Neuralgia Treatment Market Overview
As per MRFR analysis, the Neuralgia Treatment Market Size was estimated at 2.14 (USD Billion) in 2022. The Neuralgia Treatment Market is expected to grow from 2.23(USD Billion) in 2023 to 3.18 (USD Billion) by 2032. The Neuralgia Treatment Market CAGR (growth rate) is expected to be around 4.04% during the forecast period (2024 - 2032).
Key Neuralgia Treatment Market Trends Highlighted
Key market drivers include the rising prevalence of neuralgia, growing awareness of treatment options, and increasing healthcare expenditure. The growing geriatric population, who are more susceptible to neuralgia, is also driving demand for effective treatments.
Opportunities in the Neuralgia Treatment Market lie in the development of innovative therapies, advancements in drug delivery systems, and the expansion of healthcare access in emerging regions. The development of targeted therapies that minimize side effects and improve patient outcomes is a key area of focus.
Recent trends in the Neuralgia Treatment Market include the increasing adoption of minimally invasive procedures, such as nerve blocks and radiofrequency ablation, as well as the growing use of complementary and alternative medicine, such as acupuncture and herbal remedies.
Technological advancements, such as the development of implantable devices and neuromodulation therapies, are also shaping the market landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Neuralgia Treatment Market Drivers
Increasing Prevalence of Neuralgia Conditions
Neuralgia is a condition that causes severe pain along the course of a nerve. It can affect any nerve in the body, and the two most common types are trigeminal neuralgia, which affects the nerves in the face, and post-herpetic neuralgia, which often occurs after an outbreak of shingles.
The prevalence of neuralgia is increasing worldwide and is due to several factors, including the aging population, the increasing incidence of chronic diseases such as diabetes and cancer, and certain medications that can cause nerve damage.
This growing prevalence of this condition is considered one of the major growth drivers of the Global Neuralgia Treatment Market.
Growing Demand for Non-Invasive Treatment Options
Currently, neuralgia is often treated in a traditional way, which presupposes surgery or using opioids, and such a treatment can be very risky and result in many side effects. That is why customers demand that a non-invasive treatment is developed which is beneficial and well-tolerated.
Several non-invasive treatments for the given condition have been created, such as transcranial magnetic stimulation, peripheral nerve stimulation, and radiofrequency ablation.
Being less invasive and having a smaller number of side effects than surgery, they attract patients.
Rising Healthcare Expenditure
Healthcare expenditure is rising worldwide due to several factors, including the aging population, the increasing prevalence of chronic diseases, and the rising cost of medical technology.
This increase in healthcare spending is expected to continue in the coming years, which will benefit the Global Neuralgia Treatment Market.
As more money is available for healthcare, patients will be able to access the latest and most effective treatments for neuralgia.
Neuralgia Treatment Market Segment Insights
Neuralgia Treatment Market Drug Type Insights
The Drug Type of the Global Neuralgia Treatment Market is divided into visible segments such as Anticonvulsants, Antidepressants, Opioids, Non-Steroidal Anti-Inflammatory Drugs, and Other. Anticonvulsants show the biggest market share because of their successful nerve pain-reducing effect.
Antidepressants to treat neuralgia are also commonly used because they also have calming effects on mood and reduce the perception of pain. Meanwhile, Opioids are extremely strong drugs and are usually prescribed for two to four weeks to treat severe neuralgia.
Also, NSAIDs are used to treat mild to moderate cases. Other drug types used in the treatment of neuralgia include capsaicin cream and injections with botulinum toxin. The Global Neuralgia Treatment Market is expected to reach USD 3.18 billion by 2032, with a CAGR of 4.04 from 2024 to 2032.
Progress will be stimulated by the increase in the number of cases of neuralgia, the rise in the number of elderly people who are more prone to the disease, and new, better methods of treating neuralgia that will be developed.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Neuralgia Treatment Market Route of Administration Insights
Route of Administration segment of the Global Neuralgia Treatment Market includes Oral, Intravenous, Transdermal, and Other. Oral administration dominated the segment throughout the forecast period. Also, it is expected to experience the highest growth rate in comparison to the other types of administration.
