Neuralgia Treatment Market is driven by rising prevalence of...

Neuralgia Treatment Market is driven by rising prevalence of neuropathic pain

Posted 2024-11-22 11:31:41

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The neuralgia treatment market comprises drugs that are used for the treatment of neuropathic pain caused due to peripheral nerve damage or compression. Some of the commonly prescribed drugs in the neuralgia treatment market include anticonvulsants, antidepressants, opioids, topical lidocaine, and other drugs. Anticonvulsants are the primary choice of treatment due to their effectiveness in working on voltage-gated sodium channels. The need for neuropathic pain treatments is rising owing to the increasing prevalence of diabetes, HIV/AIDS, shingles, and other conditions that damage the peripheral nerves.

The global neuralgia treatment market is estimated to be valued at USD 2.41 Bn in 2024 and is expected to reach USD 3.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

Key Takeaways
Key players operating in the neuralgia treatment market are GlaxoSmithKline PLC, Pfizer Inc., Novartis AG, Biogen, Cadila Healthcare Limited, Lundbeck Pharmaceuticals LLC, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Amgen Inc., Eli Lilly and Company, Astellas Pharma Inc., Johnson & Johnson, Merck & Co., Inc., AbbVie Inc., and H. Lundbeck A/S.

The growing prevalence of neuropathic pain disorders, rising geriatric population, and increasing awareness about Neuralgia Treatment Market Trends options are some of the key factors fueling the demand for neuralgia treatment drugs. According to the International Association for the Study of Pain, nearly 8% of the global population suffers from neuropathic pain.

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