NEW
YORK, Aug. 9, 2024 /PRNewswire/ -- The global
peripheral neuropathy treatment market size is estimated to grow by
USD 447.3 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 4.36% during the forecast period. Increasing
prevalence of peripheral neuropathy is driving market
growth, with a trend towards strong drug pipeline.
However, side effects of medications used for peripheral
neuropathy poses a challenge. Key market players include
Apotex Inc., ASSERTIO HOLDINGS INC., AstraZeneca Plc, Cadila
Pharmaceuticals Ltd., Cipla Inc., Daiichi Sankyo Co. Ltd., Dr
Reddys Laboratories Ltd., Eli Lilly and Co., Endo International
Plc, Grunenthal GmbH, Hikma Pharmaceuticals Plc, Johnson and
Johnson Services Inc., Lupin Ltd., Novartis AG, Pfizer Inc.,
SHIONOGI Co. Ltd., Sun Pharmaceutical Industries Ltd., Teva
Pharmaceutical Industries Ltd., UCB SA, and Viatris Inc..
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Peripheral
Neuropathy Treatment Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.36%
|
Market growth
2024-2028
|
USD 447.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.11
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
43%
|
Key
countries
|
US, Germany, China, UK,
and Japan
|
Key companies
profiled
|
Apotex Inc., ASSERTIO
HOLDINGS INC., AstraZeneca Plc, Cadila Pharmaceuticals Ltd., Cipla
Inc., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Eli
Lilly and Co., Endo International Plc, Grunenthal GmbH, Hikma
Pharmaceuticals Plc, Johnson and Johnson Services Inc., Lupin Ltd.,
Novartis AG, Pfizer Inc., SHIONOGI Co. Ltd., Sun Pharmaceutical
Industries Ltd., Teva Pharmaceutical Industries Ltd., UCB SA, and
Viatris Inc.
|
Market Driver
The peripheral neuropathy treatment market is poised for growth
due to the strong pipeline of drugs from key vendors. These drugs,
currently undergoing clinical trials, include WinSanTor, Inc.'s
WST-057 (completed Phase I), Astellas
Pharma's ASP3662 (Phase II), AstraZeneca Plc's MEDI7352 (Phase I),
Diabetic nephropathy's unnamed molecule (Phase III), and Octapharma
AG's Panzyga (Phase III). These drugs offer different mechanisms
and approaches, expanding treatment options for peripheral
neuropathy patients and altering market dynamics. This pipeline
will significantly impact the market during the forecast period,
fueling growth.
The Peripheral Neuropathy Treatment Market is witnessing
significant growth due to the rising prevalence of nerves-related
disorders such as weakness, numbness, and pain in hands and feet.
Chronic diseases like diabetes mellitus, cancer, and hypothyroidism
are major systemic causes leading to peripheral neuropathy.
Diabetic Peripheral Neuropathy and Chemotherapy-induced Peripheral
Neuropathy are key areas of focus. Pharmacological therapies like
Venlafaxine and Memantine are in use, while Non-pharmacological
interventions such as physiotherapy and nutritional supplements are
gaining popularity. Pipeline products from clinical trials are
expected to expand the market. Acute neurological disturbances
require immediate attention, while chronic cases may require
long-term management. Non-opioids and antidepressants are common
drug formulations. The geriatric and obese populations are at
higher risk. Early clinical assessment through laboratory testing,
electrodiagnostic studies, and nerve biopsy is crucial for
effective treatment. Life-threatening disorders like circulation
issues, digestion problems, urination difficulties, and cancer
deaths require urgent attention. Radiotherapy and physical injury
are other causes. Toxic causes include metabolic imbalances and
nutritional deficiencies.
