Neuropathic Pain Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.29 Billion |
| Market Size (2029) | USD 11.60 Billion |
| CAGR (2024 - 2029) | 9.74 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Neuropathic Pain Market Analysis
The Neuropathic Pain Market size is estimated at USD 7.29 billion in 2024, and is expected to reach USD 11.60 billion by 2029, at a CAGR of 9.74% during the forecast period (2024-2029).
The growing burden of diabetics, which leads to an increase in the cases of diabetes neuropathy and associated pain, is likely to increase demand for its treatment and management. This is anticipated to contribute to the growth of the market studied over the forecast period. For instance, as per the International Diabetes Federation (IDF) in 2022, an estimated 643 million adults aged 20 to 79 are expected to be affected by diabetes by 2030 and 783 million by 2045. Such a high burden of diseases that can lead to neuropathic pain creates the need for therapeutics for the treatment and thus augments the growth of the market.
Furthermore, growing awareness of neuropathic pain is expected to increase demand for treatment and management, thereby boosting the market’s growth. For instance, in July 2024, Australia's National Pain Week, an annual event, shone a spotlight on chronic pain, highlighting the challenges faced by those living with it. The event was particularly crucial for individuals dealing with brain and spinal cord injuries, persistent pain, and other disabilities. Moreover, it played a pivotal role in helping pain researchers, clinicians, and allied health professionals better understand the experiences of their clients and collaborators. Such awareness initiatives are expected to lead to creating awareness among patients and healthcare professionals, thereby increasing demand for its treatment and contributing to the market’s growth.
The approval of the drugs by the regulatory bodies also contributes significantly to the growth of the market. For instance, in March 2022, Daiichi Sankyo Company Limited received approval in Japan to change the indication of the analgesic Tarlige Tablets (pregabalin besylate) from 'peripheral neuropathic pain' to 'neuropathic pain.' Such approvals expand the availability of neuropathic pain therapeutics, thereby accelerating the market’s growth.
Therefore, owing to the above-mentioned factors, the market is expected to witness growth over the forecast period. However, the side effects of treatments and the availability of counterfeit drugs may hinder the growth of the market.
Neuropathic Pain Market Trends
Diabetic Neuropathy Segment is Expected to Register a Healthy Growth Share Over the Forecast Period.
The diabetic neuropathy segment is anticipated to witness healthy growth over the forecast period. The major factors driving the growth of the segment are the increasing burden of the targeted diseases and the launch of the products for their treatment.
Sedentary and unhealthy lifestyles are major factors that contribute to the significant prevalence of diabetes around the world. For instance, according to the article regarding epidemiology and classification of diabetic neuropathy updated in January 2022, diabetic polyneuropathy is the most common neuropathy in developed countries. It also reported that approximately 50% of patients with diabetes gradually develop neuropathy. Such studies demonstrating the chances of neuropathy in diabetic patients suggest that there is a growing burden of this disease. Hence, this market segment is expected to witness growth over the forecast period.
The increasing research studies and clinical trials can also lead to the development of new products and thus may drive the growth of the segment in the future. For instance, in December 2023, Vertex Pharmaceuticals Incorporated reported encouraging outcomes from its Phase 2 trial, assessing VX-548, a selective NaV1.8 inhibitor, in individuals suffering from painful diabetic peripheral neuropathy (DPN). VX-548 showcased a notable and statistically significant reduction in the primary endpoint across all administered doses: the average weekly pain intensity, as measured on the Numeric Pain Rating Scale (NPRS), at the 12-week mark. Notably, the study featured an active reference group using pregabalin, enhancing the assessment of VX-548's efficacy.
Thus, owing to the above-mentioned factors, such as the high burden of diabetic neuropathy and rising clinical trial developments, the market segment is expected to witness growth over the forecast period.
North America is Expected to Hold a Major Share in the Neuropathic Pain Market Over the Forecast Period
North America is expected to hold a significant market share because of the high burden of neuropathic diseases, rising research and development spending, and the strong presence of market players.
As per the International Diabetes Federation (IDF) 2022 report, the number of diabetes patients in North America is projected to reach over 55 million by 2030. The rising burden of diabetes in the region is expected to attract opportunities for market growth in the area.
In addition, as per the article published by the National Institute of Health (NIH) in May 2022, the estimated R&D spending in the United States for peripheral neuropathy was USD 194 million in 2022 and USD 225 million in 2023. The grant provided by the government for research on peripheral neuropathy is expected to create opportunities for market players to develop an efficient drug that is further expected to propel market growth in the upcoming years.
Strategic initiatives such as research and development, launches, and partnerships by market players also contribute significantly to the neuropathic pain market’s growth in the region. For instance, in April 2024, Vertex Pharmaceuticals' suzetrigine, formerly known as VX-548, was making significant progress in its rolling submission for approval, which was granted by the US Food and Drug Administration (FDA) for the treatment of moderate-to-severe acute pain.
Thus, owing to factors such as high research and development and clinical trial activities, the neuropathic pain market in North America is expected to witness growth over the forecast period.
