Global Neuropathic Pain Market

Global Neuropathic Pain Market

Global Neuropathic Pain Market, By Type (Spinal Cord Stimulation (SCS) Devices, External Peripheral Nerve Stimulation, Transcutaneous Electrical Nerve Stimulation (Tens) Devices), Product Type (Rechargeable and Non-Rechargeable), Procedure (Invasive and Non-Invasive), Technology (Transcutaneous Electrical Nerve Stimulation, Transcranial Magnetic Stimulation and Respiratory Electrical Stimulation), Modality (Stationary and Portable), Mode of Purchase (Over-the-Counter Devices and Prescription-Based Devices), Pain Type (Peripheral Neuropathy, Entrapment Neuropathy, Phantom Limb Neuropathy, Trigeminal Neuralgia, Post Herpetic Neuralgia (PHN), Post Traumatic Neuropathy, Foot Pain, Coccydynia), Indication (Spinal Stenosis, Chemotherapy-Induced Peripheral Neuropathy, Diabetic Neuropathy, Others), End User (Hospitals, Clinics, Home Healthcare,?Ambulatory Surgical Centers?and Others), Distribution Channel (Direct Tender, Third Party Distributor and Others), Country (U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Ireland, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel And Rest Of Middle East And Africa, Brazil, Argentina And Rest of South America) Industry Trends and Forecast to 2030 

 Market Analysis and Insights: Global Neuropathic Pain Market 

From 2023 to 2030, the worldwide neuropathic pain market is predicted to increase at a CAGR of 9.2%. The market is being pushed by the rising prevalence of chronic pain and neuropathic pain syndromes linked to a variety of illnesses. Neuropathic pain is caused by a somatosensory system lesion or illness and affects 7-10% of the general population. Multiple causes of neuropathic pain have been identified, and its prevalence is expected to rise due to an ageing global population, an increase in diabetes mellitus, and improved cancer survival following treatment. 

The industry is also being pushed by rising R&D expenditures by major market participants in order to develop better goods. However, the market is constrained by limits associated with medical equipment, which limit product application. Furthermore, the usage of traditional medicines in emerging nations due to poor health spending and a disrupted supply chain is projected to provide a hurdle to market expansion. 

The market for neuropathic pain is classified into three categories: kind, end-user, and geography. The market is separated into two segments: peripheral and central neuropathic pain. End-user categories in the market include hospitals, clinics, home healthcare, and ambulatory surgery centres. North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa make up the market. 

The North American market is expected to lead the global neuropathic pain market throughout the projected period. This is due to the high incidence of chronic pain and neuropathic pain disorders in the region. In addition, the existence of a large number of market rivals in the area is expected to boost market growth. 

During the projection period, the Asia Pacific market is predicted to be the fastest expanding. This is related to the region's ageing population, which is increasing the prevalence of chronic pain and neuropathic pain syndromes. Furthermore, increased knowledge regarding neuropathic pain and its treatment alternatives is likely to fuel market expansion in the area. 

The neuropathic pain market report provides a detailed analysis of the market, including its drivers, restraints, opportunities, and challenges. The report also provides a detailed analysis of the competitive landscape of the market. The report also provides a detailed analysis of the market segments, including their growth prospects. 

The report concludes with a SWOT analysis of the market. The SWOT analysis provides a detailed analysis of the strengths, weaknesses, opportunities, and threats of the market. The report also provides a detailed analysis of the competitive landscape of the market. 

Neuropathic Pain Market Scope and Market Size 

The neuropathic pain market is segmented by type, product type, procedure, technology, modality, mode of purchase, pain type, indication, end-user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets. 

By type 

• Spinal cord stimulation (SCS) devices 

• External peripheral nerve stimulation 

• Transcutaneous electrical nerve stimulation (TENS) devices 

The spinal cord stimulation (SCS) devices segment dominated the neuropathic pain market in 2023 due to the vast usage of these devices for various neuropathic pain indications and the wide range of the products available in the market. 

By product type 

• Rechargeable 

• Non-rechargeable 

The rechargeable segment is expected to show significant growth in the neuropathic pain market due to rechargeable devices avoiding the surgical replacement of the discharged battery in traditional devices. 

By procedure 

• Invasive 

• Non-invasive 

The invasive segment is expected to dominate the neuropathic pain market in 2023 because these devices available in the market are generally operating by invasive procedures that generally provide better efficiency for neuropathic pain. 

By technology 

• Transcutaneous electrical nerve stimulation 

• Transcranial magnetic stimulation 

• Respiratory electrical stimulation 

The transcutaneous electrical nerve stimulation segment is expected to show significant growth in the neuropathic pain market due to transcutaneous electrical nerve stimulation being a non-invasive, inexpensive, self-administered technique to relieve pain. Due to the growing technological advancement, these devices are increasing their market size. 