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Market Challenges
- ai_dominating_segment_factor_new
- The Peripheral Neuropathy Treatment Market faces significant
challenges due to various conditions causing peripheral nerve
damage. Diabetic foot ulcers and peripheral arterial diseases,
including claudication, pose a major burden. New treatments like
Plasmid DNA therapy and Gene therapy show promise, but require
regulatory approval and high costs. Neuromuscular and muscle
diseases, chronic wounds, and coronary artery disease also
contribute to market growth. Pain relievers and anti-seizure
medications offer relief, but have side-effects. Adherence rates to
treatments remain low due to complex regimens, toxic exposures,
hereditary disorders, and chemotherapy treatments. Epidemiology
data indicates a large patient population, driving demand for
treatments in specialty clinics, hospital pharmacies, online
pharmacies, retail pharmacies, and homecare settings. Systemic
diseases and medications, as well as hereditary disorders and
side-effects, increase mortality. Immunoglobulins, oral, and
parenteral therapies offer alternatives, but their availability and
accessibility vary.
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Segment Overview
This peripheral neuropathy treatment market report extensively
covers market segmentation by
- Type
- 1.1 Diabetic peripheral neuropathy
- 1.2 Chemotherapy induced peripheral neuropathy
- 1.3 Others
- Therapy
- 2.1 Pharmacological therapies
- 2.2 Non pharmacological therapies
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Neuropathy Pain Treatment market is experiencing
robust growth, driven by increasing prevalence of neurological
disorders and advances in treatment options. Key segments include
prescription medications, over-the-counter treatments, and
alternative therapies. Major players include Pfizer, Johnson &
Johnson, and Eli Lilly. The rise in chronic conditions and the
demand for effective pain management solutions are propelling
market expansion, with North
America and Europe leading
the growth.
Research Analysis
Peripheral neuropathy is a nerve disorder characterized by
weakness, numbness, and pain in the hands and feet. It can also
affect other areas of the body, including the digestive system and
urinary functions. The condition is often linked to various
underlying conditions, such as physical injury, trauma, autoimmune
diseases, hormonal imbalance, kidney disorders, liver disorders,
and cancers. The geriatric and obese populations are particularly
susceptible to peripheral neuropathy. Treatment options include
pain relievers, anti-seizure medications, physical therapy,
immunoglobulins, and both oral and parenteral medications. Homecare
and specialty clinics, as well as hospital pharmacies, offer
various treatment modalities for peripheral neuropathy
patients.
Market Research Overview
Peripheral neuropathy is a neurological condition characterized
by weakness, numbness, and pain in the hands and feet caused by
damage to the nerves in the peripheral nervous system, which
connects the brain and spinal cord to the rest of the body. This
condition can also affect other body functions such as digestion,
urination, circulation, and even lead to life-threatening
disorders. Chronic diseases like diabetes, cancer, and
hypothyroidism are common systemic causes of peripheral neuropathy.
Diabetic peripheral neuropathy and chemotherapy-induced peripheral
neuropathy are two common types. Pharmacological therapies such as
Venlafaxine and Memantine, as well as non-pharmacological
therapies, are used to manage symptoms. Pipeline products,
including Plasmid DNA therapy and Gene therapy, are under clinical
trial for potential treatments. Various causes of peripheral
neuropathy include metabolic causes like diabetes mellitus,
nutritional deficiencies, toxic causes, and autoimmune diseases.
Clinical assessment, laboratory testing, electrodiagnostic studies,
and nerve biopsy are used for diagnosis. Acute neurological
disturbances require immediate medical attention. Non-opioids,
antidepressants, drug formulations, and physical therapy are among
the treatment options. The geriatric and obese populations are at
higher risk, as are those with physical injury, trauma, hormonal
imbalance, kidney or liver disorders, cancers, benign tumors,
infections, and diabetic foot ulcers. Treatment may be administered
in hospitals, clinics, ambulatory centers, or through homecare,
specialty clinics, hospital pharmacy, online pharmacy, or retail
pharmacy. Peripheral arterial diseases, such as claudication and
ischemic diseases, can also lead to peripheral neuropathy. Pain
relievers and anti-seizure medications may be used to manage
symptoms. Neurodegenerative disorders, neuromuscular diseases,
muscle diseases, chronic wounds, and peripheral arterial diseases
are other conditions that can contribute to peripheral
neuropathy.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Diabetic Peripheral Neuropathy
- Chemotherapy Induced Peripheral Neuropathy
- Others
- Therapy
-
- Pharmacological Therapies
- Non Pharmacological Therapies
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio