The neuralgia treatment market comprises drugs to treat various neuralgia conditions such as trigeminal neuralgia, post-herpetic neuralgia and glossopharyngeal neuralgia. Neuralgia is characterized by episodes of severe, shooting, or electric-shock-like pain along the the path of a nerve in the head or face. The pain is caused due to nerve damage or irritation of sensory nerve fibers. Drugs used for neuralgia treatment belong to class of anticonvulsants, antidepressants and local anesthetics. Growing geriatric population is increasing the risk of neuralgia as it is more common in elderly. According to World Health Organization, the global population aged 60 years and older is expected to reach 2 billion by 2050 from 900 million currently. The increasing geriatric population and associated neuralgia conditions are driving the demand for neuralgia treatment drugs.

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 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. These players are focusing on developing advanced drug formulations and combination therapies to improve treatment outcomes.

The key opportunities in the Neuralgia Treatment Market Trends include developing novel mechanisms of action beyond current modulators of voltage-gated sodium channels. Several companies are looking at new orphan drug designation for neuralgia specific drugs to gain market exclusivity.

The neuralgia treatment market is expanding globally with increasing research and development activities. Major players are establishing manufacturing and distribution facilities in emerging markets of Asia Pacific and Latin America to cater to the growing unmet needs. Partnerships and licensing deals between companies and research institutes is also favoring the global expansion.

Market Drivers
The increasing geriatric population worldwide is a major driver for the neuralgia treatment market. According to the United Nations, the number of people aged 60 years and older is expected to more than double by 2050 and reach nearly 2.1 billion globally. Older population is more susceptible to neuralgia conditions.

Market Restraints
Stringent regulatory requirements for the approval of neuralgia drugs can significantly impact the market revenues and growth. Developing new drugs involves huge costs and lengthy research and development cycles. Any regulatory delays can postpone the product launch affecting the return on investment for companies.

Segment Analysis
The neuralgia treatment market can be segmented based on condition, treatment type, and end-user. Based on condition, the trigeminal neuralgia segment is projected to dominate the market during the forecast period owing to the high prevalence and lack of effective cure. Trigeminal neuralgia, also known as Tic douloureux, is considered to be one of the most painful conditions mainly affecting the elderly population.

Based on treatment type, the drug medication segment holds a major market share due to high adoption of pharmacological management to reduce the intensity of pain attacks using antidepressants and anticonvulsants. However, the non-pharmacological treatment segment, comprising neurostimulation and surgery, is expected to witness higher growth during the forecast period as these methods are more effective in providing long-lasting relief from pain.

Global Analysis
Regionally, North America is expected to dominate the global neuralgia treatment market during the forecast period. This is attributed to the rising geriatric population, increasing research on advanced treatment technologies, and strong presence of key players in the region. Europe is projected to be the second largest market owing to growing awareness regarding neuropathic pain disorders and availability of reimbursement policies.

Meanwhile, Asia Pacific is likely to emerge as the fastest-growing regional market in the coming years due to improving healthcare infrastructure and increasing healthcare expenditure in major Asian countries like China and India.

About Author:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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