Rising incidence of diabetes that has risk of developing into neuropathic pain is fuelling the neuropathic pain management market. According to estimates, the number of people with diabetes is projected to double from current figures by 2030. The most common complication of diabetes – diabetic polyneuropathy – over a long term leads to neuropathic pain.
On the other hand, surge in expenses in diabetes associated with diabetic polyneuropathy, which amounts to almost fourfold increase due to increased requirement of drugs and surgical procedures further boosts the neuropathic pain management market.
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Management of neuropathic pain associated with certain types of cancers provides immense opportunities to the neuropathy pain market. For certain types of cancer, neuropathic pain develops as a late stage complication, thus fueling the neuropathic pain management market.
Growing geriatric population in several parts of the world, which is expected to increase to 22% to make about 2 billion of the world’s population by 2050, susceptible to developing chronic diseases is another key reason for rise in neuropathy cases.
Solid Medical Logistics makes North America Frontrunner
Led by the U.S., North America is a key region in the neuropathy pain management market. The presence of some top-notch market players and good medical logistics, substantial awareness, and heavy investments for advanced healthcare and monitoring technologies bode well for the growth of neuropathy pain management market in the region.
Asia Pacific is expected to witness steady growth in the neuropathic pain management market in the years ahead. Factors such as increased emphasis on improvement palliative care services and improving reimbursement policies for economically weaker strata of the society are indirectly aiding the neuropathy pain management market in the region. In developing countries of the region, rising awareness for neuro spinal disorders such as neuropathy pain that were usually left untreated is expanding the scope of growth of neuropathy pain management market.
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