The global neuralgia treatment market size is predicted to reach USD 2.83 billion by 2027 according to a new study by Polaris Market Research. The report “Neuralgia Treatment Market Size, Share & Trends Analysis Report, By Treatment (Drug Based [Anticonvulsant Medicines, Tricyclic Antidepressants], Surgeries [Balloon Compression, Glycerol Injection, Radiofrequency Thermal Lesioning, Stereotactic Radiosurgery, Microvascular Decompression]); By End-Use; By Region, And Segment Forecasts, 2020 - 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The neuralgia treatment market is expected to witness significant growth owing to the increasing incidences of diabetes and trigeminal neuralgia. Furthermore, multiple sclerosis is also one of factors which can cause neuralgia. Multiple sclerosis decreases the body immunity owing to the neurodegenerative condition which affects the myelin sheath that can cause neuralgia. This is likely to drive market demand over the forecast period.
The potential drug candidates and the expected drug approval is expected to stimulate the global market, with high concentration of pharmaceutical companies engaged in the research & development of novel drugs for neuralgia treatment. For instance, U.S-based drug manufacturer, Biogen Inc. is developing BIIB074 (Vixotrigine) for the treatment of trigeminal neuralgia and is currently in phase II.
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Market participants such as Allergan Plc, GlaxoSmithKline Plc., Biogen, Inc., Abbott Laboratories, PixarBio Corporation, Merz Pharma GmbH, Trigemina Inc., Pfizer Inc., Novartis, Lupin, and others. are some of the key players operating in the global market. Biohaven pharmaceuticals has Rimegepant in the phase II clinical trials and it is estimated to be completed by December 2020. The drug is a potent antagonist of the CGRP receptor. The receptor is responsible for neural sensitization and neuropathic pain.
In May 2020, CODA Biotherapeutics, Inc. (CODA), the U.S.-based clinical stage pharmaceutical company currently in the process of developing gene therapy based chemogenetic platform announced the collaboration with the Facial Pain Research Foundation (FPRF) to utilize company’s proprietary platform to develop potential therapies and treatment options for the trigeminal neuralgia and other neurological conditions.
Polaris Market Research has segmented the neuralgia treatment market report on the basis of treatment, indication, distribution channel, and region
Neuralgia Treatment, By Treatment (Revenue - USD Million, 2016 – 2027)
Neuralgia Treatment, By End-Use (Revenue - USD Million, 2016 - 2027)
Neuralgia Treatment, By Regional Outlook (Revenue - USD Million, 2016 – 2027)