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Peripheral Neuropathy Treatment Market to Witness Growth Acceleration by 2031

05-14-2024 02:12 PM CET | Health & Medicine

Press release from: Orion Market Research

Peripheral Neuropathy Treatment Market to Witness Growth

The global peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.3% during the forecast period. A significant rise in diabetes prevalence is the major factor in accelerating market growth. As per the International Diabetes Federation (IDF), in 2019, nearly 463 million adults (20-79 years) were suffering from diabetes, which is expected to reach 700 million by 2045. Uncontrolled high blood sugar can damage nerves and impede nerves' ability to transmit signals, which results in diabetic neuropathy. High blood sugar also impairs the walls of the capillaries (small blood vessels) that deliver the nerves with nutrients and oxygen. Peripheral neuropathy is a common type of diabetic neuropathy, which firstly affects the legs and feet, followed by the arms and hands.

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It is a severe diabetic complication that may affect nearly 50% of people suffering from diabetes. This, in turn, is contributing to the demand for peripheral neuropathy treatment. The most commonly used drugs for the condition include anti-seizure drugs, antidepressants, and pain-relievers. Anti-seizure medications include pregabalin (Lyrica) and gabapentin (Gralise, Neurontin). Some antidepressants are used to ease nerve pain, even the patient is not depressed. Tricyclic antidepressants may provide relied on mild to moderate nerve pain. Drugs used for this class include desipramine (Norpramin), imipramine (Tofranil), and amitriptyline.

Recent Strategic Initiatives in the Global Peripheral Neuropathy Treatment Market

• In July 2020, Grünenthal declared that its subsidiary Averitas Pharma, Inc. gained US FDA approval for QUTENZA (capsaicin) 8% patch to treat neuropathic pain related to diabetic peripheral neuropathy of the feet in adults. It is a topical, non-opioid pain, and non-systemic treatment that is delivered in the patch form. It is the first and only treatment of its kind that delivers prescription-strength capsaicin directly into the skin. The patch can offer sustained relief for up to three months. It has no known drug-drug interactions. Its adverse reactions comprise application site reactions, such as pruritus, erythema, and pain.

• In July 2019, Rising Pharmaceuticals, Inc. declared the introduction of a generic version of Lyrica, (pregabalin) capsules in the US. These capsules are intended for neuropathic pain management related to diabetic peripheral neuropathy, for the management of fibromyalgia, and others.

Global Peripheral Neuropathy Treatment Market-Segmentation

By Type

• Antidepressants
• Pain Relievers
• Antiseizure
• Others

By Application

• Diabetes
• Chemotherapy-Induced
• Others

A full report of Peripheral Neuropathy Treatment Market is available at: https://www.omrglobal.com/industry-reports/peripheral-neuropathy-treatment-market

Peripheral Neuropathy Treatment Market- Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Achelios Therapeutics, Inc.
• Acorda Therapeutics, Inc.
• Alembic Pharmaceuticals, Ltd.
• Amneal Pharmaceuticals LLC
• Apotex, Inc.
• Assertio Therapeutics, Inc.
• Bristol Myers Squibb Co.
• Cipla, Ltd.
• Daiichi Sankyo Company, Ltd.
• Eli Lilly and Co.
• GlaxoSmithKline plc

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Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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