Peripheral Neuropathy Treatment Market size is set to grow by USD 447.3 million from 2024-2028, Increasing prevalence of peripheral neuropathy boost the market, Technavio

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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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

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• 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  

1. Type 
• 1.1 Diabetic peripheral neuropathy
• 1.2 Chemotherapy induced peripheral neuropathy
• 1.3 Others
2. Therapy 
• 2.1 Pharmacological therapies
• 2.2 Non pharmacological therapies
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

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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.

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SOURCE Technavio