May 26, 2024
U.S. Neuropathic Pain Treatment Market

U.S. Neuropathic Pain Treatment Market is Expected to be Flourished by Growing Adoption of Minimally Invasive Procedures

Neuropathic pain is caused by damage or disease affecting the somatosensory nervous system. It is characterized by spontaneous persistent pain, hyperalgesia, and allodynia. The conditions that commonly cause neuropathic pain include diabetic neuropathy, postherpetic neuralgia, chemotherapy-induced peripheral neuropathy, spinal cord injury, multiple sclerosis, and HIV/AIDS. Neuropathic pain poses a significant burden on healthcare systems and impairs the quality of life for patients. However, growing adoption of minimally invasive procedures for pain management is creating lucrative opportunities in the U.S. neuropathic pain treatment market.

Some of the invasive and non-invasive options available for treating neuropathic pain include drugs, nerve stimulation, and surgeries. Drugs such as analgesics, anticonvulsants, antidepressants, opioids, and topical agents are commonly prescribed. Non-invasive treatments include Transcutaneous Electrical Nerve Stimulation (TENS), spinal cord stimulation, electromagnetic field therapy, and acupuncture.

The global U.S. neuropathic pain treatment market is estimated to be valued at US$ 2492.96 million in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growing adoption of minimally invasive procedures is expected to drive the U.S. neuropathic pain treatment market over the forecast period. Minimally invasive procedures such as pulsed radiofrequency ablation, spinal cord stimulation, and neuromodulation have gained popularity due to benefits such as reduced hospital stay, lower risk of infection, less blood loss, and faster recovery time compared to invasive surgeries. Furthermore, increasing awareness among patients about these advanced procedures is also fueling the market growth. However, the high costs associated with minimally invasive procedures and lack of reimbursement plans may hamper the market growth. Technological advancements in neuromodulation devices are anticipated to offer lucrative opportunities for market players.

Segment Analysis

The U.S. neuropathic pain treatment market is dominated by the drugs sub-segment owing to the rising number of prescriptions for nerve pain medications. Pharmaceutical treatments form the largest share as they provide relief from chronic and acute pain.

PEST Analysis

Political: The government is supporting research on neuropathic pain by funding various clinical trials. Various regulations have been introduced to ensure patient safety.

Economic: The rising healthcare expenditure and high treatment costs associated with neuropathic pain are driving the market growth. The economic burden of chronic pain conditions is substantial.

Social: Growing awareness about the available treatment options and increasing patients opting for pain management are some key social factors. The social impact of untreated neuropathic pain is significant on quality of life.

Technological: Adoption of novel drug delivery systems and devices is enhancing patient outcomes. Advanced technologies like neuromodulation and neurostimulation devices allow targeted therapy.

Key Takeaways

The Global U.S. Neuropathic Pain Treatment Market Size is expected to witness high growth. The global U.S. neuropathic pain treatment market is estimated to be valued at US$ 2492.96 million in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.

Regional analysis comprises: The Western region holds the largest share in the U.S. neuropathic pain treatment market owing to the advanced healthcare infrastructure and facilities. States like California, Texas, and Florida have emerged as major revenue generators.

Key players related content comprises: Key players operating in the U.S. neuropathic pain treatment market are Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, TCX S.r.l., FLY Racing, Dr. Scholl’s Shoes, and Kenneth Cole New York.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it