Neuropathic Pain Industry Overview
The neuropathic pain market is moderately competitive and consists of a few major players. Companies like Grünenthal, Mallinckrodt Pharmaceuticals, GlaxoSmithKline PLC, J Pfizer Inc., Cipla Inc., Glenmark, Sun Pharmaceutical Industries Ltd, and Teva Pharmaceutical Industries Ltd occupy a substantial market share.
Neuropathic Pain Market Leaders
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Grünenthal
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Mallinckrodt Pharmaceuticals
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Pfizer, Inc.
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Novartis AG
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Teva Pharmaceutical Industries Ltd.
*Disclaimer: Major Players sorted in no particular order
Neuropathic Pain Market News
- May 2024: Lexicon Pharmaceuticals Inc. chose Medidata, a Dassault Systèmes company, to propel its PROGRESS initiative. PROGRESS is a Phase 2b study of LX9211 aimed at treating diabetic peripheral neuropathic pain (DPNP). If successful, LX9211 could mark the first non-opioid drug approval for neuropathic pain in over two decades. By partnering with Medidata, Lexicon aims to expedite patient enrollment and streamline clinical trials for its AAK1 inhibitor, LX9211. This collaboration not only seeks to hasten the drug's development but also underscores a commitment to enhancing the overall patient journey, especially given the pressing need for effective chronic neuropathic pain treatments.
- February 2023: Anglo-French Drugs & Industries Ltd announced the release of a new product called AFD-NP to treat moderate to severe neuropathic pain.
Neuropathic Pain Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Diabetic Neuropathy and Other Targeted Diseases
4.2.2 Increasing Healthcare Expenditure and Research Funding
4.3 Market Restraints
4.3.1 Side Effects of Treatments and Availability of Counterfeit Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Indication
5.1.1 Diabetic Neuropathy
5.1.2 Spinal Stenosis
5.1.3 Chemotherapy-induced Peripheral Neuropathy
5.1.4 Other Indications
5.2 By Drug Class
5.2.1 Tricyclic Antidepressants
5.2.2 Opioids
5.2.3 Capsaicin Cream
5.2.4 Steroids
5.2.5 Other Drug Classes
5.3 By Distribution Channel
5.3.1 Hospital Pharmacies
5.3.2 Retail Pharmacies
5.3.3 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Grünenthal
6.1.2 Mallinckrodt Pharmaceuticals
6.1.3 GlaxoSmithKline PLC
6.1.4 Pfizer Inc.
6.1.5 Cipla Inc. (InvaGen Pharma)
6.1.6 Glenmark
6.1.7 Centaur Pharmaceuticals
6.1.8 Sun Pharmaceutical Industries Ltd
6.1.9 Teva Pharmaceutical Industries Ltd
6.1.10 Dr. Reddy's Laboratories Ltd
6.1.11 Lupin Ltd
6.1.12 Laurus Labs
6.1.13 Lannett Co. Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Neuropathic Pain Industry Segmentation
As per the scope, neuropathic pain is caused by any damage or disease affecting the somatosensory nervous system. The condition is relatively common but often poorly treated.
The neuropathic pain market is segmented by indication, drug class, distribution, and geography. Based on indication, the market is segmented into diabetic neuropathy, spinal stenosis, chemotherapy-induced peripheral neuropathy, and other indications. Based on drug class, the market is segmented into tricyclic antidepressants, opioids, capsaicin cream, steroids, and other drug classes. Based on the distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and other distribution channels. Based on geography, the market is segmented into North America, Europe, the Middle East and Africa, Asia-Pacific, and South America. The report also covers the estimated market sizes and trends for 17 countries across significant global regions.
The report offers the value terms in USD for the above-mentioned segments.
| By Indication | |
| Diabetic Neuropathy | |
| Spinal Stenosis | |
| Chemotherapy-induced Peripheral Neuropathy | |
| Other Indications |
| By Drug Class | |
| Tricyclic Antidepressants | |
| Opioids | |
| Capsaicin Cream | |
| Steroids | |
| Other Drug Classes |
| By Distribution Channel | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| Other Distribution Channels |
| Geography | ||||||||
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Neuropathic Pain Market Research FAQs
How big is the Neuropathic Pain Market?
The Neuropathic Pain Market size is expected to reach USD 7.29 billion in 2024 and grow at a CAGR of 9.74% to reach USD 11.60 billion by 2029.
What is the current Neuropathic Pain Market size?
In 2024, the Neuropathic Pain Market size is expected to reach USD 7.29 billion.
Who are the key players in Neuropathic Pain Market?
Grünenthal, Mallinckrodt Pharmaceuticals, Pfizer, Inc., Novartis AG and Teva Pharmaceutical Industries Ltd. are the major companies operating in the Neuropathic Pain Market.
Which is the fastest growing region in Neuropathic Pain Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Neuropathic Pain Market?
In 2024, the North America accounts for the largest market share in Neuropathic Pain Market.
What years does this Neuropathic Pain Market cover, and what was the market size in 2023?
In 2023, the Neuropathic Pain Market size was estimated at USD 6.58 billion. The report covers the Neuropathic Pain Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Neuropathic Pain Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Neuropathic Pain Industry Report
Statistics for the 2024 Neuropathic Pain market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Neuropathic Pain analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
