Global neuropathy pain treatment market to grow by $5.84b until 2028

It is driven by chronic conditions, such as diabetes.

The global market for neuropathy pain treatment is anticipated to grow by $5.84b until 2028 at a compound annual growth rate (CAGR) of almost 11%.

A report by Technavio revealed that the market is experiencing growth due to the development of topical patches for chronic pain.

Meanwhile, the market is driven by the rising prevalence of conditions causing neuropathic pain, such as diabetes and chemotherapy.

“However, the lack of specific treatments for different types of neuropathy, like diabetic neuropathy and chemotherapy-induced neuropathy, poses a significant challenge,” the report said.

Furthermore, proper identification and diagnosis of neuropathy types are crucial in developing targeted therapies, whilst high treatment costs and limited reimbursement options serve as challenges for patient access.

“The market requires innovative approaches to address these challenges and improve patient outcomes,” the report added.