The convenience and ease of implementation fuel the demand for the oral method of administration among patients. Meanwhile, the second most popular segment is Intravenous Administration.
It will face considerable growth in demand throughout the forecast period, as it is considered the most effective method of administration providing the fastest pain relief.
The third-largest segment in the category of Route of Administration is Transdermal Administration. It is expected to gain popularity due to its minimally invasive nature and the ability to provide prolonged delivery of the drug.
Finally, the other section included administration methods known as Topical and Sublingual that will modestly contribute to the growth of the market.
Neuralgia Treatment Market Severity of Neuralgia Insights
The Global Neuralgia Treatment Market is segmented based on severity of neuralgia into mild, moderate, and severe. Among these segments, the severe segment is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period.
This is primarily due to the increasing prevalence of chronic and debilitating forms of neuralgia, such as trigeminal neuralgia and postherpetic neuralgia, which require more intensive and specialized treatment approaches.
The moderate segment is expected to witness significant growth over the forecast period, driven by the rising incidence of neuralgia associated with underlying medical conditions, such as diabetes and multiple sclerosis.
The mild segment is projected to grow at a steady pace, mainly due to the availability of over-the-counter pain relievers and non-prescription treatments for mild forms of neuralgia.
Neuralgia Treatment Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Global Neuralgia Treatment Market. The market is segmented into various channels, including hospital pharmacies, retail pharmacies, online pharmacies, and other channels.
In 2023, hospital pharmacies held the largest market share due to the high volume of prescriptions dispensed in these settings. Retail pharmacies are expected to grow at a steady pace, driven by the increasing accessibility and convenience they offer.
Online pharmacies are also gaining traction, particularly for chronic conditions such as neuralgia, as they provide greater flexibility and affordability.
Other channels, such as clinics and long-term care facilities, are expected to contribute a significant share of the market. Understanding the dynamics of each distribution channel is essential for manufacturers and distributors to optimize their market strategies and cater to the evolving needs of patients with neuralgia.
Neuralgia Treatment Market Regional Insights
Regionally, North America is expected to dominate the market, accounting for a significant share in 2023. The growth in this region can be attributed to the increasing prevalence of neuralgia, rising healthcare expenditure, and the presence of key market players.
Europe is another major market for neuralgia treatment, with a significant market share. The market in APAC is also expected to witness substantial growth over the forecast period, driven by the increasing awareness about neuralgia and the growing healthcare infrastructure.
South America and MEA are expected to contribute a smaller share of the global market, but they are expected to grow at a steady pace due to the increasing demand for neuralgia treatment and the growing healthcare sector.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Neuralgia Treatment Market Key Players and Competitive Insights
Major players in the Neuralgia Treatment Market are constantly striving to gain a competitive edge in the industry. Leading Neuralgia Treatment Market players are focusing on developing innovative treatments, expanding their product portfolios, and strengthening their global presence.
The Neuralgia Treatment Market is characterized by intense competition, with players vying for market share and revenue. Major players are actively involved in research and development to bring new and improved products to the market.
To stay ahead of the competition, companies are also investing in strategic partnerships, acquisitions, and collaborations.
Pfizer Inc. is one of the leading companies in the Global Neuralgia Treatment Market market. The company has a strong presence in the market and offers a wide range of products for the treatment of neuralgia.
Pfizer Inc. is committed to research and development and has a solid pipeline of new products in development. The company is also expanding its global presence through strategic partnerships and acquisitions.
AstraZeneca is another major player in the Global Neuralgia Treatment Market market. The company has a strong product portfolio and a wide geographic reach. AstraZeneca is focused on developing innovative treatments for neuralgia and is actively involved in research and development.
The company is also expanding its global presence through strategic partnerships and acquisitions. AstraZeneca is a key player in the Neuralgia Treatment Market and is expected to continue to be a major force in the future.
Key Companies in the Neuralgia Treatment Market Include:
- Novartis
- Gilead Sciences
- Teva Pharmaceutical Industries
- Astellas Pharma Inc.
