Global Neuralgia Treatment Market is valued approximately at USD 1.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2027. Neuralgia is an anomalous symptom which causes intense and mostly severe pain, due to damaged or irritated nerve. Neuralgia treatment procedures are proven to be an effective treatment option, which helps to cure disorders caused by the damages nerve, including diabetes, cardiovascular diseases, and many more. Potential neuralgia treatment methods may include surgery to ease the pressure, regulate sugar level in the blood of diabetic patient, physical therapy, epidural injections to reduce pain, etc., which ultimately expand the scope of neuralgia treatment around the world.
Further, the increase in the neuralgia treatment market is significantly imputed to the fact that the presence of better diagnostic criteria options and access to neuralgia treatment service is relentlessly expanding across the globe. Moreover, the rise in prevalence of diabetes and trigeminal neuralgia along with growing geriatric population around the world are the few other factors responsible for the CAGR of the market during the forecast period. According to the International Diabetic Federation (IDF), there were 463 million adults aged between 20-79 years are living with diabetes in 2019 worldwide, and this prevalence is likely to reach at almost 700 million by the year 2045.
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Likewise, as per the IDF Diabetes Atlas in 2019, the numbers of diabetic patients in Europe is likely to reach around 68 million by the year 2045, and the total health expenditure for the treatment of diabetes is valued at USD 214 billion. This, in turn, is expected to strengthen the demand for neuralgia treatment, accelerating the market growth all over the world. However, the high cost of the treatment coupled with the lack of skilled healthcare professionals are the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Neuralgia Treatment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing awareness among people for neuralgia treatment along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of diabetes and neuralgia disorder followed by the growing aging population in the countries, such as China and India, would create lucrative growth prospects for the Neuralgia Treatment market across the Asia-Pacific region.
Major market player included in this report are:
GlaxoSmithKline PLC
Pfizer Inc.
Novartis AG
Biogen Inc.
Cadila Healthcare Limited
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Lundbeck Pharmaceuticals LLC
Allergan Plc
Merz Pharma GmbH & Co.
Trigemina Inc.,
Abbott Laboratories
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Treatment:
Drug Based
Surgery
By End-User:
Hospitals & Clinics
Ambulatory Surgery Center
Others
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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