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The peripheral neuropathy treatment market size is estimated to grow by USD 447.3 million, at a CAGR of 4.36% between 2023 and 2028. The growth of the market depends on several factors, including the increasing prevalence of peripheral neuropathy, the recent drug approvals, and the rising awareness. The established players in the global market are Eli Lilly and Co., Daiichi Sankyo Co. Ltd., Johnson & Johnson, and Grunenthal GmbH. The market is expected to grow at a moderate rate during the forecast period. Established companies are focusing on expanding their product portfolios by investing in the R&D of novel drugs. Key companies are focusing on collaborations and adopting licensing agreement strategies to expand their reach in the global market. The adoption of inorganic growth strategies and pricing strategies by companies will increase the competition among them.
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The market addresses various challenges such as weakness, numbness, and discomfort in hands and feet, commonly experienced by patients. Conditions affecting digestion and urination are also targeted, particularly in the geriatric and obese populations prone to kidney disorders. Treatments range from pain relievers and anti-seizure medications to transcutaneous electrical nerve stimulation (TENS) and physical therapy, aiming to alleviate symptoms effectively. Emerging therapies like immunoglobulins offer promising results, available through oral or parenteral routes, catering to both homecare settings and specialty clinics within hospital pharmacies. As the market expands, advancements in treatment modalities ensure comprehensive care for peripheral neuropathy, enhancing quality of life and functional outcomes for patients worldwide. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of peripheral neuropathy is the key factor driving the global market. Peripheral neuropathy refers to the many conditions that involve damage to the nervous system. More than 100 types have been identified.
Moreover, the etiology of peripheral neuropathy includes physical injury (trauma), diabetes, vascular and blood-related problems or diseases, systemic (body-wide) autoimmune diseases, hormonal imbalance, kidney and liver disorders, certain cancers and benign tumors, chemotherapy drugs, and certain infections. The rising prevalence of diabetes worldwide will lead to an increase in the number of people with this condition. Thus, the increasing prevalence of diabetes across the world is expected to drive the market during the forecast period.
The strong drug pipeline will fuel the global market. The strong pipeline of drugs for this condition from the key companies in the market is expected to drive the market during the forecast period. These drugs are undergoing different phases of clinical trials and are expected to be approved and launched during the forecast period. These drugs will change the market dynamics with a higher impact.
Further, the drugs use various mechanisms and offer different approaches to treating this condition at multiple targets. These drugs will boost the choices available to people suffering from the condition and change the current market dynamics during the forecast period, thus driving the market.
The side effects of the medications used are a major challenge to the global market. this condition occurs when the nerves carrying messages from and to the brain and spinal cord are damaged. The damage caused to these nerves disrupts communication between the brain and other parts of the body. Therefore, to treat this disorder, various drugs (topical and opioid analgesics and NSAIDs), antidepressants (TCAs, SNRIs, and SSRIs), and anticonvulsant drugs (gabapentin, pregabalin, and topiramate) are used. However, these treatments have several side effects.
For instance, opioid drugs should be administered at a low dosage, and the dosage should be increased gradually. This aligned dosage of such drugs will reduce side effects such as sedation, delirium, drowsiness, and nausea. However, if the dosage of opioids is not maintained in a timely fashion, it can worsen the side effects, resulting in physical dependence and addiction. Thus, the side effects of the medications used for this condition are expected to hinder the market during the forecast period.
Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Apotex Inc. - The company offers peripheral neuropathy treatment that includes antidepressants such as amitriptyline, pain medication such as oxycodone, anti-seizure medication, and pain-relieving creams.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including :
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the diabetic peripheral neuropathy segment will be significant during the forecast period. The diabetic peripheral neuropathy segment is expected to grow during the forecast period. Nerve damage caused by diabetes results in diabetic peripheral neuropathy. In people with diabetic peripheral neuropathy, axonal damage reduces the nerve action potential, thereby inhibiting neuronal signal transmission.
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The diabetic peripheral neuropathy segment was the largest and was valued at USD 1.02 billion in 2018. The pathogenesis of diabetic peripheral neuropathy is complex and is marked by both metabolic and vascular factors. Hyperglycemia is one of the key metabolic events known to cause axonal and microvascular injury. Peripheral neuropathy is the most common risk factor for foot ulcers in diabetic patients. Other risk factors include elevated triglycerides, excess body weight, smoking, and high blood pressure. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption, which is driven by an increase in the global demand for the Peripheral Neuropathy Treatment Industry.
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North America is projected to account for 43% of the global market share growth by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is expected to grow during the forecast period. Factors such as the rising prevalence of peripheral neuropathy, growing awareness of the condition, the presence of key companies, regulatory approval for new drugs, and a strong pipeline of drugs contribute to the market in the region.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The peripheral neuropathy treatment market addresses a spectrum of conditions affecting the peripheral nervous system, including idiopathic peripheral neuropathy, diabetic neuropathy, and AIDS-associated peripheral neuropathy. Linked to chronic diseases such as diabetes mellitus, cancer, and hypothyroidism, treatments encompass diverse approaches from drug formulations like venlafaxine and memantine to physiotherapy and plasmid DNA therapy. Clinical management involves clinical assessment, laboratory testing, and electro diagnostic studies for accurate diagnosis. Emerging therapies like gene therapy and radiotherapy for paclitaxel-induced peripheral neuropathy are in clinical trials. The market serves geriatric and obese populations, offering solutions through hospital, ambulatory, online, and retail pharmacies. As awareness grows, addressing mortality and life-threatening disorders associated with peripheral arterial diseases and chronic wounds remains crucial, supported by ongoing research and collaborations across the public and private sectors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
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Market Growth 2024-2028 |
USD 447.3 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.11 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 43% |
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Key countries |
US, Germany, China, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Therapy
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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