Neuropathic Pain Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Neuropathic Pain market studied is anticipated to grow with a CAGR of nearly 5.4%, during the forecast period. Certain factors that are driving the market growth includes the rising prevalence of diabetic neuropathy and other targeted diseases and increasing healthcare expenditure and research funding. As per the 2018 report published by Kelsey Juster-Switlyk et al, Diabetes has become one of the largest global health-care problems. The number of people with diabetes worldwide is projected to double between 2000 and 2030, reaching a pandemic level of 366 million people. 

Diabetic polyneuropathy (DPN) has a lifetime prevalence of nearly 50%, and it is the most common diabetic complication. DPN is a prominent cause for disability due to foot ulceration and amputation, gait disturbance, and fall-related injury. Around 20 to 30% of patients with DPN suffer from neuropathic pain. DPN significantly lowers the quality of life and substantially increases the health costs associated with diabetes. The total annual medical costs for diabetes is USD 6,632 per patient. People suffering from DPN experience a twofold increase in health-care costs (USD 12,492), and those with severe painful peripheral neuropathy experience a fourfold increase (USD 30,755).

All these afore-mentioned factors are boosting the growth in demand for effective medication in order to treat and cure neuropathic pain.

Scope of the Report

As per the scope, neuropathic pain refers to the pain caused by damage or disease affecting the somatosensory nervous system. The disease is relatively common but often poorly treated. The market studied is segmented on the basis of indication, drug class, distribution channel and geography.

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Key Market Trends

Opioid Holds Significant Share in the Neuropathic Pain Market

Opioids are considered as some of the most effective drugs for management of pain. Moreover, their use in the management of severe pain and chronic pain, which are associated with advanced medical illness, is considered to be standard practice in most parts of the world. An agonist is a drug that triggers certain receptors in the brain. Methadone (strong) agonist therapy is an effective treatment for addiction to opioid drugs (such as heroin). Strong agonist opioids activate opioid receptors, and after binding tightly, undergo significant conformational changes. Strong agonists include codeine, fentanyl, heroin, hydrocodone, methadone, morphine, and oxycodone.

As per the US Department of Health and Human Services and National Institutes of Health, in 2015, 25.4 million Americans adults experienced pain daily. These statistics indicates the importance of pain management and impacts the opioid segment positively.

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