The global nerve entrapment syndrome therapeutics market is poised for significant expansion, according to the latest report from Future Market Insights (FMI). The market, valued at US$ 4.16 billion in 2023, is projected to exhibit a steady growth trajectory, with a Compound Annual Growth Rate (CAGR) of 6.81% until 2033, reaching a valuation of US$ 8.04 billion.
The report highlights the profound impact of diabetic neuropathy on the market, with an estimated 60–70% of people suffering from diabetes projected to experience this condition. With the global diabetes population expected to surge from 463 million in 2019 to 700 million by 2045, the prevalence of neuropathic pain is set to rise, further driving the demand for nerve entrapment syndrome therapeutics.
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Despite the ongoing geopolitical tensions, including the Russia-Ukraine Conflict, the market continues to grow. However, the report acknowledges the potential negative impacts on trade dynamics, particularly in Eastern Europe, the European Union, Eastern & Central Asia, and the United States. It provides insights into the implications for demand-supply balances, pricing variants, import/export, and trading, offering short-term recommendations to stakeholders in the United States Nerve Entrapment Syndrome Therapeutics Market.
The market growth is also attributed to the increasing launch of drugs for treating neural pain. For instance, Senzer Pharmaceuticals received approval for its cannabinoid respiratory device, targeting the side effects induced by anti-cancer treatments, including nausea, vomiting, and neuropathic pain.
Regionally, North America is expected to witness positive growth throughout the forecasted period, driven by a large number of pain specialist physicians and increasing FDA approvals. Meanwhile, Asia-Pacific dominates the market due to technological advancements and rising healthcare expenditure.
As the global nerve entrapment syndrome therapeutics market continues to expand, stakeholders are urged to capitalize on emerging opportunities and navigate challenges amidst evolving geopolitical landscapes.
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
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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
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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