By Modality 

• Stationary 

• Portable 

The stationary devices segment is expected to show significant growth rate in the neuropathic pain market due to rising incidences of chronic diseases such as cancer, cardiovascular, neurovascular disease, and musculoskeletal diseases which generally include RF generators and other devices which are stationary in nature. 

By mode of purchase 

• Over-the-counter devices 

• Prescription-based devices 

The prescription-based devices segment is expected to dominate the neuropathic pain market in 2023 due to the wide range of products available as prescription-based devices increase the market share of the segment. 

By pain type 

• Peripheral neuropathy 

• Entrapment neuropathy 

• Phantom limb neuropathy 

• Trigeminal neuralgia 

• Post herpetic neuralgia (PHN) 

• Post traumatic neuropathy 

• Foot pain 

• Coccydynia 

The peripheral neuropathy segment is expected to show the significant growth in the neuropathic pain market due to the increasing prevalence of peripheral neuropathy across the globe. 

By indication 

• Spinal stenosis 

• Chemotherapy-induced peripheral neuropathy 

• Diabetic neuropathy 

• Others 

The diabetic neuropathy segment is likely to dominate the neuropathic pain market in 2023 due to the changing lifestyle pattern resulting in rising cases of diabetic patients at an early age. 

By end-user 

• Hospitals 

• Clinics 

• Home healthcare 

• Ambulatory surgical centers 

• Others 

The hospitals segment is growing in the neuropathic pain market due to trained professionals as the hospitals department has a well-trained staffs with a professional team for proper and better treatment of the patients. 

By distribution channel 

• Direct tender 

• Third party distributor 

• Others 

The direct tender segment accelerates the revenue growth and provides tax benefits owing to which the direct tender segment is flourishing for the last few years.  

Neuropathic Pain Market Country Level Analysis 

The neuropathic pain market is examined, and market size data is supplied by nation, kind, product type, technique, technology, modality, mode of purchase, pain type, indication, end user, and distribution channel, as previously said. 

The countries covered in the neuropathic pain market report are the U.S., Canada and Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Austria, Ireland, and Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa, Brazil, Argentina, and rest of South America.   

Because of the increased demand for neuropathic pain devices in healthcare, the spinal cord stimulation sector in North America is predicted to develop at the fastest rate during the projection period of 2023 to 2030. Because of the rising prevalence of chronic pain and technological advancements in the healthcare sector, China is the leading country in the Asia-Pacific neuropathic pain market. Because to advancements in healthcare expenditure and finance, the United Kingdom dominates the European market. 

The nation portion of the research also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends.  

Growing Strategic Activities by Major Market Players to Enhance the Awareness for Neuropathic Pain, is Boosting the Market Growth of Neuropathic Pain Market. 

Neuropathic pain market also provides you with detailed market analysis for every country growth in neuropathic pain industry. Moreover, it provides detailed information regarding neuropathic pain sales, impact of regulatory scenarios, and trending parameters regarding neuropathic pain market. The data is available for historic period 2010 to 2019. 

Competitive Landscape and Neuropathic Pain Market Share Analysis 

The competitive landscape of the neuropathic pain market includes information by competitor. Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve are all included. The data points presented above are only relevant to the company's emphasis on the neuropathic pain sector. 

The major companies providing Neuropathic pain in the global Neuropathic pain market are NERVO CORP., SPT Therapeutics, Stimwave LLC, AVNS, Cirtec, Integer Holdings Corporation, B. Braun Melsungen AG, Medtronic, Abbott, Boston Scientific Corporation, Omron Healthcare Inc., electroCore, Inc., Polar Medical, SunMed, and NeuroMetrix, Inc. among others. 

Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the neuropathic pain market. 

• In December 2023, Boston Scientific Corporation announced that they have launched WaveWriter Alpha Spinal Cord Stimulator Systems. This product is used for chronic pain and can be used in the neuropathic pain. This launch will add up to the revenue of the company and will gain the market share in the forecasted period. 

Collaboration, joint ventures and other strategies by the market players is enhancing the company footprints in the neuropathic pain market which also provides the benefit for organisation in its growth pace. 

What is Neuropathic Pain Market Report about? 

This report discusses the commercial and clinical activity, providing insights on the total size of the potential opportunity, key segments driving growth, key challenges faced, and a thorough analysis of market competition by product, geography, indication, and forecasts through 2030. Detailed coverage of the approved therapies, including regulatory approvals, pricing, reimbursement, and market penetration. 

So, a new investor can potentially gain information about competitors, their key products, their core strategy, key trends in the market, and more. 

This report is essential for all stakeholders including research companies, manufacturing companies, distribution companies, government agencies, and others to: 

• Capitalize on rapidly emerging trends. 

• Optimize decision-making. 

• Reduce company risk. 

• Approach partners/investors for collaboration or funding. 

• Implement an informed and advantageous business strategy in 2023. 

• Detailed coverage of the approved products, including regulatory approvals, pricing, reimbursement, and market penetration. 

• Profiles of leading & upcoming competitors composing the global marketplace.