Global Neuralgia Treatment Market: Overview
Neuralgia refers to an abnormal symptom that comes with several effects, such as severe, burning, and sharp pain owing to the presence of a damaged or an irritated nerve. This damaged nerve can be present anywhere in the body. This damage to the nerve is dependent on many factors, such as shingles infection, multiple sclerosis, diabetes, cardiovascular diseases, and aging. As such, the treatment of neuralgia to relieve pain is basically aimed toward the origin of the pain. Potential treatment for the same might comprise surgery to regulate the level of blood sugar in the patients with diabetes, lessen inflammation directed at a certain nerve group or nerve, alleviate the pressure, epidural injections to ‘turn off’ pain signals, and physical therapy or body massage. Some medicinal treatment of neuralgia is used to diminish pain. Increased prevalence of several common neuralgias, such as occipital neuralgia, glossopharyngeal, postherpetic, and trigeminal is likely to foster growth of the global neuralgia treatment market over the assessment timeframe, from 2019 to 2029.
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Treatment, end use, and region are the three key parameters based on which the global neuralgia treatment market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
Global Neuralgia Treatment Market: Notable Developments
The global neuralgia treatment market has witnessed prominent developments in the last few years. A market development that has played an influential role in determining the future course of the market is mentioned below:
- In February 2019, India-based Zydus Cadila received approval from US-based Food and Drug Administration (FDA) for the marketing of Carbamazepine. This drug is an anticonvulsant agent and functions by diminishing brain’s excessive nerve signals and restoring the usual balance of the activity of nerves. This medication is utilized in the treatment of certain types of pain in the nerve, including glossopharyngeal neuralgia and trigeminal.
Some of the key players in the global neuralgia treatment market comprise the below-mentioned:
- Pfizer Inc.
- Lundbeck Pharmaceuticals LLC
- GlaxoSmithKline PLC
- Novartis AG
- Cadila Healthcare Limited
- Biogen Inc.
Global Neuralgia Treatment market: Key Trends
The following drivers, restraints, and opportunities characterize global neuralgia treatment market over the assessment period, from 2019 to 2029.
Rise in the Incidences of the Neuralgia is Anticipated to Bolster Demand in the Market
The growth of the global neuralgia treatment market is likely to be influenced by the rise in geriatric population all over the world. Neuralgia disorder is found more amongst the people above 50 years of age. However, it can affect people at any age. Usually, people suffering from diabetes and multiple sclerosis are prone to develop neuralgias, which is likely to add to the expansion of the global neuralgia treatment market in the years to come.
In accordance with the findings of a 2018 report of National Institute of Neurological Disorders and Strokes (NINDS), per year there has been about 12 new cases for every 100,000 people. Mostly women are affected with this disorder. People are usually recommended spine surgery, if the pain remains for several months even after the neuralgia treatment. On the other hand, the cost of treatment is high, which is likely to impede development of the global neuralgia treatment market in the years to come.
Global Neuralgia Treatment market: Geographical Analysis
North America is likely to be the dominant regional force in the global neuralgia treatment market and is estimated to retain its dominance over the forecast tenure, from 2019 to 2027. Increased spending on the healthcare sector together with the growing awareness about the disorder in the region is expected to support development of the regional market.
The global neuralgia treatment market is segmented as:
- Hospital & Clinics
- Ambulatory Surgery Centers
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