Indian Neuropathic Pain Management Therapeutics Market size stood at around USD XX Billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around XX% during the forecast period.
India is the fastest growing Neuropathic Pain Management market owing to a huge patient pool, increasing demand for treatments, and increasing healthcare expenditure. The growth of the Indian Neuropathic Pain Management market is majorly due to the well-established business of painkiller medications as the first line of treatment. Neuropathic pain is a condition where a patient experiences chronic pain, which is primarily caused due to infection, trauma, or dysfunction in the nervous system. There are some well-known syndromes of neuropathic pain: postherpetic neuralgia, central pain syndromes, traumatic mononeuropathy, postherpetic neuralgia, complex regional pain syndrome, and post-surgical pain syndromes. Diabetic polyneuropathy (DPN) is considered the fundamental reason for the Neuropathic Pain Market’s growth. It usually occurs due to foot ulceration, gait disturbance, or injury caused during a fall.
Market Driving and Restraining Factors
Rise in geriatric population, surge in prevalence of chronic diseases, such as cancer, diabetic neuropathy, and osteoarthritis propels the market growth, rise in healthcare expenditure, growth in awareness regarding diseases, enhancing healthcare infrastructure, research and development activities and surge in healthcare expenditure positively affect the Neuropathic Pain Management therapeutics market, rise in number of surgical procedures and rise in healthcare expenditure are expected to fuel growth of the Neuropathic Pain Management drugs market. The vast population is also considered as one of the primary critical drivers of the market. Also, better treatment facilities, improvement of healthcare systems, rise in demand of neuropathic pain and significant investments by pharma companies, improvement in quality of drugs, and numbers of pain management systems will push the market in a positive direction.
On the other hand, the restraining factors are the rising concerns regarding drug exploitation and patent expiration of prescription pain medication drugs are the factors expected to obstruct the Neuropathic Pain Management therapeutics market growth.