Europe Neuropathic Pain Market – Industry Trends and Forecast to 2030

Europe Neuropathic Pain Market Analysis and Size

Increasing R&D expenditure by various market players to create advanced products is expected to drive the growth of the Europe neuropathic pain market. Limitation associated with the medical devices which limits the use of products is expected to act as restraint for the growth of the Europe neuropathic pain market. High risk of neuropathic pain with ageing and rising older population in many countries will create an opportunity for the growth of the Europe neuropathic pain market. Use of traditional therapies in emerging countries due to low health expenditure and disrupted supply chain is expected to act as a challenge for the growth of the Europe neuropathic pain market.

Data Bridge Market Research analyses that the Europe neuropathic pain market, which was USD 1,123.93 million in 2022, is expected to reach USD 2,371.40 million by 2030, and is expected to undergo a CAGR of 9.1% during the forecast period of 2023 to 2030. “Spinal cord stimulation (SCS) devices” segment dominates the type segment of the Europe neuropathic pain market owing to the advancements in technology. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Europe Neuropathic Pain Market Scope and Segmentation

Market Definition

Neuropathic pain is caused by a lesion or disease of the somatosensory system including peripheral fibres (Aβ, Aδ and C fibres) and central neurons and affects 7–10% of the general population. Multiple causes of neuropathic pain have been described and its incidence is likely to increase owing to the aging global population, increased incidence of diabetes mellitus and improved survival from cancer after chemotherapy.

Europe Neuropathic Pain Market Dynamics

Drivers

• Increasing Prevalence of Neuropathic Pain

As the aging population grows and chronic diseases such as diabetes and cancer become more prevalent, the number of people suffering from neuropathic pain is on the rise. This demographic trend drives the demand for neuropathic pain treatments and medications.

• Advances in Medical Research

Ongoing research into the causes and mechanisms of neuropathic pain has led to the development of new treatment options and therapies. As our understanding of neuropathic pain improves, more effective treatments are being developed, creating opportunities for pharmaceutical and biotech companies.

• Novel Drug Development

Pharmaceutical companies are investing in the development of new drugs specifically designed to target neuropathic pain. These drugs aim to provide better pain relief with fewer side effects, improving the quality of life for patients.

Opportunities

• Growing Awareness among Patients

Increased awareness of neuropathic pain and its impact on patients’ lives has led to a greater demand for effective treatments. Patients are becoming more proactive in seeking appropriate care and therapies.

• Rising of Healthcare Expenditure

As healthcare expenditure continues to increase globally, there is more funding available for research, development, and access to neuropathic pain treatments and therapies.

Restraints/Challenges

• Limited Efficacy of Current Treatments

Many existing medications and therapies for neuropathic pain offer only partial relief and can have side effects. This limited efficacy can lead to patient dissatisfaction and the search for alternative treatments.

• Side Effects and Safety Concerns

Some neuropathic pain medications, including opioids and certain antidepressants, can cause side effects such as drowsiness, dizziness, and addiction. Managing these side effects can be challenging for both patients and healthcare providers.

This Europe neuropathic pain market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 Europe neuropathic pain market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In January 2023, Abbott announced that the U.S. Food and Drug Administration (FDA) has approved its Proclaim XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes
•  In July 2022, Vertex Pharmaceuticals Incorporated announced positive Phase 2 results of VX-548 in Acute and Neuropathic Pain by U.S. Food and Drug Administration (FDA)

Europe Neuropathic Pain Market Scope

The Europe neuropathic pain Market is segmented on the basis of type, product type, procedure, technology, modality, mode of purchase, pain type, indication, end user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Spinal Cord Stimulation (SCS) Devices
• External Peripheral Nerve Stimulation
• Transcutaneous Electrical Nerve Stimulation (Tens) Devices

Product Type

• Rechargeable
• Non-Rechargeable

Procedure

• Invasive
• Non-Invasive

Technology

• Transcutaneous Electrical Nerve Stimulation
• Transcranial Magnetic Stimulation
• Respiratory Electrical Stimulation

Modality

• Stationary
• Portable

Mode of Purchase

• Over-the-Counter Devices
• Prescription-Based Devices

Pain Type

• Peripheral Neuropathy
• Entrapment Neuropathy
• Phantom Limb Neuropathy
• Trigeminal Neuralgia
• Post Herpetic Neuralgia (PHN)
• Post Traumatic Neuropathy
• Foot Pain
• Coccydynia

Indication

• Spinal Stenosis
• Chemotherapy-Induced Peripheral Neuropathy
• Diabetic Neuropathy
• Others

End User

• Hospitals
• Clinics
• Home Healthcare
• Ambulatory Surgical Centers
• Others

Distribution Channel

• Direct Tender
• Third Party Distributor
• Others

Europe Neuropathic Pain Market Regional Analysis/Insights

The Europe neuropathic pain market is analysed and market size insights and trends are provided by country, type, product type, procedure, technology, modality, mode of purchase, pain type, indication, end user, and distribution channel as referenced above.

The countries covered in the Europe neuropathic pain market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and Rest of Europe

Germany dominates the Europe neuropathic pain market because of the strong base of healthcare facilities, strong presence of major players in the market, and rising number of research activities in this region.   

Germany is expected to witness significant growth in the Europe neuropathic pain market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The Europe neuropathic pain market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Europe neuropathic pain market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Europe neuropathic pain market. The data is available for historic period 2015-2020.

Competitive Landscape and Europe Neuropathic Pain Market Share Analysis

The Europe neuropathic pain market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Europe neuropathic pain market.

Some of the major players operating in the Europe neuropathic pain market are:

• NEVRO CORP. (U.S.)
•  Boston Scientific Corporation (U.S.)
•  Abbott (U.S.)
•  electroCore, Inc. (U.S.)
•  Polar Medical (England)
•  B. Braun Melsungen AG (Germany)
•  Omron Healthcare, Inc. (Japan)
•  Cirtec (U.S.)
•  Medtronic (Ireland)
• Pfizer Inc. (U.S.)
•  Novartis AG (Switzerland)
•  Virpax Pharmaceuticals, Inc. (U.S.)
•  Amgen Inc.(U.S.)
• Integer Holdings Corporation (U.S.)
•  AVNS (U.S.) 

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