Increasing product launches or approvals for treating neuropathic pain is expected to boost the market growth over the forecast period. For instance, in August 2020, Averitas Pharma, a specialty pharmaceutical company focusing on non-opioid pain management drugs, and the U.S. subsidiary of Grünenthal, a Germany-based pharmaceutical company, received approval for Qutenza, a capsaicin drug for the treatment of Diabetic Peripheral Neuropathy (DPN) of the feet from the U.S. Food & Drug Administration (U.S. FDA). This cutaneous patch delivers prescription-strength capsaicin directly to the skin.
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