The latest published report by Polaris Market Research. The report “Neuralgia Treatment Market Size, Share & Trends Analysis Report, By Treatment (Drug Based [Anticonvulsant Medicines, Tricyclic Antidepressants], Surgeries [Balloon Compression, Glycerol Injection, Radiofrequency Thermal Lesioning, Stereotactic Radiosurgery, Microvascular Decompression]); By End-Use; By Region, And Segment Forecasts, 2020 – 2027” covers an exhaustive list of market tables and figures, thus providing in-depth analytical data for segments across different regions.
The global neuralgia treatment market was valued at USD 1.78 billion in 2019 and size is predicted to reach USD 2.83 billion by 2027 to grow at a CAGR of 6.1% during the forecast period. according to a new study conducted by Polaris Market Research. The neuralgia treatment market is expected to witness significant growth owing to the increasing incidences of diabetes and trigeminal neuralgia. Furthermore, multiple sclerosis is also one of factors which can cause neuralgia. Multiple sclerosis decreases the body immunity owing to the neurodegenerative condition which affects the myelin sheath that can cause neuralgia. This is likely to drive market demand over the forecast period.
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The potential drug candidates and the expected drug approval is expected to stimulate the global market, with high concentration of pharmaceutical companies engaged in the research & development of novel drugs for neuralgia treatment. For instance, U.S-based drug manufacturer, Biogen Inc. is developing BIIB074 (Vixotrigine) for the treatment of trigeminal neuralgia and is currently in phase II.
North America led the growth of the neuralgia treatment market and is anticipated to witness the fastest growth during the forecast period. Rising cases of people struggling with nerve pain, growing awareness among people about neuralgia treatment, and increasing penetration of market players are driving significant growth for the regional market. Whereas the Asia Pacific is expected to witness substantial growth owing to the growing prevalence of neuralgia disorder and diabetes followed by the increasing aging population in the major Asian economies, such as India and China.
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Market participants such as Allergan Plc, GlaxoSmithKline Plc., Biogen, Inc., Abbott Laboratories, PixarBio Corporation, Merz Pharma GmbH, Trigemina Inc., Pfizer Inc., Novartis, Lupin, and others. are some of the key players operating in the global market. Biohaven pharmaceuticals has Rimegepant in the phase II clinical trials and it is estimated to be completed by December 2020. The drug is a potent antagonist of the CGRP receptor. The receptor is responsible for neural sensitization and neuropathic pain.
In May 2020, CODA Biotherapeutics, Inc. (CODA), the U.S.-based clinical stage pharmaceutical company currently in the process of developing gene therapy based chemogenetic platform announced the collaboration with the Facial Pain Research Foundation (FPRF) to utilize company’s proprietary platform to develop potential therapies and treatment options for the trigeminal neuralgia and other neurological conditions.
Polaris Market Research has segmented the neuralgia treatment market report on the basis of treatment, indication, distribution channel, and region
Neuralgia Treatment, By Treatment (Revenue – USD Million, 2016 – 2027)
- Drug Based
- Anticonvulsant Medicines
- Valproic Acid
- Tricyclic Antidepressants
- Anticonvulsant Medicines
- Balloon Compression
- Glycerol Injection
- Radiofrequency Thermal Lesioning
- Stereotactic Radiosurgery
- Microvascular Decompression
Neuralgia Treatment, By End-Use (Revenue – USD Million, 2016 – 2027)
- Hospitals & Clinics
- Ambulatory Surgery Centers
Neuralgia Treatment, By Regional Outlook (Revenue – USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
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List of Key Players
- Allergan Plc
- Merz Pharma GmbH & Co.
- Abbott Laboratories
- Trigemina Inc.
- Pfizer Inc.
- GlaxoSmithKline Plc.
- Cadila Healthcare Limited
- Lundbeck Pharmaceuticals LLC
*Note: Additional companies can be included on request
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