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

Regional Analysis

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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.