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.
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Scope of the Global Peripheral Neuropathy Treatment Market
Market Coverage
- The market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Type and Application
- Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
- Competitive Landscape- Pfizer Inc., Grünenthal GmbH, Novartis International AG, Eli Lilly and Co., and Daiichi Sankyo Co. Ltd.
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.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Peripheral Neuropathy Treatment Market-Segmentation
By Type
- Antidepressants
- Pain Relievers
- Antiseizure
- Others
By Application
- Diabetes
- Chemotherapy-Induced
- Others
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
- Glenmark Pharmaceuticals, Ltd.
- Grünenthal GmbH
- Innovus Pharmaceuticals, Inc.
- Johnson & Johnson Services, Inc.
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