Neuralgia Treatment Market Worth $2.8 Billion By 2027

The global neuralgia treatment market size is expected to reach USD 2.8 billion by 2027, expanding at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. The rising geriatric population, increasing incidence of trigeminal neuralgia, and the growing prevalence of diabetes are the key factors driving the market. Neuralgia is a burning, stabbing, and severe pain due to a damaged or irritated nerve.

The chronic pain in the nerves can occur due to various factors such as infection, diabetes, aging, multiple sclerosis, or any similar disorders that damage the myelin sheath protecting certain nerves. Tumor compressing the trigeminal nerve can also cause the disorder. The prevalence of chronic pain in the trigeminal nerve increases with the aging population. According to the estimates published by the WHO, the geriatric population is anticipated to rise from 900.0 million in 2015 to 2.0 billion in 2050. The geriatric population is prone to many diseases such as diabetes and trigeminal neuralgia.

As per the American Association of Neuromuscular and Electrodiagnostic Medicine, the disorder usually affects the population aged 50 years or older. It also reported that women are more prone to trigeminal neuralgia than men. As per the study, The Patient’s Journey Through Trigeminal Neuralgia published by the International Association for The Study of Pain (IASP), the incidence rate of the disorder in the general population is 3.4 to 5.9 per 100,000 population. It also reported that the incidence rate is comparatively higher in the geriatric population. Such factors are expected to boost market growth over the forecast period. Stereotactic radiosurgery and microvascular decompression are the two most common procedures being adopted to treat the disorder.

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Neuralgia Treatment Market Report Highlights

• On the basis of treatment, the surgery segment held the largest market share in 2019 owing to rising awareness regarding various treatment options and the high cost of surgeries
• The surgery segment has been further sub-segmented into Radiofrequency Thermal Lesioning, Stereotactic Radiosurgery, Microvascular Decompression, and others
• The ambulatory surgery center segment is anticipated to witness the fastest growth over the forecast period owing to the rising demand for a reduced hospital stay
• In North America, the market held the largest revenue share in 2019 owing to the presence of key players in the region.

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Neuralgia Treatment Market Segmentation

Grand View Research has segmented the global neuralgia treatment market on the basis of treatment, end-use, and region:

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

• Drug Based
• Anticonvulsant Medicines
• Tricyclic Antidepressants
• Surgery
• Radiofrequency Thermal Lesioning
• Stereotactic Radiosurgery
• Microvascular Decompression
• Others

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

• Hospital & Clinics
• Ambulatory Surgery Centers
• Others

Neuralgia Treatment Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• The U.S.
• Canada
• Europe
• The U.K.
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia

List of Key Players of Neuralgia Treatment Market

• GlaxoSmithKline PLC
• Pfizer Inc.
• Novartis AG
• Biogen
• Cadila Healthcare Limited
• Lundbeck Pharmaceuticals LLC

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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