U s neuropathic pain treatment market

Neuropathic pain is a type of pain that is often chronic. It typically results from a chronic, progressive nerve illness, however, it can also be caused by an injury or an infection. The four primary categories of the most frequent causes of neuropathic pain include illness, injury, infection, and limb loss. Neuropathic pain can have a wide range of symptoms including spontaneous pain (pain that occurs without stimulation), evoked pain (pain brought on by situations that are generally not painful), chilly temperatures, etc.

U.S. Neuropathic Pain Treatment Market - Impact of the Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 633 million cases and 6.59 million deaths due to coronavirus (COVID-19) were reported till November 17, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Neuropathic Pain Treatment

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdowns in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting production and demand; 2) by creating disruptions in distribution channels, and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with the transportation and distribution of healthcare products.

However, many patients suffering from COVID-19 also suffered from acute neurological disturbances such as peripheral neuropathy and problems with pain management. Thus, for the treatment of these symptoms along with COVID-19, doctors prescribe medication such as NSAIDs and non-opioids, and antidepressants, which has a positive impact on the global peripheral neuropathy treatment market during COVID-19. For instance, according to data published in September 2021 on ClinCalc LLC, in 2020, the estimated number of prescriptions for ibuprofen, which is a Nonsteroidal Anti-Inflammatory Drug (NSAID) was 16,533,209 in the U.S.

U.S. neuropathic pain treatment market is estimated to be valued at US$ 2,064.9 Mn in 2022 and is expected to exhibit a CAGR of 4.8% over the forecast period (2022-2030).

Figure 1: U.S. Neuropathic Pain Treatment Market Share (%) Analysis, By Drug Type, 2022

U.S. Neuropathic Pain Treatment Market- Key Drivers

The increasing prevalence of chronic diseases  such as cancer, heart diseases, etc. is expected to drive the U.S. neuropathic pain treatment market growth over the forecast period, For instance, according to an article published by PubMed in January 2021, around 1,898,160 new cancer cases and 608,570 cancer deaths were estimated to be reported in the U.S. in 2021. Furthermore, according to data published by HIV.gov in September 2022, around 1.2 million people in the U.S. have HIV.

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.

Figure 2: U.S. Neuropathic Pain Treatment Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017-2030

U.S. Neuropathic Pain Treatment Market- Restraint

Side effects associated with peripheral neuropathy medication will hamper the growth of U.S. neuropathic pain treatment market over the forecast period. For instance, the most common side effects with peripheral neuropathy medication include tiredness, dizziness or feeling drunk, feeling sick or vomiting, weight gain, constipation, etc. Moreover, some side effects can be serious which include hives, rash, blisters, hoarseness, difficulty swallowing or breathing, changes in heartbeat, loss of consciousness, and others

U.S. Neuropathic Pain Treatment Market – Competitive Landscape

Major players operating in the U.S. neuropathic pain treatment market include Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Johnson & Johnson, Dr. Reddy’s Laboratories Ltd., Pfizer, Inc., Cipla Inc., Lupin Limited, Averitas Pharma, Inc., NeuroBo Pharmaceuticals, Inc., LEXICON PHARMACEUTICALS, INC., Asahi Kasei Corporation, Vertex Pharmaceuticals Incorporated, and Biogen       

Detailed Segmentation:

• U.S. Neuropathic Pain Treatment Market, By Drug Type:
  • Pain Relievers
    • NSAIDS
    • Opioids
      • Tramadol
      • Oxycodone
      • Others
    • Anti-seizure Medications
      • Gabapentin
      • Pregabalin
      • Others
    • Topical Treatments
    • Antidepressants
      • Duloxetine
      • Amitriptyline
      • Escitalopram
      • Others
    • Others
• U.S. Neuropathic Pain Treatment Market, By Indication:
  • Diabetic Peripheral Neuropathy
  • Chemotherapy-induced Peripheral Neuropathy
  • Idiopathic Peripheral Neuropathy
  • Others
• U.S. Neuropathic Pain Treatment Market, By Distribution Channel:
  • Hospitals Pharmacies
  • Retail Pharmacies
  • Online Pharmacies