by Trigeminal neuralgia is a neuropathic disorder characterized by episodes of intense pain in the facial area supplied by the trigeminal nerve. The available trigeminal neuralgia treatment options include medication therapy such as anti-epileptics and gabapentin and surgical treatments such as microvascular decompression, gamma knife radiosurgery, and percutaneous retrogasserian glycerol rhizotomy. The global Trigeminal Neuralgia Treatment Market is estimated to be valued at US$ 242.95 million in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of trigeminal neuralgia across the globe is expected to be a major driver for the trigeminal neuralgia treatment market during the forecast period. According to surveys, the annual incidence of trigeminal neuralgia ranges between 0.1 and 0.2 per 1000 individuals. Moreover, the condition is more common in women and people over age 50. The high prevalence of the disorder translates to increased demand for trigeminal neuralgia treatment options like medications and surgical procedures, which is expected to fuel market growth over the forecast period.
SWOT Analysis
Strength: Availability of effective drugs such as carbamazepine, gabapentin and lamotrigine help treat the symptoms of trigeminal neuralgia. Constant R&D activities are boosting drug development and discovery.
Weakness: Non-availability of permanent cure and recurrence of symptoms even after treatment poses challenge. Side effects associated with medications hamper compliance.
Opportunity: Rising incidences of trigeminal neuralgia worldwide presents lucrative growth opportunities. Increasing healthcare expenditure across developing nations favors market growth.
Threats: Presence of alternative non-pharmaceutical therapies hinders drug demand. High costs associated with newer drugs also threaten market growth.
Key Takeaways
The Global Trigeminal Neuralgia Treatment Market Size is expected to witness high growth. The market size was valued at US$ 242.95 Mn in 2024 and is anticipated to reach US$ 419.05 Mn by 2030 expanding at a CAGR of 7.5% during the forecast period.
Regional analysis: North America currently dominates the global market and is expected to continue its dominance during the forecast period. This is attributed to rising healthcare spending, growing awareness about the condition, and new product launches. Asia Pacific is predicted to witness fastest growth owing to increasing prevalence of trigeminal neuralgia and improving healthcare infrastructure.
Key players: Key players operating in the trigeminal neuralgia treatment market are F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Abbott (U.S.), Hikma Pharmaceuticals PLC (U.K.), Allergan (Ireland), Eli Lilly and Company (U.S.), Aurobindo Pharma (India), Lupin (India), SHIONOGI & Co., Ltd. (Japan), AbbVie Inc. (U.S.). These major players are focusing on strategies such as new product launches and geographical expansions to increase their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
