NEURALGIA TREATMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Neuralgia Treatment Market Size and Trends

The global neuralgia treatment market is estimated to be valued at USD 2.41 Bn in 2024 and is expected to reach USD 3.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.

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The neuralgia treatment industry is expected to witness lucrative opportunities with innovations in drug delivery systems. Companies like Biogen are investing heavily in research and development of advanced drugs that have fewer side effects such as nanocarrier drug delivery systems. Furthermore, the demand for minimally invasive treatments for neuralgia like cryotherapy and radiofrequency ablation is expected to increase considerably over the forecast period providing attractive growth avenues.

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Insights By Drug Type - Anticonvulsants segment leads due to efficacy and tolerability

Based on drug type, anticonvulsants segment is expected to hold the largest market share of 28.1% in 2024 due to their effectiveness in neuropathic pain management and favorable tolerability. Carbamazepine, gabapentin, and pregabalin are commonly used, with carbamazepine being especially effective for trigeminal neuralgia. Gabapentin and pregabalin are preferred for their safety in elderly patients, promoting long-term therapy compliance.

Insights By Route of Administration - Oral administration gains prominence owing to convenience and safety

Based on route of administration, the oral segment leads the market with share of 32.12% in 2024 due to its convenience, minimal invasiveness, and safety. Oral drugs provide consistent pain control, reduce dosage frequency, and are preferred for self-administration, improving patient adherence.

Insights By Severity - Mild neuralgia cases are driving the segment growth

Based on severity, the mild segment is expected to dominate the market with share of 41.1% in 2024 due to easier management with conservative treatments and higher prevalence. Non-narcotic medications, topical agents, and lifestyle modifications are common, driving growth in this segment with cost-effective and less restrictive treatment options.

Regional Insights

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Regional Analysis:

Dominating Region: North America

North America dominates the neuralgia treatment industry with 39.2% market in 2024. This can be attributed to a well-established healthcare infrastructure, growing prevalence of nerve pain disorders, and presence of leading pharmaceutical manufacturers in the region. Favorable regulatory environment has enabled swift approval of new drug candidates, further consolidating North America's position.

Fastest-Growing Region: Asia Pacific

The Asia Pacific region exhibits the fastest growth, driven by rising healthcare expenditure, large patient population, and increasing focus of international players on emerging markets. Governments of various countries have initiated programs to raise awareness about nerve pain conditions and boost healthcare access.

Neuralgia Treatment Market Outlook for Key Countries

Rising Neurological Disorders in the U.S.

The U.S. neuralgia treatment industry held a dominant position in 2024, driven by the rising prevalence of neurological conditions and the growing demand for advanced treatments. For instance, as reported by the WHO in March 2024, over 3 billion people were affected by neurological disorders in 2021, making these conditions the leading cause of ill health and disability worldwide. Since 1990, disability-adjusted life years (DALYs) associated with neurological disorders have increased by 18%, with a disproportionately higher impact observed in low- and middle-income countries.

Clinical Trials in the U.K.

The U.K. neuralgia treatment industry is set for rapid growth due to strategic investments in innovative clinical trials. In April 2023, the U.K. launched the Octopus trial to explore repurposing existing drugs for multiple sclerosis (MS), affecting over 130,000 people. Funded by USD 16.78 million from the MS Society, the trial aims to test drugs like metformin and alpha lipoic acid. Led by UCLH, it plans to recruit 1,200 participants across 30 U.K. sites.

Increasing Demand for Non-Invasive Neuralgia Treatments in Japan

The Japan neuralgia treatment market is expected to grow rapidly, driven by increasing demand for advanced, non-invasive treatments. In October 2022, Accuray Incorporated’s CyberKnife System received reimbursement approval from Japan’s Ministry of Health, Labor, and Welfare for treating trigeminal neuralgia. This approval offers a precise, non-invasive alternative to the Gamma Knife system, providing a new treatment option for the 5,000 people affected by this debilitating condition in Japan.

Adoption of Minimally Invasive Procedures Drives Germany’s Neuralgia Treatment Market Growth

The Germany neuralgia treatment industry is estimated to hold a significant share in 2024, driven by the adoption of advanced, minimally invasive procedures for chronic pain management. In July 2024, NEW4MED GmbH, a MedTech company, introduced basivertebral nerve ablation (BVNA) therapy in Europe. This procedure targets the basivertebral nerve to relieve chronic lower back pain using radiofrequency energy. The 30-minute treatment involves a probe that destroys the nerve, preventing pain signal transmission.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Global Neuralgia Treatment Market Players

• Established Players: Leading companies in the global neuralgia treatment market, such as Pfizer, Novartis, and Johnson & Johnson, focus on continuous innovation through research and development (R&D) to expand their product portfolios. They often invest in clinical trials to introduce new, targeted therapies, enhance drug efficacy, and improve patient compliance. Strategic mergers and acquisitions also help them strengthen market presence and diversify offerings.
• Mid-Level Players: Companies like Mylan and Teva often differentiate themselves by focusing on cost-effective generics and biosimilars of existing neuralgia medications. They aim to expand their geographic presence, especially in emerging markets, while optimizing manufacturing processes for lower-cost production.
• Small Players: Smaller companies tend to focus on niche markets or novel treatment options, such as novel drug delivery systems or natural supplements. Their strategies often include targeting unmet needs in the neuralgia space or introducing alternative therapies with a strong value proposition for specific patient populations.

