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Impact Of Rising Diabetes Prevalence On The Growth Of The Peripheral Neuropathy Market: Key Factor Driving The Growth In The Peripheral Neuropathy Market
Peripheral Neuropathy
What Is the Expected Peripheral Neuropathy Market Size During the Forecast Period?
The peripheral neuropathy market has seen rapid growth recently. It will grow from $4.09 billion in 2024 to $4.62 billion in 2025, at a CAGR of 13.2%. Contributing factors include the rising prevalence of chronic diseases like diabetes, growing awareness about neuropathic pain management, an increasing geriatric population globally, expanding healthcare infrastructure, availability of specialized treatment centers, government initiatives for improved neurological care, and the growing adoption of novel treatments.
The peripheral neuropathy market is anticipated to grow rapidly, reaching $7.52 billion by 2029 at a CAGR of 12.9%. This growth is attributed to the rising prevalence of chronic diseases like diabetes and cancer, advancements in therapies targeting neuropathic pain, increased investment in innovative treatments, the integration of digital health solutions for symptom monitoring and personalized management, and a heightened focus on patient-centered care. Key trends include personalized treatment adoption, the use of wearable devices for symptom monitoring, expanded telemedicine services, targeted therapies for neuropathic pain pathways, regenerative medicine advancements, digital therapeutics, and improved diagnostic tools.
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What Are the High-Growth Segments in the Peripheral Neuropathy Market?
The peripheral neuropathy market covered in this report is segmented -
1) By Type: Chemotherapy-Induced, Diabetic, Human Immunodeficiency Virus (HIV) Or Acquired Immunodeficiency Syndrome (AIDS Associated, Idiopathic
2) By Diagnosis: Blood Test, Biopsy, Imaging, Other Diagnosis
3) By Treatment: Medications, Antidepressants, Anti-Seizure Medication, Pain Reliever, Topical Treatment, Therapies, Nerve Stimulation, Plasma Exchange, Physical Therapy, Other Treatments
4) By End-User: Hospitals, Clinics, Ambulatory Centers
Subsegments:
1) By Chemotherapy-Induced: Taxane-Induced Peripheral Neuropathy, Platinum-Based Drug-Induced Neuropathy, Other Chemotherapy-Induced Neuropathies
2) By Diabetic: Type 1 Diabetes-Induced Peripheral Neuropathy, Type 2 Diabetes-Induced Peripheral Neuropathy
3) By Human Immunodeficiency Virus (HIV) Or Acquired Immunodeficiency Syndrome (AIDS) Associated: HIV-Associated Peripheral Neuropathy, AIDS-Related Peripheral Neuropathy
4) By Idiopathic: Acute Idiopathic Neuropathy, Chronic Idiopathic Neuropathy
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What Key Drivers Are Expected to Influence Future Peripheral Neuropathy Market Growth?
The increasing prevalence of diabetes is expected to drive the growth of the peripheral neuropathy market. Diabetes, characterized by high blood sugar levels, is a leading cause of peripheral neuropathy, which damages the nerves and causes symptoms like pain and numbness. The British Diabetic Association reported a rise in diabetes cases in the UK, with many more at risk of developing type 2 diabetes, which is increasing the demand for treatments related to peripheral neuropathy.
Which Companies Hold the Largest Share Across Different Peripheral Neuropathy Market Segments?
Major companies operating in the peripheral neuropathy market are Pfizer Inc., Merck and Co. Inc., Novartis AG, Bristol Myers Squibb Co, AstraZeneca Plc, Abbott Laboratories, Eli Lilly and Co., Asahi Kasei Corporation, Daiichi Sankyo Co. Ltd., Sun Pharmaceutical Industries Ltd, Aurobindo Pharma, Cadila Pharmaceuticals Ltd., Dr. Reddy's Laboratories, Cipla Ltd., Apotex Inc, Hikma Pharmaceuticals PLC, Lupin Limited, Grunenthal GmbH, ACI Limited, Lexicon Pharmaceuticals, Solasia Pharma KK, Helixmith Co. Ltd., PledPharma AB
What Trends Are Expected to Dominate the Peripheral Neuropathy Market in the Next 5 Years?
Leading players in the peripheral neuropathy market are advancing diagnostic capabilities through the development of point-of-care devices. These devices help detect nerve damage in extremities more efficiently, especially in diabetic patients. For instance, in January 2023, US-based NeuroMetrix Inc. launched DPNCheck 2.0, a point-of-care diagnostic tool that uses nerve conduction technology for quick and precise detection of peripheral neuropathy, offering a significant improvement over traditional testing methods.
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What Are the Emerging Geographies for The Peripheral Neuropathy Market Growth?
North America was the largest region in the peripheral neuropathy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral neuropathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Peripheral Neuropathy Market?
2. What is the CAGR expected in the Peripheral Neuropathy Market?
3. What Are the Key Innovations Transforming the Peripheral Neuropathy Industry?
4. Which Region Is Leading the Peripheral Neuropathy Market?
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