Neuropathic Pain Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Neuropathic Pain Market Analysis:

1. The forecasted growth of the neuropathic pain market is expected to experience a CAGR of 5.5% during the projected period. However, the COVID-19 pandemic had a significant impact on the market due to the suspension of elective procedures and the manufacturing and distribution of neurological therapeutics. Furthermore, COVID-19 infections have also been linked to peripheral neuropathy, which has affected people’s neurological health.

2. Despite the initial setbacks caused by the pandemic, the market is slowly recovering as COVID-19 cases are brought under control. The demand for various drugs is also returning to pre-pandemic levels. Additionally, the market is expected to experience significant growth due to the rising prevalence of diabetic neuropathy and other targeted diseases, as well as increasing healthcare expenditure and research funding.

3. The high burden of diseases that can lead to neuropathic pain, such as diabetes, creates a need for effective therapeutics for treatment. According to the International Diabetes Federation (IDF) 2021 report, the number of adults living with diabetes globally is expected to increase significantly in the coming years. This trend is expected to drive the growth of the neuropathic pain market as the demand for effective treatments continues to rise.

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