The global nerve entrapment syndrome therapeutics is slated to reach a valuation of USD 4.16 billion in 2023. According to Future Market Insights, the market is expected to grow at a 6.81% CAGR until 2033, valued at USD 8.04 billion.
As per the reports of Future Market Insights, around 60 to 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.
There are various side effects of medications that are estimated to limit the growth of the market. Wide use of opioids and steroids may lead to several complications such as heart attack, kidney failure, and lung damage. This hampers the market growth.
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 USA 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.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 4.16 billion |
| Projected Forecast Value (2033) | USD 8.04 billion |
| Growth rate | 6.81% CAGR |
| Forecast period | 2023 to 2033 |
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The global nerve entrapment syndrome therapeutics market grew at a CAGR of 5.86% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
The presentation can certainly vary, given multiple areas of possible entrapment. Symptoms usually develop very slowly. The duration of symptoms often averages multiple years before a definitive diagnosis is made.
As mentioned previously, symptoms of this type of nerve entrapment include pain, sensory and motor changes, paresthesias, and/or paralysis. Physical exam and/or history often reveal symptoms limited to the dorso-radial aspect of the distal forearm and hand.
Findings of decreased sensation over the dorso-radial aspect of the forearm or hand help establish the diagnosis. A positive Tinel sign along the radial aspect of the mid-forearm is suggestive of this process. Wrist flexion, ulnar deviation, and pronation place strain on the nerve and will often reproduce or exacerbate symptoms.
Resisting the extension of the middle finger with the elbow extended is another sign of nerve entrapment. This sign is often used to aid in the diagnosis of lateral epicondylitis, but it is also often positive in cases of radial nerve entrapment.
The latest research study states that the acute management of radial nerve entrapment is surgical, less severe cases can employ conservative management. However, once the surgery is completed, the patient needs to be followed by an interprofessional team that includes a neurologist, hand surgeon, specialty-trained nurses, and physical and occupational therapists.
After the healing is complete, most patients require extensive rehabilitation to recover motor and sensory function. In addition, the patient must wear protective splints to protect the hand. Orthopedic nurses monitor patients and provide education. Recovery often takes months, and compliance with the exercise program is key.
Increased Clinical Research Activities
Key market players are focused on conducting clinical trials to expand their market growth. For instance, in February 2020, NoNO Inc., which is a privately-held biotechnology company, stated that nerine tide, without prior administration of alteplase, demonstrated medically important improvements in patients suffering from acute ischemic stroke, in a multicenter, randomized, study.
Additionally, in March 2020, several scientists from Heidelberg University, Germany, stated evaluation of the phytochemical composition and the possible prophylactic effects of an aqueous ethanol extract of Haematoxylon campechianum flowers on peripheral neuropathic pain in a chronic constriction injury rat model.
High incidence of nerve injuries
The increasing prevalence of neurological disorders and the high volume of cases of nerve injuries place a great demand for nerve repair and regeneration products. The geriatric population across the globe is rising and the vast population base and the massive prevalence and incidence of nerve-related diseases among them drive the growth of the market.
The market players and researchers are more focused on advancing neurostimulation and neuromodulation technologies such as next-generation neurostimulation devices, collaborations among the companies to launch advanced products and the incoming latest technologies are thus pushing the growth of the market.
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Complications For Neural Pain Treatment
There are various side effects of medications that are estimated to limit the growth of the market. Wide use of opioids and steroids may lead to several complications such as heart attack, kidney failure, and lung damage. This hampers the market growth.
This neural pain treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
To gain more info on the neural pain treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Increasing Drug Approvals by Several Authorized Organizations
The wide approval of the drugs by various regulatory authorities of the different regions contributes to the market's growth. For instance, in July 2020, Grünenthal and its USA subsidiary, Averitas Pharma, Inc., received USA FDA approval for QUTENZA 8% patch for the treatment of neuropathic pain related to diabetic peripheral neuropathy (DPN) of the feet in adults.
It is a topical, non-systemic, non-opioid pain treatment that is delivered in the form of a patch and is the first and only treatment of its kind to deliver prescription-strength capsaicin directly into the skin. Such kinds of approvals of the different routes of administration of drugs are projected to boost the growth of the market.
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Availability of physicians and favorable reimbursement policies
North America is expecting positive growth for the nerve entrapment syndrome therapeutics 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.
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%.
Growth in the market is also underpinned due to the presence of several health insurance companies, where these companies incorporate government programs to provide insurance coverage for standard procedures in nerve repair and regeneration.
China contributes 2/5th of sales in the global nerve repair
According to the reports of FMI, China is said to hold a demand share of 37.6% in the East Asia nerve repair market. With the rise in awareness regarding neurological disorders and the increase in government initiatives, China is expected to witness favorable growth in the forecast period which is mostly due to the presence of numerous biomaterials and mobility device manufacturing companies.
Hospitals to Generate 3/5 of Revenue in Nerve Entrapment Syndrome Therapeutics Market
The hospital segment holds the highest market share at about 58.6%. The availability of advanced medical equipment for comprehensive patient care in hospitals is the key factor that propels the growth in this segment. Also with contracts, the multiple distribution channels, hospitals can provide services with subsidized costs for equipment.
Antidepressants are said to hold dominance in the market share. Although, the most popular theory is that antidepressants exert their effects on serotonin and norepinephrine, particularly along the descending spinal pain pathways. Antidepressants may also exert adjunctive therapeutic influences through histamine receptors as well as the modulation of sodium channels.
Some of the prominent players in the global market for Nerve Entrapment Syndrome Therapeutics Market treatment are
Some of the important developments of the key players in the market are
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.81% from 2023 to 2033 |
| Market value in 2023 | USD 4.16 Billion |
| Market value in 2033 | USD 8.04 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Region, Treatment, End-user |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | Abbott Laboratories; Assertio Therapeutics Inc.; Astellas Pharma Inc.; AstraZeneca Plc; Aurobindo Pharma Ltd.; Baxter International Inc.; Biogen Inc.; Bristol Myers Squibb Co.; Dr. Reddy’s Laboratories Ltd; Eli Lilly and Co.; Endo International Plc |
| Customisation Scope | Available on Request |
The nerve entrapment syndrome therapeutics market is estimated to secure a valuation of USD 4.16 billion in 2023.
The global market size is expected to reach USD 8.04 billion by 2033.
The growth potential of the market is 6.81% through 2033.
Antidepressants serve as the suitable treatment for nerve entrapment syndrome.
Hospitals segment accounts for 3/5th of the overall market revenue.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 5.1. Pharmacological Therapies 5.1.1. Pain Relievers 5.1.2. Anti-seizure Medications 5.1.3. Antidepressants 5.2. Non-pharmacological Therapies 5.2.1. Transcutaneous Electrical Nerve Stimulation 5.2.2. Plasma Exchange 5.2.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Hospitals 6.2. Clinics 6.3. Research Centres 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. South Asia 7.5. East Asia 7.6. Oceania 7.7. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Abbott Laboratories 17.2. Assertio Therapeutics Inc. 17.3. Astellas Pharma Inc. 17.4. AstraZeneca Plc 17.5. Aurobindo Pharma Ltd. 17.6. Baxter International Inc. 17.7. Biogen Inc. 17.8. Bristol Myers Squibb Co. 17.9. Dr Reddy’s Laboratories Ltd 17.10. Eli Lilly and Co. 17.11. Endo International Plc 18. Assumptions & Acronyms Used 19. Research Methodology
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Nerve Entrapment Syndrome Therapeutics Market
