Neuralgia Treatment Market Size, Share & Trends Analysis Report By Treatment (Drug Based, Surgery), By End Use (Hospital & Clinics, Ambulatory Surgery Centers), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global neuralgia treatment market size was valued at USD 1.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2020 to 2027. The increasing prevalence of diabetes and the high incidence rate of trigeminal neuralgia are some of the key factors responsible for the increasing demand for neuralgia treatment. In addition, conditions such as multiple sclerosis can also cause neuralgia. Multiple sclerosis is a neurodegenerative condition, in which the body’s immune system attacks the myelin sheath, causing neuralgia.

According to the study conducted by The National Multiple Sclerosis Society, approximately one million are suffering from multiple sclerosis in the U.S. Some of the other observations noted by the organization are:

• The prevalence of multiple sclerosis is higher in the age group 20 to 50. However, the condition can also occur in older adults and young children

• Multiple sclerosis is more common in areas farthest from the equator

• In women, multiple sclerosis is three times more common than in men

According to the Multiple Sclerosis Trust, U.K., in 2020, about 2,500,000 people are suffering from multiple sclerosis across the globe. As per the Public Health England, in 2018, the prevalence rate of multiple sclerosis in England, Wales, Northern Ireland, and Scotland was around 190, 179, 258, and 290 per 100,000 population, respectively. It also reported that due to better diagnostic criteria and better access to neurology services, the incidence and prevalence rate of multiple sclerosis has also increased over the last few decades. Such increasing cases of multiple sclerosis are anticipated to boost the market for neuralgia treatment.

The rising prevalence of diabetes is one of the major factors for increasing the prevalence rate of neuralgia, which, in turn, is driving the market. According to the American Diabetes Association, in 2018, 34.2 million Americans had diabetes, which was 10.5% of the entire population. It also reported that about 1.6 million in the U.S. have Type I diabetes, including 187,000 adolescents and children. The prevalence of diabetes is highest in the geriatric population aged 65 and older. Such factors are anticipated to boost the growth of the market for neuralgia treatment over the forecast period.

The increasing prevalence of trigeminal neuralgia is also anticipated to drive the market over the forecast period. As per the National Organization for Rare Disorders, around 10,000 - 15,000 new cases of trigeminal neuralgia are reported every year in the U.S. It also reported that this disorder mostly affects individuals aged 50 years or more. According to the NCBI, the annual incidence of trigeminal neuralgia is 12.6 per 100,000 population and it is higher in the geriatric population.

Treatment Insights

The surgery based treatment segment held the largest market share of around 65.0% in 2019 and is anticipated to witness significant growth over the forecast period. The segment growth is majorly driven by the rising awareness regarding various treatment options and the high cost of surgeries. The average weighted cost of neuralgia surgery is USD 40,000 for microvascular decompression, USD 38,000 for stereotactic radiosurgery, and USD 3,900 for percutaneous stereotactic radiofrequency rhizotomy.

The surgery segment has been further categorized into radiofrequency thermal lesioning, stereotactic radiosurgery, Microvascular Decompression (MVD), and others. MVD held the largest market share in 2019. It is the most common treatment procedure for trigeminal neuralgia. MVD, as a standalone treatment, has a success rate of approximately 80.0%.

End-use Insights

The hospitals and clinics segment dominated the neuralgia treatment market and held the largest revenue share of 43.3% in 2019. The increasing number of surgical procedures and rising cases of neuralgia are the major driving factors for segment growth. According to the National Institute of Neurological Disorders and Stroke, trigeminal neuralgia is a progressive disorder and often become resistant to medication, thus, the patient usually opt for surgeries.

The ambulatory surgery centers segment is anticipated to witness the fastest growth over the forecast period. The growth of the segment is attributable to the rising demand for a reduced hospital stay. Treatment procedures such as radiofrequency rhizotomy, are outpatient procedures performed under general anesthesia. The procedure takes a few minutes in the operating room and a few hours in the recovery room.

Regional Insights

North America dominated the market and accounted for a revenue share of 36.6% in 2019 is expected to witness a growth rate of 5.6% over the forecast period. The urinary drainage bags market in North America is mainly driven by the rising incidence of neuralgia and the presence of key players in the region. Moreover, rising awareness regarding various treatment options is also anticipated to boost the market in North America.

In Asia Pacific, the market is anticipated to witness the fastest growth rate over the forecast period. The growth of the market is attributable to the rising prevalence of diabetes and the growing geriatric population in the region. For instance, the prevalence rate of diabetes in adults in India is 8.9%. Such a high prevalence rate of diabetes is expected to boost the market for neuralgia treatment.

Key Companies & Market Share Insights

Key companies are engaging in partnerships, mergers, and acquisitions, aiming to strengthen their product portfolio, manufacturing capacities, and provide competitive differentiation. Companies are stressing on research and development to develop technologically advanced products to gain a competitive edge. For instance, in February 2019, Zydus Cadila received FDA approval to market Carbamazepine, which is prescribed for the treatment of neuralgia. Some of the prominent players in the neuralgia treatment market include:

• GlaxoSmithKline PLC

• Pfizer Inc.

• Novartis AG

• Biogen

• Cadila Healthcare Limited

• Lundbeck Pharmaceuticals LLC

Neuralgia Treatment Market Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global neuralgia treatment market report on the basis of treatment, end-use, and region:

• Treatment Outlook (Revenue, USD Million, 2016 - 2027)

  • Drug Based

    • Anticonvulsant Medicines

    • Tricyclic Antidepressants

  • Surgery

    • Radiofrequency Thermal Lesioning

    • Stereotactic Radiosurgery

    • Microvascular Decompression

    • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospital & Clinics

  • Ambulatory Surgery Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia