According to Future Market Insights, the global nerve entrapment syndrome therapeutics market size is projected to rise at a steady growth valued at US$ 4.16 billion in 2023, with a 6.81% CAGR until 2033, being valued at US$ 8.04 billion.
As per FMI, around 60–70% of people suffering from diabetes are projected to have diabetic neuropathy. As per the records of the International Diabetes Federation (IDF), in 2019, around 463 million adults (20-79 years) were living with diabetes, and by 2045 this will rise to 700 million. This rising pool of diabetic patients is leading to a surge in incidences of neuropathic pain worldwide, which will ultimately boost the growth of neuropathic pain management.
We continuously monitor and update reports considering unceasing political and economic uncertainty due to the Russia-Ukraine Conflict. Negative impacts are globally foreseen, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States. This contention has severely affected people’s lives and livelihoods and represents far-reaching disruptions in trade dynamics.
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The potential effects of ongoing war and uncertainty in Eastern Europe are expected to hurt Ukraine and reverberate harsh long-term effects on Russia. The report uncovers the implications for demand-supply balances, pressure on pricing variants, impact on import/export and trading, and short-term recommendations to the United States Nerve Entrapment Syndrome Therapeutics Market considering the current update on the conflict and its global responses.
The increasing launch of drugs for treating neural pain led to the growth of the market. For instance, in March 2020, Senzer Pharmaceuticals secured the Investigational New Drug application and data package for its ongoing FDA registration program from its former U.S. strategic partner for receiving approval for its cannabinoid respiratory device for treating the side effects induced by anti-cancer treatments, especially nausea, vomiting, and neuropathic pain.
North America is expecting positive growth for the neural pain treatment market throughout the forecasted period because of the presence of a large number of pain specialist physicians and the increasing number of approvals from the FDA.
Asia-Pacific dominates the market due to the increased advancement in technology as well as growing healthcare expenditure.
Key Takeaways from the Market Study:
- The global nerve entrapment syndrome therapeutics market grew at a CAGR of 5.86% from 2018 to 2022
- The U.S. held approximately 89.5% share in the global nerve entrapment syndrome therapeutics market whereas sales in the U.S. is expected to grow at a CAGR of 13.3%.
- China is said to hold a demand share of 37.6% in the East Asia nerve repair market.
- The hospital segment holds the highest market share at about 58.6%.
- As per the records of the International Diabetes Federation (IDF), in 2019, around 463 million adults (20-79 years) were living with diabetes, and by 2045 this will rise to 700 million
Competitive Landscape:
Some of the prominent players in the global market for Nerve Entrapment Syndrome Therapeutics Market treatment are-
- Abbott Laboratories
- Assertio Therapeutics Inc.
- Astellas Pharma Inc.
- AstraZeneca Plc
- Aurobindo Pharma Ltd.
- Baxter International Inc.
- Biogen Inc.
- Bristol Myers Squibb Co.
- Reddy’s Laboratories Ltd
- Eli Lilly and Co.
- Endo International Plc
Some of the important developments of the key players in the market are:
- In 2022, Daiichi Sankyo Company, Limited received approval in Japan to change the indication of the analgesic Tarlige Tablets (mirogabalin besilate) from peripheral neuropathic pain to neuropathic pain.
- In 2022, Integra LifeSciences Holding Corporation announced the launch of NeuraGen 3D Nerve Guide Matrix, a resorbable implant for the repair of peripheral nerve discontinuities.
Key Segments Profiled in the Respiratory Distress Syndrome Management Market Report:
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Treatment:
- Pharmacological Therapies
- Pain Relievers
- Anti-seizure Medications
- Antidepressants
- Non-pharmacological Therapies
- Transcutaneous Electrical Nerve Stimulation
- Plasma Exchange
- Others
End User:
- Hospitals
- Clinics
- Research centers
