Chemotherapy Induced Peripheral Neuropathy System Market Future Scenario, Key Insights, Top Companies 2028

The "Chemotherapy-Induced Peripheral Neuropathy Market" is expected to grow from US$ 813.48 million in 2021 to US$ 1,174.26 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028.

The report highlights trends prevailing in the market and factors driving the chemotherapy-induced peripheral neuropathy market growth. The market growth is attributed to a rise in demand for cancer drugs and the use of chemotherapy in earlier stages. However, a lack of awareness regarding the symptoms of chemotherapy-induced peripheral neuropathy limits the market growth.

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Companies Profiled in this report includes:

• REGENACY PHARMACEUTICALS, INC
• ASAHI KASEI PHARMA CORPORATION
• NOVAREMED
• MAKSCIENTIFIC, LLC
• WEX PHARMACEUTICALS INC
• SOVA PHARMACEUTICALS, INC
• KINETA, INC.
• APTINYX INC.
• APEXIAN PHARMACEUTICALS, INC.
• WINSANTOR, INC

Peripheral neuropathy is indicated by symptoms that result from damage to the peripheral nerves. These nerves carry sensations, and control arm and leg movements as well as bladder and intestine functions. Chemotherapy and other medications used to treat cancer can cause peripheral neuropathy, which is termed as chemotherapy-induced peripheral neuropathy.

Spending on anticancer drugs is one of the most important factors incurring excess costs in healthcare. Both, chemotherapy and targeted therapy significantly improve the chances of survival among cancer patients, along with improving their quality of life. These therapies may result in the complete remission of a tumor. Owing to these benefits, the demand for chemotherapy has surged globally with the rising burden of cancer. A study published recently in Lancet Oncology states that the number of patients requiring chemotherapy will increase by 53% from 980,000 to 15 million worldwide from 2018 to 2040. Advanced cancer treatments further improve patient survival and increase the number of patients requiring long-term outpatient chemotherapy. More exposure to chemotherapy may result in a greater number of CIPN cases, thereby deriving the chemotherapy-induced peripheral neuropathy market growth.

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Chemotherapy Induced Peripheral Neuropathy Market Segmentation:

By Drug Class:
• Steroids
• Antidepressants
• Anti-seizure Error! Bookmark not defined.
• Narcotics

By Distribution Channel:
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Various organic and inorganic strategies are adopted by companies in the chemotherapy-induced peripheral neuropathy market. The organic strategies mainly include product launches and product approvals. Further, inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the chemotherapy-induced peripheral neuropathy market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players in strengthening their customer base and expanding their product portfolios. A few of the significant developments by key players in the chemotherapy-induced peripheral neuropathy market are listed below.

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The COVID-19 pandemic had a major impact on oncology services at a global level during 2020-2021. It disrupted cancer treatment plans as many healthcare providers had to postpone the diagnosis and treatment of cancer cases. Moreover, social restrictions and lockdown measures resulted in the discontinuation of clinical trials.. Further, with the rise in COVID-19 burden, healthcare authorities had to conduct reprofiling of many hospitals and departments, including oncology clinics, for treating a large volume of patients. For Instance, in the Netherlands, cancer registry data show a significant reduction in cancer diagnosis compared to before the outbreak of COVID-19. In the UK, emergency referrals from primary care for people with suspected cancer reduced by 76%, and chemotherapy appointments for cancer patients decreased by 60% compared to the pre-COVID-19 levels. In France, the number of cancer diagnoses decreased by 35-50% in April 2020 compared to April 2019. As a result, disruptions in healthcare operations hampered the growth of the chemotherapy induced peripheral neuropathy market progress in 2020, due to the low number of chemotherapy sessions conducted during this period.

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