New York, NY -- (SBWIRE) -- 10/27/2016 -- Neuropathic pain results from damage or dysfunction of the peripheral and central nervous system (CNS). Pain can develop after injury to any level of the nervous system. Some of the major syndromes include postherpetic neuralgia, painful traumatic mononeuropathy, root avulsions, painful polyneuropathy, central pain syndromes, postsurgical pain syndromes, and complex regional pain syndrome. Most commonly prescribed medications for neuropathic pain include antidepressants (also known as tricyclic antidepressants), anticonvulsants (also called neuroleptic medications), and anesthetics. Major antidepressants include Nortriptiline and Amitriptyline. Carbamazepine, Valproic Acid, Felbamate, Clonazepam, and Phenytoin are the most commonly used anticonvulsants for the treatment of neuropathic disorders. Major anesthetics used to reduce neuropathic pain are Tocainide or Mexiletine and Idocaine. Antidepressants and anticonvulsants are the first line of treatment for neuropathic pain. The combination of these two medications is thought to be particularly effective in the treatment of neuropathic pain.

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The global neuropathic pain market is categorized based on various forms of neuropathic pain and their therapeutics. Based on types, the report covers postherpetic neuralgia, painful diabetic neuropathy, and trigeminal neuralgia. The drug segment is further sub-segmented into antidepressants, cannabinoids, dietary supplements, neuromodulators, anticonvulsants topical treatments, N-methyl-D-aspartate (NMDA) antagonism, opioids, and topical agents.

In terms of geography, North America dominates the global neuropathic pain market. This is due to increased awareness about neuropathic pain disorders and technological advancements in diagnostic procedures in the region. The U.S. represents the largest market for neuropathic pain in North America, followed by Canada. In Europe, Germany, France, the U.K., Italy, and Spain account for a major share of the neuropathic pain market. The market in Asia is expected to expand at a significant rate over the next five years. This is due to various companies setting up manufacturing facilities in the region. Moreover, increasing awareness about neuropathic pain disorders and rise in geriatric population are also driving the growth of the market in the region. India, China and Japan are expected to be the fastest growing neuropathic pain markets in Asia.

In recent times, increased demand for diagnostic and therapeutic products to manage neuropathic pain disorders is the key driver of the global neuropathic pain market. Increased investments in R&D in the pharmaceutical sector and introduction of innovative drugs have also fueled the growth of this market. Ongoing development of drugs with properties such as improved safety and high patient compliance are also supporting the growth of the pain market. Therapies, such as biological therapy and physiotherapy have immense potential to spur the growth of this market.

However, stringent regulations by various governments hamper the growth of the global neuropathic pain market. Moreover, the patent expiry of some blockbuster drugs (drugs that have an annual sale of USD 1.0 million and above) and risk of complications and side-effects associated with antidepressants and anticonvulsants have hindered the growth of the market. Increasing mergers and acquisitions of drug manufacturing companies and rapid product launches are some of the major trends in the global neuropathic pain market.

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The major companies operating in this market are Convergence Pharmaceuticals, Daiichi Sankyo Company, Limited, Janssen Pharmaceuticals, Inc., Endo Pharmaceuticals Inc., Grünenthal GmbH, Amgen Inc., Baxter Healthcare Corporation, Biogen Idec, Inc., Bristol-Myers Squibb, Eli Lilly and Company, GE Healthcare, GlaxoSmithKline plc, Pfizer Inc., Sanofi S.A., and Teva Pharmaceutical Industries Ltd.