Trigeminal Neuralgia is a chronic pain condition that affects the trigeminal or 5th cranial nerve, which carries sensation from the face to the brain. Some of the primary medications used for trigeminal neuralgia treatment include anti-seizure medications, analgesics, and nerve blocks. These medications help alleviate facial pain and control neuropathic symptoms. Surgical procedures like microvascular decompression and gamma knife radiosurgery are also employed to treat trigeminal neuralgia. The global Trigeminal Neuralgia Treatment Market is estimated to be valued at US$ 242.95 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The key opportunity driving the growth of the Trigeminal Neuralgia Treatment Market is the increasing prevalence of Trigeminal Neuralgia. According to the National Institute of Neurological Disorders and Stroke, about 4-5 people per 100,000 are affected by trigeminal neuralgia. It is more common in women than men, with women representing 60-75% of all cases. The occurrence increases with age, with most people being diagnosed between the ages of 50-70 years. With rising geriatric population worldwide, the prevalence of trigeminal neuralgia will also witness an uptick, thereby propelling the demand for effective trigeminal neuralgia treatment products.

Porter's Analysis
Threat of new entrants: Trigeminal neuralgia treatment market has moderate threat of new entrants as huge investment required for R&D along with presence of established players with brand names. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of few treatment options and established brands. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials. Threat of new substitutes: Low threat of new substitutes due to limited research conducted for treatment of trigeminal neuralgia condition and complications associated with nerve damage. Competitive rivalry: High competitive rivalry exist among leading players operating in trigeminal neuralgia treatment market.

SWOT Analysis
Strengths: Established brands, huge R&D investment capabilities and availability of few treatment options.
Weaknesses: High costs associated with R&D, surgical procedures and limited awareness about trigeminal neuralgia condition.
Opportunities: Growth opportunities in emerging markets, scope for development of advance treatment therapies and increasing prevalence of nerve damage conditions.
Threats: Side effects associated with medicines, risks involved in surgical procedures and regulatory hurdles for new product approvals.

Key Takeaways
The Global Trigeminal Neuralgia Treatment Market Size is expected to witness high growth during the forecast period of 2023 to 2030.

Regional analysis: North America dominates the market currently owing to increasing prevalence of nerve damage disorders and availability of advanced healthcare facilities.

Key players operating in the trigeminal neuralgia treatment market are F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Abbott (U.S.), Hikma Pharmaceuticals PLC (U.K.), Allergan (Ireland), Eli Lilly and Company (U.S.), Aurobindo Pharma (India), Lupin (India), SHIONOGI & Co., Ltd. (Japan), AbbVie Inc. (U.S.).

For More Insights, Read: https://www.trendingwebwire.com/trigeminal-neuralgia-treatment-market-demand-growth-and-regional-outlook-by-2030/