North American peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.2% during the forecast period. An increase in the number of launches for generic peripheral neuropathy drugs to reflect positively on the North America peripheral neuropathy treatment market. For instance, 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. It is one of the largest volume launches for Rising Pharmaceuticals in 2019 and will offer a cost-effective treatment alternative for patients suffering from debilitating neuropathic pain conditions.
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Additionally, in September 2019, Laurus Labs Ltd introduced the generic version of Lyrica, (pregabalin) capsules with all commercially available strengths (25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, & 300 mg) in the US market along with Rising Pharmaceuticals, a distribution partner of Laurus Labs Ltd. These capsules are also indicated for neuropathic pain management associated with diabetic peripheral neuropathy and others. The increase in new launches will support meeting the needs of healthcare professionals to provide reliable and cost-effective treatment to the patients, which in turn, will further accelerate the market growth.
Scope of the North American Peripheral Neuropathy Treatment Market
Market Coverage
· Market number available for 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Type and Application
· Countries Covered- US and Canada
· Competitive Landscape- Pfizer Inc., Grünenthal GmbH, Bristol Myers Squibb Co., and Eli Lilly and Co.
Recent Strategic Initiatives in the North American 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 November 2018, Grünenthal GmbH acquired a pharmaceutical firm based in the US, Averitas Pharma. This will enable Grünenthal to expand its geographical footprint in the US. Averitas Pharma will commercialize Qutenza (8 % capsaicin), the pain patch for Grünenthal in the US. This acquisition will enable Grünenthal to implement its growth strategy and enhancing its business across several geographies and pain-related therapeutic categories.
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North American Peripheral Neuropathy Treatment Market-Segmentation
By Type
· Antidepressants
· Pain Relievers
· Antiseizure
· Others
By Application
· Diabetes
· Chemotherapy-Induced
· Others
North American Peripheral Neuropathy Treatment Market– Segment by Country
· US
· Canada
Company Profiles
· Achelios Therapeutics, Inc.
· Acorda Therapeutics, Inc.
· Amneal Pharmaceuticals LLC
· Apotex Inc.
· Assertio Therapeutics, Inc.
· Bristol Myers Squibb Co.
· Eli Lilly and Co.
· Grünenthal GmbH
· Innovus Pharmaceuticals, Inc.
· Johnson & Johnson Services Inc.
· Pfizer Inc.
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