Emerging Startups in the Global Neuralgia Treatment Industry

Innovative Technologies: Startups like Neuropic develop digital therapeutics leveraging virtual/augmented reality for neuralgia pain management. Such novel software solutions could potentially complement drug-based treatments.

Sustainable Solutions: Axon Therapies focuses on developing non-opioid, oral medication using CBD and other plant-derived compounds. Its sustainable approach addresses the neuralgia market's pressing need for safer, less addictive options.

Market Contribution: Startups work with research institutes to address poorly understood diseases. Epien Medical partners with McGill University to develop genetic tools for identifying chronic pain risk factors and personalizing neuralgia care.

Neuralgia Treatment Industry News

• In July 2024, Adalvo Limited, a global pharmaceutical company, introduced Pregabalin Extended-Release (ER) tablets in Europe for the treatment of neuropathic pain. This new formulation provides the advantage of less frequent dosing, enhancing patient convenience and adherence to the treatment regimen.
• In April 2024, Vertex Pharmaceuticals, a pharmaceutical company, announced advancements in its suzetrigine (VX-548) pain treatment program, targeting neuralgia management
• In March 2024, Apollo Hospitals Group introduced the Zap-X Gyroscopic Radiosurgery Platform in Chennai, India offering precise, non-invasive treatment for brain tumors with improved accuracy, fewer side effects, and faster recovery times, enhancing patient outcomes in neurological care
• In January 2024, the U.S. FDA approved Neuralace Medical's Axon Therapy, a non-invasive neurostimulation treatment for painful diabetic neuropathy (PDN). The technology uses low-voltage electrical pulses to reduce nerve pain without drugs or invasive procedures.

Key Takeaways from Analyst

The global neuralgia treatment industry is expected to experience steady growth in the coming years driven by rising cases of trigeminal, postherpetic, and glossopharyngeal neuralgia worldwide. As the geriatric population continues to increase rapidly across regions, the prevalence of neuropathic pain disorders will increase accordingly. This will generate strong demand for pain management therapies among neuralgia patients. The industry will further benefit from growing awareness regarding available treatment options and rising healthcare expenditures in developing nations. However, the market potential could be constrained by the preference for off-label medication use rather than neuralgia-specific drugs due to their lower costs. Stringent regulations for the approval of new treatment types may also impede market expansion to some extent.

The Asia Pacific region offers lucrative opportunities for players in the neuralgia treatment industry. This can be attributed to the growing unmet medical needs of the neuralgia patient pool and improving access to advanced pain therapies in Asia Pacific countries. North America will likely maintain its leading position as the largest regional market over the forecast period owing to high treatment rates and rising healthcare investments in neuralgia care. Meanwhile, European countries are undertaking initiatives to boost R&D activities for rare disease treatments, including neuralgia.

Market Report Scope

Market Dynamics

Market Driver - Increasing prevalence of neuralgia and neuropathic pain

The rising prevalence of neuralgia and neuropathic pain conditions, such as postherpetic neuralgia (PHN), trigeminal neuralgia (TN), and diabetic neuropathy, is driving growth in neuralgia treatment market. Aging populations and rising cases of herpes zoster and diabetes are key factors. On June 27, 2024, a study in Neuroepidemiology reported TN prevalence in Afyonkarahisar, Türkiye, at 98.5 per 100,000, and persistent idiopathic facial pain (PIFP) at 202 per 100,000, with higher female prevalence, marking the first report of PIFP prevalence in Türkiye.

Market Challenge - High costs associated with advanced treatment options

A key challenge in the neuralgia treatment market is the high cost of advanced treatments, including surgeries and specialized medications. Complex drug delivery systems, premium-priced patented drugs, and the need for expert professionals make treatments costly, limiting accessibility to higher-income groups. Additionally, limited insurance and universal healthcare coverage in emerging markets restrict affordability and reduce the potential patient pool, hindering market growth.

Market Opportunity - Emerging therapies and drug delivery systems

The global neuralgia treatment market is expected to witness new opportunities arising from emerging therapies and innovative drug delivery systems. Pharmaceutical firms are investing heavily in R&D to develop novel medications which are more effective yet affordable. Several pipeline drugs are being evaluated which can provide better pain management with less side effects. There is also focus on advanced drug delivery technologies like topical gels, long-acting injectables, and implantable pumps to ensure sustained release of drugs. Non-invasive procedures like pulsed radiofrequency ablation are gaining attention.

Key Stakeholders of Market

What does Growth in Global Neuralgia Treatment Market mean for Different Stakeholders?

The global neuralgia treatment market has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

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Market Segmentation

•  Drug Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Anticonvulsants
  • Antidepressants
  • Opioids
  • Non-steroidal anti-inflammatory Drugs (NSAIDs)
  • Others
•  Route of Administration Insights (Revenue, USD Bn, 2019 - 2031)
• • Oral
  • Intravenous
  • Transdermal
  • Others
•  Severity Insights (Revenue, USD Bn, 2019 - 2031)
• • Mild
  • Moderate
  • Severe
•  Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • GlaxoSmithKline PLC
  • Pfizer Inc.
  • Novartis AG
  • Biogen
  • Cadila Healthcare Limited
  • Lundbeck Pharmaceuticals LLC
  • Teva Pharmaceutical Industries Ltd.
  • Sanofi S.A.
  • Amgen Inc.
  • Eli Lilly and Company
  • Astellas Pharma Inc.
  • Johnson & Johnson
  • Merck & Co., Inc.
  • AbbVie Inc.
  • Lundbeck A/S