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(Medical-NewsWire.com, February 21, 2018 )
Neuropathic pain is a chronic pain that occurs due to tissue injury and is associated with sensor motor system. The major driving factor for global neuropathy pain market is increasing prevalence of diseases like cancer and diabetes. These two diseases are major cause for neuropathy pain. According to the latest study, 16 % of global population is suffering from painful diabetic neuropathy. Beside this increase in the demand for generic drugs and rapid launch of new neuropathic drug in the market has provided fuel for the growth of this market. On the other hand increasing side effects of steroids and increasing cost of branded drugs may hamper the growth of this market.
Global Neuropathic Pain Market was $ 5.5 billion in 2017 and is expected to reach to $ 8.1 billion by growing at the CAGR of 5.5% during forecasted period of 2017-2023.
Segmentation:
The market is segmented into following which includes by drug types (anticonvulsants, antidepressant, anaesthesia, steroids and other), by condition (Peripheral neuropathy, diabetic neuropathy and other) and by end user (retail pharmacies, hospitals and other)
Key Players in the global Neuropathic Pain Market:
Some of the key players in this market are Pfizer Inc., Depomed Inc., Johnson & Johnson Services Inc., Eli Lily and Company, GlaxoSmithKline PLC, Bristol-Myers Squibb and Company, Sanofi S.A, Baxter Healthcare Corporation, and Biogen Idec Inc.
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Regional Analysis
On regional basis, North America dominates the Neuropathic Pain Market. Due to increase in number of diseases like diabetes and cancer in this region, all these have developed the market in North America. Beside this increasing aging population in this region has also provided a push to the market’s growth. In neuropathic pain market North America is followed by Europe. Improved infrastructure, increase in technological advance and prevalence of diseases which causes neuropathic pain has led to the growth of this market in Europe.
Asia Pacific is a developing region. Due to a huge demand of advance treatment for neuropathic pain along with increase in prevalence of diabetes in this region all these will allow growth of this market by the CAGR of 6.4% during the forecasted period.
Market Index:
1 Introduction
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Neuropathic Pain Market, By Drug Type
6 Global Neuropathic Pain Market, By Disease Cause
7 Global Neuropathic Pain Market, By End User
8 Global Pain Management Devices Market, By Region
9 Competitive Landscape
10 Company Profile
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