Global Market Study on Neuropathic Pain:
Anticonvulsants Drug Class Segment Projected to
Witness Highest Growth through 2024
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Report Media Releases
Global Neuropathic Pain Market to Reach US$ 8.3 Bn by
2024 End
According to the latest market report published by Persistence Market Research titled ‘Global
Market Study on Neuropathic Pain: Anticonvulsants Drug Class Segment Projected to
Witness the Highest Growth Through 2024’, the global neuropathic pain market was
valued at US$ 5.2 Bn in 2015 and is estimated to reach a market valuation of US$ 5.4 Bn by
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2016. The market is projected to expand at a CAGR of 5.6% during an eight-year forecast period
2016–2024 and reach US$ 8.3 Bn by the end of 2024.
Rising occurrence of diabetes and cancer, new treatment options to treat neuropathic pain,
growth in the number of pain management centers, and increasing demand for neuropathic pain
treatment are major factors driving revenue growth of the global neuropathic pain market
currently. Other factors driving market growth include rapid product launches for the treatment of
neuropathic pain, a growing awareness among patients for the treatment of neuropathic pain,
and an increasing demand for generic drugs.
Pharmaceutical companies are focusing on developing new and improved drugs to fulfil unmet
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needs of patients suffering from neuropathic pain. However, challenges such as severe side
effects of opioids and steroids and rising costs of branded drugs are likely to restrain the growth
of the global neuropathic pain market in the next eight years.
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The global neuropathic pain market is segmented on the basis of drug class, indication, and
distribution channel. On the basis of drug class, the market has been segmented into Tricyclic
Antidepressant, Anticonvulsants, Local Anaesthesia, Opioids, Steroids, and Others. The
Anticonvulsants drug class segment is expected to remain the largest segment in the global
neuropathic pain market, registering a CAGR of 6.4% in terms of value over the forecast period.
The less side effects of this drug is expected to contribute to its growing popularity. The
Anticonvulsants segment is projected to reach a market valuation of US$ 3.3 Bn by 2024 end.
The Tricyclic Antidepressant segment is also likely to emerge as the most preferred drug class
type for both patients and physicians globally over the forecast period.
Global Neuropathic Pain Market 2016-2024
R e s e a r c h
M a r k e t
On the basis of indication, the market has been segmented into Diabetic Neuropathy,
Chemotherapy Induced Peripheral Neuropathy, and Others. The highest market share is held by
the Diabetic Neuropathy segment, followed by the Chemotherapy Induced Peripheral
Neuropathy segment. The Diabetic Neuropathy segment is estimated to account for the highest
value share of 46.7% of the global neuropathic pain market by 2016 end. The Chemotherapy
Induced Peripheral Neuropathy segment is estimated to account for 42.4% revenue share in the
global neuropathic pain market by 2016 end.
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On the basis of region, the market has been segmented into North America, Latin America,
Europe, Asia Pacific, and Middle East & Africa. This report assesses trends driving each market
segment and offers analysis and insights into the potential of neuropathic pain in specific
regions. North America is estimated to dominate the global neuropathic pain market with
maximum value share of the overall market by the end of 2016. The North America neuropathic
pain market is estimated to increase at a CAGR of 5.8% through 2024. Emergence of several
regional market players, a robust distribution network, and well-developed healthcare
infrastructure support in North America are some of the key factors driving revenue growth of the
neuropathic pain market in North America.
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The global neuropathic pain market report profiles some of the top players operating in the
global neuropathic pain market such as Baxter Healthcare Corporation, Depomed, Inc.,
GlaxoSmithKline PLC, Biogen Idec, Pfizer, Inc., Sanofi S.A., Johnson & Johnson Services, Inc.,
Eli Lily and Company, and Bristol Myers Squibb. These companies are primarily focusing on
producing improved drugs for the treatment of neuropathic pain to gain maximum share in the
global neuropathic pain market.
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Global Neuropathic Pain Market 2016-2024
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Global Neuropathic Pain Market 2016-2024