrastructure across Asia-Pacific nations are enhancing access to diagnosis and treatment options for neuropathic pain.

Significant investments in research and development for neuropathic pain treatments are being made by pharmaceutical companies and government organizations. For instance, R&D spending for peripheral neuropathy in the region was estimated at USD 194 million in 2022, with expectations for further increases. This focus on innovation is anticipated to yield new therapies that effectively address unmet medical needs.

The development of novel therapies, including medications and medical devices specifically designed for neuropathic pain management, is stimulating market growth. These innovations offer improved pain relief with fewer side effects, attracting both healthcare providers and patients. Ongoing technological advancements in medical devices and treatment methodologies are likely to yield more effective and less invasive options for managing neuropathic pain. This progress provides opportunities for companies to introduce innovative products that meet evolving patient needs.

The escalating incidence of diabetes in countries like India and China is a major contributor to the neuropathic pain market. Projections indicate that millions more adults will be affected by diabetes in the coming years, leading to a corresponding increase in cases of diabetic neuropathy and driving demand for therapeutic options.

Countries such as China and India are making strides in their healthcare systems, facilitating better patient care and increasing global neuropathic pain market growth potential. Furthermore, key players' strategies such as partnerships & collaborations, and product launches would drive this global neuropathic pain market growth. For instance, in February 2023, Anglo-French Drugs & Industries Ltd., based in Bengaluru, launched a new product called AFD-NP, specifically targeting the treatment of moderate to severe neuropathic pain. This product is a combination of two active ingredients: Nortriptyline (10 mg) and Pregabalin (75 mg). The launch has received approval from the Drug Control Department, indicating that it meets regulatory standards for safety and efficacy.

Also, in July 2022, in China, Novaremed AG and NeuroFront Therapeutics (Hong Kong) Limited entered into an exclusive collaboration and commercialization agreement for Novaremed's investigational drug, NRD.E1. This innovative non-opioid therapy is being developed to treat diabetes-related neuropathic pain and other neuropathic pain conditions. The agreement outlines a financial structure that allows Novaremed to potentially receive over USD 130 million in various fees, milestone payments, and royalties on net sales.

Thus, the above factors are consolidating the region's position as the fastest-growing force in the global neuropathic pain market.

Competitive Landscape

The major global players in the neuropathic pain market include Pfizer Inc., AdvaCare Pharma, Eli Lilly and Company., Vertex Pharmaceuticals, Abbott, Medtronic, Nevro Corp., Grunenthal, Teva Pharmaceuticals Inc., and Sun Pharmaceutical Industries Ltd. among others.

Key Developments

• In November 2024, Grunenthal announced that its U.S. subsidiary, Averitas Pharma, Inc., has completed recruitment for the Phase III clinical trial known as AV001. This trial is designed to evaluate the efficacy, safety, and tolerability of QUTENZA (capsaicin) 8% topical system specifically for treating post-surgical neuropathic pain (PSNP). If the trial results are positive, they could support an extension of QUTENZA's label in the U.S. market.
• In January 2023, Neuralace Medical received FDA clearance for its innovative Axon Therapy, designed to treat chronic painful diabetic neuropathy (PDN). This approval is significant as it marks the first time a non-invasive magnetic peripheral nerve stimulation (mPNS) treatment has been authorized for PDN, offering a new approach to pain management for millions of individuals suffering from this condition.

Why Purchase the Report?

• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global neuropathic pain market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023

• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
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