February 29, 2024
U.S. Neuropathic Pain Treatment Market

The U.S. Neuropathic Pain Treatment Market Is Driven By Rising Prevalence Of Diabetic Neuropathy.

Neuropathic pain arises from damages or diseases directly affecting the somatosensory system. Common conditions that may cause neuropathic pain include shingles, diabetes, multiple sclerosis, spinal cord injuries, postherpetic neuralgia, and HIV/AIDS. Drugs for neuropathic pain aims to address underlying causes or reduce pathophysiological mechanisms responsible for generating and maintaining neuropathic pain. These drugs include antidepressants, anticonvulsants, topical lidocaine, and opioids.

The global U.S. Neuropathic Pain Treatment market is estimated to be valued at US$ 2,492.96 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

There is increasing awareness about neuropathic pain conditions and management options available. However, achieving adequate efficacy and tolerability with first-line medications remains challenging. Among anticonvulsants, pregabalin and gabapentin are commonly used first line treatments. However, partial responses or intolerability to these agents often lead to trial of other options such as tricyclic antidepressants. Duloxetine is a balanced serotonin–norepinephrine reuptake inhibitor approved by FDA for treating diabetic peripheral neuropathic pain and chemotherapy-induced neuropathic pain. Despite availability of treatment choices, significant unmet needs still remain in management of neuropathic pain. Development of novel strategies targeting specific pathophysiological mechanisms involved in initiation and maintenance of neuropathic pain can potentially address this unmet need.

Porter’s Analysis

Threat of new entrants: Low barrier to entry but high capital requirement to establish manufacturing facilities.

Bargaining power of buyers: Large number of buyers and availability of alternative treatment options increase buyers’ bargaining power.

Bargaining power of suppliers: High dependence on suppliers of raw material and availability of substitute materials gives bargaining power to suppliers.

Threat of new substitutes: Emergence of innovative new medications and alternative treatment options pose threat of substitution.

Competitive rivalry: Intense competition due to large number of players and lack of product differentiation leads to pricing pressures.

Key Takeaways

The Global U.S. Neuropathic Pain Treatment Market Demand is expected to witness high growth. The global U.S. Neuropathic Pain Treatment market is estimated to be valued at US$ 2,492.96 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024-2031.

Regional analysis comprises North America dominates the global U.S. Neuropathic Pain Treatment with a share of over 50% in 2024 owing to factors such as growing incidence of diabetic neuropathy and postherpetic neuralgia, rapidly increasing geriatric population, and strong presence of major players.

Key players operating in the U.S. Neuropathic Pain Treatment Market are Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, TCX S.r.l., FLY Racing, Dr. Scholl’s Shoes, and Kenneth Cole New York. Kenneth Cole aims to expand its product portfolio through acquisitions and frequent new product launches. Alpinestars focuses on strengthening its distribution network across developing regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it