LONDON--(BUSINESS WIRE)--The global neuropathy pain treatment market is projected to grow to USD 6,948.98 million by 2021, at a CAGR of close to 6% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global neuropathy pain treatment market for 2017-2021. The market research report provides a detailed segmentation and analysis based on indication (diabetic neuropathy, chemotherapy-induced neuropathy pain, and postherpetic neuralgia) and drug class (calcium channel alpha 2-delta ligands, serotonin-norepinephrine reuptake inhibitors (SNRIs), TCAs, and opioid analgesics).
|Neuropathic pain is a complex, chronic pain that is accompanied by tissue and nerve fiber damage or injury. Currently, vendors in the neuropathy pain treatment market are focusing on the development of drugs for the effective treatment of diabetic neuropathy pain. This is drawing increased investments to the market, thereby driving its growth.|
Technavio’s research study segments the global neuropathy pain treatment market into the following regions:
Neuropathy pain treatment market in the Americas
“The Americas is the largest regional segment of the neuropathy pain medicine market, generating more than 48% of the overall revenue. The US is the largest contributor to the market, driven by the introduction of new drugs and treatment for new indications,” says Sapna Jha, a lead analyst at Technavio for central nervous system research.
Currently, there is a growing focus on developing drugs for diseases such as postherpetic neuralgia, which will propel the market growth over the forecast period. Vendors are also seeking to increase market penetration by adopting inorganic growth strategies to expand their expertise.
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Neuropathy pain treatment market in EMEA
The market for neuropathy treatment in EMEA is expected to be worth USD 2,167.39 million by 2021. The growing awareness and well-established healthcare infrastructure in Europe have led to the higher demand for neuropathic pain drugs, mainly for diabetic neuropathy. Countries such as the UK, Italy, Spain, Germany, and France are witnessing an increased uptake of drugs for the treatment of diabetic neuropathy, which is expected to fuel the market growth in EMEA. The increased adoption of low-cost generics in the Middle East and Africa will affect the market dynamics in EMEA.
Neuropathy pain treatment market in APAC
“APAC is projected to be the fastest-growing regional segment of the neuropathy pain treatment market, exhibiting a CAGR of over 7% through the forecast period. The rising adoption of these drugs and its generics will boost the market revenue generation,” says Sapna.
Patent expiries of key branded therapies such as Eli Lilly’s Cymbalta are creating new opportunities in untapped markets for generics. In addition, the market looks promising in this region due to an increasing number of the geriatric demographic and the large population pool, especially in India and China, are likely to drive the market growth.
The top vendors in the global neuropathy pain treatment market highlighted in the report are:
- Eli Lilly
- Endo International
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