The US peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.6% during the forecast period. A significant rise in cancer incidences is the major factor leading to the increasing demand for peripheral neuropathy treatment in the country. As per the estimates by the American Cancer Society, in 2020, nearly 1.8 million new cancer cases will be diagnosed in the US. The rising cancer incidences are resulting adoption of chemotherapy which is most often used for cancer treatment. The therapy uses powerful chemicals to destroy fast-growing cells in the body.
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Some chemotherapy drugs can cause peripheral neuropathy including podophyllotoxins (etoposide and tenoposide), vinca alkaloids (vincristine), cisplatin, and paclitaxel. Other drugs that are utilized for cancer treatment include interferon and thalidomide can also cause peripheral neuropathy. This, in turn, is driving the demand for peripheral neuropathy treatment, which include steroids, antidepressant, opioids or narcotics, anti-seizure medications, and patches or creams of numbing medicine. Tricyclic antidepressants may provide relied on mild to moderate nerve pain. Drugs used for this class include desipramine (Norpramin) and imipramine (Tofranil).
Scope of the US 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
· Competitive Landscape- Pfizer Inc., Grünenthal GmbH, Bristol Myers Squibb Co., and Eli Lilly and Co.
Recent Strategic Initiatives in the US 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. 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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US Peripheral Neuropathy Treatment Market-Segmentation
By Type
· Antidepressants
· Pain Relievers
· Antiseizure
· Others
By Application
· Diabetes
· Chemotherapy-Induced
· Others
Company Profiles
· Achelios Therapeutics, Inc.
· Acorda Therapeutics, Inc.
· Amneal Pharmaceuticals LLC
· Assertio Therapeutics, Inc.
· Bristol Myers Squibb Co.
· Eli Lilly and Co.
· Innovus Pharmaceuticals, Inc.
· Johnson & Johnson Services Inc.
· Pfizer Inc.
· Rising Pharma Holdings, Inc.
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