Peripheral Neuritis Treatment Market to grow at a CAGR of 3.50%, size, share, Key factors

The peripheral neuritis treatment market deals with the treatment of the disease named as peripheral neuritis. Peripheral neuritis (also referred as peripheral neuropathy) is basically a condition in which the peripheral nervous system is damaged, resulting in a failure to send signals to and from the brain, spinal cord, and other body parts. The causes for the conditions might be the physical trauma, diabetes, autoimmune diseases, and other factors.

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Data Bridge Market Research analyses that the peripheral neuritis treatment market is expected to grow at a CAGR of 3.50% during the forecast period. The "diabetic peripheral neuropathy" accounts for the largest application segment in the peripheral neuritis treatment market within the forecasted period.

Peripheral Neuritis Treatment Market Dynamics

Opportunities

Furthermore, the few players are focusing on development of biologicals instead of synthetic drugs to treat peripheral neuritis owing to their better efficacy and less safety concerns which extend profitable opportunities to the market players in the forecast period of 2022 to 2029.

Drivers

Growing Cases of Diabetes

The growing burden of diseases associated with peripheral neuritis especially the diabetes and other autoimmune diseases along with the increasing number of geriatric populations across the globe are the most significant factor driving the growth for this market.

Growing healthcare infrastructure is further projected to cushion the growth of the market. Moreover, the increasing awareness of about treatment options, rising disposable income and changing lifestyle also cushions the market's growth within the forecasted period.

Key Players Covered are:

Some of the major players operating in the peripheral neuritis treatment market are Pfizer Inc, Assertio Holdings, Inc., Eli Lilly and Company, Honeywell International, Inc, Abbott, Bristol Myers Squibb, Cipla Limited, GlaxoSmithKline plc, Lupin, Merck and Co. Inc., Novartis AG, Pfizer Inc., Dr. Reddy's Laboratories Ltd., Mylan NV, Johnson & Johnson Services Inc., and Teva Pharmaceutical Industries Ltd., NIHON KOHDEN CORPORATION, Drägerwerk AG & Co. KGaA and WinSanTor, Inc, among others.

North America dominates the peripheral neuritis treatment market because of the increasing aging population and high prevalence of peripheral neuritis and availability of innovative therapeutics within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the presence of untapped opportunities due to extensive increase in healthcare infrastructure in the region.

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