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Peripheral Neuropathy Market Size Worth USD 8.54 Billion in 2032 | Emergen Research
Peripheral Neuropathy Market
Causes and Factors of Peripheral Neuropathy
Peripheral neuropathy, a condition characterized by nerve damage, can be caused by various factors including traumatic injuries, infections, metabolic issues, hereditary reasons, and exposure to toxins. Diabetes stands out as a prominent cause, affecting a significant portion of the population, with many unaware of their condition. Chronic kidney disease, hormonal imbalances, and exposure to chemotherapy are also linked to peripheral neuropathy.
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Pipeline Drugs and Innovations in Treatment
The market is witnessing a surge in pipeline drugs targeting various forms of peripheral neuropathy, offering potential novel treatments and driving adoption. Innovations such as gene therapy, stem cell therapy, and nerve growth factors are also promising avenues in treating and managing peripheral neuropathy.
Peripheral Neuropathy Market Restraints
While advancements in treatment are promising, the market faces challenges such as side effects from medications used to treat peripheral neuropathy. Balancing treatment efficacy with minimizing side effects remains a concern for patients and healthcare professionals alike.
Peripheral Neuropathy Market Trends
Novel interventions and therapies are emerging as a trend in the global peripheral neuropathy market, aiming to address the unmet needs of patients suffering from neuropathic pain. Additionally, advancements in diagnostic methods such as imaging and blood tests are aiding in the accurate diagnosis of peripheral neuropathy.
Peripheral Neuropathy Market Segment Insights
The diabetic peripheral neuropathy segment dominates the market, driven by the rising prevalence of diabetes worldwide. Chemotherapy-induced peripheral neuropathy (CIPN) is also expected to see significant growth, reflecting the widespread prevalence of CIPN as a side effect of neurotoxic chemotherapy.
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Peripheral Neuropathy Treatment Method Insights
Pharmacological therapies, including pain relievers and antidepressants, dominate the market, offering effective management of peripheral neuropathic pain. Non-pharmacological therapies such as transcutaneous electrical nerve stimulation (TENS) are gaining traction as complementary treatments.
Peripheral Neuropathy Diagnosis Insights
Blood tests and imaging are the primary methods for diagnosing peripheral neuropathy, offering precise and comprehensive diagnostic information to healthcare providers.
Peripheral Neuropathy Top Companies and Competitive Landscape
The global peripheral neuropathy market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective peripheral neuropathy solutions.
Some major players included in the global peripheral neuropathy market report are:
• Assertio Holdings, Inc
• AstraZeneca
• Abbott
• Cadila Pharmaceuticals
• Cipla Inc
• DAIICHI SANKYO COMPANY, LIMITED
• Reddy's Laboratories Ltd
• Eli Lilly and Co.
• Endo International plc
• Grünenthal
• Hikma Pharmaceuticals PLC
• Johnson & Johnson, Inc
• Lupin
• Novartis AG
• Pfizer Inc
• Shionogi & Co., Ltd
• Sun Pharmaceutical Industries Ltd
• Teva Pharmaceutical Industries Ltd
• UCB S.A.
• Viatris Inc
Peripheral Neuropathy Latest Industry News
• On 16 August 2022, Yostra Labs announced that the Indian Angel Network (IAN)-led seed investment round had yielded USD 0.56 million. Other participants included Impact Innovators and Entrepreneurs Foundation (Villgro Innovations Foundation) and the Centre for Cellular and Molecular Platforms. Yostra offers a line of unique diabetes neuropathy-focused devices that can prevent complications and improve the quality of life for those with the disease. The investment from IAN and co-investors is intended to enhance the company's market share, facilitate the commercialization of its product line, optimize the bill of materials, and increase production.
• On 27 July 2023, Asprius Lifesciences announced the development of a drug for the treatment of Diabetic Neuropathy, a disorder causing damage to nerves in the body's peripheral regions. The company has already submitted a patent application for the Fixed-Dose Combination (FDC), which holds potential as a treatment for peripheral neuropathy, a common ailment affecting over 2% of the world's population. Asprius Lifesciences aims to mitigate the effects of neuropathy by providing neuro-protective drugs and addressing medical disorders that increase the risk of neuropathy development.
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Peripheral Neuropathy Market Segment Analysis
For the purpose of this report, Emergen Research has segmented global peripheral neuropathy market on the basis of type, treatment method, route of administration, diagnosis, end-use, and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Diabetic Peripheral Neuropathy
o Chemotherapy-Induced Peripheral Neuropathy
o Idiopathic Peripheral Neuropathy
o HIV/AIDS Associated Peripheral Neuropathy
• Treatment Method Outlook (Revenue, USD Billion; 2019-2032)
o Pharmacological Therapies
1. Pain Relievers
2. Anti-Seizure Medications
3. Anti-Depressants
o Non-Pharmacological Therapies
1. Transcutaneous Electrical Nerve Stimulation
2. Plasma Exchange
3. Others
o Others
• Route of Administration Outlook (Revenue, USD Billion; 2019-2032)
o Oral
o Parenteral
o Others
• Diagnosis Outlook (Revenue, USD Billion; 2019-2032)
o Blood Test
o Biopsy
o Imaging
o Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals and Clinics
o Retail Pharmacy
o Online Pharmacy
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