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The Trigeminal Neuralgia treatment market involves providing medicinal therapy that helps relieve pain caused due to a disorder called Trigeminal Neuralgia. This medical condition leads to episodes of severe, shooting, electric shock-like pains in parts of the face that are served by the trigeminal nerve, which is the largest cranial nerve. These pains are often triggered by trivial stimuli like tooth brushing, shaving or putting on make-up. The standard treatments involve oral medications such as carbamazepine, oxcarbazepine, baclofen, or injections of botulinum toxin and gamma-aminobutyric acid. In some severe cases, surgeries like microvascular decompression, rhizotomy and gamma knife procedures may be considered.
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 Dynamics
One of the key drivers propelling the Trigeminal Neuralgia treatment market growth is the rising geriatric population globally. According to the WHO, the proportion of the world’s population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Ageing increases the risk of neurological disorders including Trigeminal Neuralgia. Older adults are also more susceptible to develop the condition due to age-related wear and tear of tissues and increased incidence of vascular diseases. Second major trigger identified for market growth is growing awareness about the availability of effective treatment options. Earlier, due to lack of awareness, patients used to suffer in silence. But now screening programs are increasing recognition of this painful condition and its management approaches. These developments are expected to boost demand for Trigeminal Neuralgia therapies over the forecast period.
Segment Analysis
The global trigeminal neuralgia treatment market is dominated by the drug segment which holds around 85% market share owing to increasing usage of drugs such as carbamazepine, baclofen, gabapentin, pregabalin for managing trigeminal neuralgia pain. The surgery segment is the fastest growing segment and is expected to grow at around 10% CAGR during the forecast period majorly due to increasing preference towards microvascular decompression surgery which allows long term relief from trigeminal neuralgia symptoms with minimal side effects.
PEST Analysis
Political: Presence of supportive government policies and healthcare reforms regarding availability and affordability of trigeminal neuralgia treatment drugs and devices in developing regions.
Economic: Rising healthcare spending, growing disposable incomes, and increasing focus on research for developing novel treatment options are fueling market growth.
Social: Rising incidence rates of trigeminal neuralgia globally due to aging population and availability of various awareness programs regarding effective treatment options.
Technological: Advancements in microvascular decompression surgery techniques along with drug delivery methods have improved treatment efficacy and clinical outcomes for trigeminal neuralgia patients over time.
Key Takeaways
Global Trigeminal Neuralgia Treatment Market Growth is expected to witness high growth at a CAGR of 7.5% during the forecast period.
Regionally, North America dominates the market and is expected to continue its dominance owing to presence of major players, higher acceptance of advanced treatments, and increasing research funding for trigeminal neuralgia. Europe accounts for the second largest share in the global market due to increasing government support and rising number of specialized treatment centers.
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.).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