- Kyowa Kirin
- Boehringer Ingelheim
- Mylan
- Share
- Allergan
- Baxter International
- Johnson Johnson
- Eli Lilly and Company
- Valeant Pharmaceuticals
- Mitsubishi Tanabe Pharma Corporation
- Pfizer
Neuralgia Treatment Market Developments
Increasing prevalence of neuralgia, rising geriatric population, and growing awareness about neuralgia treatment options are key factors driving market growth.
Advancements in drug delivery systems, such as transdermal patches and sustained-release formulations, are further expected to drive market expansion.
Key players in the market include Pfizer, Merck Co., Inc., and Eli Lilly and Company. Recent developments include the launch of new drugs, such as pregabalin and gabapentin, and the approval of new indications for existing drugs.
Neuralgia Treatment Market Segmentation Insights
Neuralgia Treatment Market Drug Type Outlook
- Anticonvulsants
- Antidepressants
- Opioids
- Non-steroidal anti-inflammatory Drugs (NSAIDs)
- Othe
Neuralgia Treatment Market Route of Administration Outlook
- Oral
- Intravenous
- Transdermal
- Other
Neuralgia Treatment Market Severity of Neuralgia Outlook
Neuralgia Treatment Market Distribution Channel Outlook
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Other
Neuralgia Treatment Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
 2.14 (USD Billion) |
| Market Size 2023 |
 2.23 (USD Billion) |
| Market Size 2032 |
 3.18 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
 4.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Novartis, Gilead Sciences, Teva Pharmaceutical Industries, Astellas Pharma Inc., Kyowa Kirin, Boehringer Ingelheim, Mylan, Shire, Allergan, Baxter International, Johnson Johnson, Eli Lilly and Company, Valeant Pharmaceuticals, Mitsubishi Tanabe Pharma Corporation, Pfizer |
| Segments Covered |
Drug Type, Route of Administration, Severity of Neuralgia, Distribution Channel, Regional |
| Key Market Opportunities |
Market expansion in emerging economies Rise in prevalence of neuralgia conditions Technological advancements in treatment devices Growing awareness of noninvasive treatment options Increasing patient access to healthcare facilities |
| Key Market Dynamics |
Rising prevalence of chronic pain disorders Growing geriatric population Technological advancements in drug delivery systems Increasing demand for minimally invasive procedures Expanding access to healthcare services |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Neuralgia Treatment Market is expected to reach a valuation of USD 2.23 billion in 2023 and is projected to expand at a CAGR of 4.04% from 2024 to 2032, reaching a valuation of USD 3.18 billion by 2032.
North America and Europe are the dominant regions in the Global Neuralgia Treatment Market, accounting for a significant share of the market. However, Asia-Pacific is expected to witness notable growth during the forecast period due to increasing healthcare spending and rising awareness about neuralgia.
The trigeminal neuralgia segment is expected to hold the largest share of the Global Neuralgia Treatment Market throughout the forecast period. Trigeminal neuralgia is a common type of neuralgia that affects the trigeminal nerve, causing severe facial pain.
Some of the key competitors in the Global Neuralgia Treatment Market include Pfizer, Inc., GlaxoSmithKline plc, Merck Co., Inc., Novartis AG, and Teva Pharmaceutical Industries Ltd.
The rising prevalence of neuralgia, increasing awareness about treatment options, and growing demand for minimally invasive procedures are the major factors driving the growth of the Global Neuralgia Treatment Market.
The high cost of treatment, side effects associated with medications, and limited availability of skilled healthcare professionals are some of the challenges faced by the Global Neuralgia Treatment Market.
The Global Neuralgia Treatment Market is expected to witness steady growth in the coming years due to the rising prevalence of neuralgia, increasing adoption of advanced treatment techniques, and growing awareness about the condition.
The key trends shaping the Global Neuralgia Treatment Market include the development of novel drug therapies, advancements in surgical techniques, and the increasing use of minimally invasive procedures.
The unmet needs in the Global Neuralgia Treatment Market include the need for more effective and well-tolerated medications, the development of personalized treatment plans, and the improvement of long-term outcomes for patients.
The opportunities for growth in the Global Neuralgia Treatment Market lie in the development of new and improved treatments, the expansion of the market into emerging economies, and the increasing adoption of telehealth services.
