The global nerve entrapment syndrome therapeutics market is on track for significant expansion, according to the latest report from Future Market Insights (FMI). The market, currently valued at USD 4.16 billion in 2023, is projected to exhibit a steady growth trajectory with a Compound Annual Growth Rate (CAGR) of 6.81%, reaching a valuation of USD 8.04 billion by 2033.
The FMI report underscores the profound impact of diabetic neuropathy on the nerve entrapment syndrome therapeutics market. Diabetic neuropathy is a common complication of diabetes, affecting an estimated 60–70% of people with the condition. As the global diabetes population is expected to surge from 463 million in 2019 to 700 million by 2045, the prevalence of neuropathic pain is anticipated to rise correspondingly. This increase is set to drive the demand for therapeutics addressing nerve entrapment syndromes.
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“With the rising incidence of diabetes globally, the burden of neuropathic pain is becoming increasingly prominent,” said a spokesperson from FMI. “Our report indicates that the nerve entrapment syndrome therapeutics market will continue to grow robustly, propelled by the urgent need for effective treatments.”
The report also highlights emerging trends and innovations in the market, providing a comprehensive analysis of key market players, product developments, and strategic initiatives. Stakeholders and industry participants can leverage this detailed insight to navigate the evolving landscape and capitalize on growth opportunities.
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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About Future Market Insights (FMI)
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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