Trigeminal Neuralgia Treatment Market predicted to grow at a CAGR of 6 % until 2027

 The global Trigeminal Neuralgia Treatment Market was estimated at USD 1.8 billion in 2019, with a compound annual growth rate (CAGR) of 6.0 percent predicted from 2020 to 2027. The rising frequency of diabetes and the high incidence rate of trigeminal neuralgia are two of the main reasons for the rise in neuralgia treatment demand. Neuralgia can also be caused by disorders like multiple sclerosis. Multiple sclerosis is a neurological disease that causes neuralgia when the body's immune system destroys the myelin sheath.

According to research conducted by The National Multiple Sclerosis Society, there are roughly one million people in the United States who have multiple sclerosis. Some of the other points raised by the organization are:

Multiple sclerosis is more common in people between the ages of 20 and 50. The illness, however, can affect both older adults and small children.

• In areas farthest from the equator, multiple sclerosis is more common.
• Multiple sclerosis is three times more common in women than it is in men.

According to the Multiple Sclerosis Trust in the United Kingdom, around 2,500,000 individuals worldwide will be affected by multiple sclerosis by 2020. According to Public Health England, the prevalence of multiple sclerosis was roughly 190, 179, 258, and 290 per 100,000 people in England, Wales, Northern Ireland, and Scotland in 2018.. It also stated that, during the previous few decades, the incidence and prevalence rate of multiple sclerosis has increased due to improved diagnostic criteria and better access to neurology services. The market for neuralgia therapy is expected to grow as the number of instances of multiple sclerosis rises.

One of the primary causes driving the market is the rising prevalence of diabetes, which is one of the major factors driving the prevalence rate of neuralgia. According to the American Diabetes Association, 34.2 million Americans, or 10.5 percent of the population, had diabetes in 2018. It also stated that 1.6 million people in the United States have Type I diabetes, including 187,000 teenagers and children. Diabetes affects the geriatric population the most, especially those aged 65 and up. Over the forecast period, such factors are expected to enhance the Trigeminal Neuralgia Treatment Market.

Over the forecast period, the Trigeminal Neuralgia Treatment Market is expected to be driven by the rising prevalence of trigeminal neuralgia. According to the National Organization for Rare Disorders, 10,000 to 15,000 new cases are diagnosed each year in the U.S.It was also revealed that this illness primarily affects those aged 50 and up. According to the National Center for Biotechnology Information, the annual incidence of trigeminal neuralgia is 12.6 per 100,000 people, and it is higher among the elderly.

Treatment Insights

The surgery-based treatment segment had the biggest market share in 2019, accounting for roughly 65.0 percent, and is expected to rise significantly over the projected period. The increased awareness of numerous treatment alternatives, as well as the high cost of procedures, are driving the segment's rise. For microvascular decompression, stereotactic radiosurgery, and percutaneous stereotactic radiofrequency rhizotomy, the average weighted cost of neuralgia surgery is USD 40,000, USD 38,000, and USD 3,900, respectively.

Radiofrequency thermal lesioning, stereotactic radiosurgery, Microvascular Decompression (MVD), and other procedures are included in the surgery portion. In 2019, MVD had the biggest market share. It is the most popular trigeminal neuralgia therapy method. The success rate of MVD as a stand-alone treatment is around 80.0 percent.