Neuropathic Pain Market Size (2024 - 2029)

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 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.