Neuralgia Treatment Market Worth USD 2.8 Billion By 2027

According to an expansive report by Grand View Research, there has been a healthy rise in demand for neuralgia treatment across the globe, owing to a number of enabling factors such as the rapidly growing aging population, and a continued increase in the number of diabetes cases.

The global neuralgia treatment market is projected to be worth USD 2.8 billion by the year 2027, advancing at a CAGR of 6.0%, as per a study by Grand View Research, Inc. Neuralgia is a condition wherein an irritated or damaged nerve causes a very severe pain to the concerned individual. Neuralgia is mainly of three types — postherpetic, trigeminal, and glossopharyngeal. The chronic nerve pain can occur due to a number of factors such as infection, diabetes, aging, multiple sclerosis, or any similar disorders that damage the myelin sheath protecting certain nerves. Additionally, a tumor compressing the trigeminal nerve can also cause the disorder. A continued rise in the geriatric population, increasing incidence of trigeminal neuralgia, and the growing prevalence of diabetes have led to an increase in neuralgia cases globally. Consequently, these are the major drivers of the neuralgia treatment market.

The prevalence of chronic pain in the trigeminal nerve increases with the aging population. According to the WHO, the global geriatric population is projected to rise to approximately 2 billion in 2050. This demographic is prone to a number of diseases, which include diabetes and trigeminal neuralgia. Thus, the demand for treatment of neuralgia is expected to witness positive growth in the future due to such conditions. The American Association of Neuromuscular and Electrodiagnostic Medicine has pointed out that the disorder generally affects the population of or above 50 years of age. It also reported that women are more prone to trigeminal neuralgia than men. Furthermore, data from the National Organization for Rare Disorders states that around 10,000–15,000 new cases of trigeminal neuralgia are reported in the United States every year. As such, there is a healthy demand for neuralgia treatment among the general population. Stereotactic radiosurgery and microvascular decompression are the two most common procedures being adopted to treat the disorder.

Neuralgia Treatment Market Report Highlights

  • Postherpetic neuralgia can be anywhere on the body, and is caused due to shingles complication, a viral infection characterized by blisters and a painful rash. Glossopharyngeal neuralgia produces pain in the throat and neck, but is not very common globally
  • Trigeminal neuralgia, also known as tic douloureux, is most common in people above 50 years of age, and is caused due to pain from the trigeminal nerve, which has 3 branches — ophthalmic, maxillary, and mandibular. Most commonly, it is known to affect the mandibular branch, or the lower part of the face
  • As per the study, The Patient’s Journey Through Trigeminal Neuralgia published by the International Association for The Study of Pain (IASP), the incidence rate of trigeminal neuralgia is 3.4 to 5.9 per 100,000 people
  • There has been a steady growth across the globe, of multiple sclerosis incidences. According to the Multiple Sclerosis Trust, U.K., as of 2020, about 2.5 million people are suffering from multiple sclerosis globally. This disorder, being a notable contributor to the rising incidences of neuralgia, has aided the growth of the neuralgia treatment market
  • Diabetes has been one of the most notable chronic disorder worldwide, and its rising prevalence has led to increased incidences of neuralgia among the population. Data from the American Diabetes Association in 2018 stated that 34.2 million Americans had diabetes, accounting for 10.5% of the entire regional population
  • In terms of treatment, the surgery segment held the largest share in the neuralgia treatment market in 2019 due to rising awareness regarding treatment procedures and the high cost of surgeries. The surgery segment has been further sub-segmented into Radiofrequency Thermal Lesioning, Stereotactic Radiosurgery, Microvascular Decompression, and others
  • In terms of region, the North America market held the largest revenue share in 2019 with regards to neuralgia treatment, owing to the presence of key players in the region. On the other hand, Asia Pacific is anticipated to show highest growth in this market through 2028, owing to the rapidly rising geriatric population and increasing incidences of diabetes in the region
  • Companies are involved in strategies such as partnerships, acquisitions, and new product launches in order to stake claim in the neuralgia treatment market. For instance, in August 2021, Novartis announced that it has entered into an agreement with Yuyu Pharma, a Korea-based company, for domestic distribution of the former’s Lamisil, Lescol, and Tegretol, the latter effective in combating trigeminal neuralgia

Neuralgia Treatment Market Segmentation

Grand View Research has segmented the global neuralgia treatment market on the basis of treatment, end-use, and region:

Neuralgia Treatment Outlook (Revenue, USD Million, 2016–2027)

  • Drug Based
  • Anticonvulsant Medicines
  • Tricyclic Antidepressants
  • Surgery
  • Radiofrequency Thermal Lesioning
  • Stereotactic Radiosurgery
  • Microvascular Decompression
  • Others

Neuralgia Treatment End-use Outlook (Revenue, USD Million, 2016–2027)

  • Hospital & Clinics
  • Ambulatory Surgery Centers
  • Others

Neuralgia Treatment Regional Outlook (Revenue, USD Million, 2016–2027)

  • North America
  • The U.S.
  • Canada
  • Europe
  • The U.K.
  • Germany
  • Asia Pacific
  • Japan
  • China
  • Latin America
  • Brazil
  • Mexico
  • MEA
  • South Africa
  • Saudi Arabia

List of Key Players of Neuralgia Treatment Market

  • GlaxoSmithKline PLC
  • Pfizer Inc.
  • Novartis AG
  • Biogen
  • Cadila Healthcare Limited
  • Lundbeck Pharmaceuticals LLC

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