US Peripheral Neuropathy Treatment Market is estimated to grow at a CAGR of 4.6% during the forecast period. Significant rise in the prevalence of diabetes is the major factor accelerating the demand for peripheral neuropathy treatment in the US. As per the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, were living with diabetes in the US. There is an increased risk of developing nerve damage resulting due to diabetes. The most common form of diabetic neuropathy is peripheral neuropathy that affects the nerves in the arms, legs, hands, and feet. Nearly 50% of patients suffering from diabetes have some peripheral neuropathy. This, in turn, is driving the adoption of peripheral neuropathy treatment for nerve pain management. Several prescription medications are available for diabetes-associated nerve pain. Some antidepressants provide ease to nerve pain. Tricyclic antidepressants may support mild to moderate nerve pain. This class of drugs includes imipramine (Tofranil), amitriptyline, and desipramine (Norpramin).
The US peripheral neuropathy treatment market is segmented based on type and application. Based on type, the market is classified into antidepressants, pain relievers, antiseizure, and others. Based on the application, the market is classified into diabetes, chemotherapy-induced, and others. Rising demand for chemotherapy coupled with the increasing prevalence of cancer is resulting significant incidences of chemotherapy-induced peripheral neuropathy in the country. Some chemotherapy drugs may cause peripheral neuropathy, which is resulting in the demand for peripheral neuropathy treatment in which analgesics, antidepressants, or anticonvulsants, as well as topical numbing agents including lidocaine, are often used for the management of pain.
Some prominent players in the market include Pfizer Inc., Grünenthal GmbH, Bristol Myers Squibb Co., and Eli Lilly and Co. Some strategic initiatives that are implemented by the market players include product launches and partnerships and collaborations. For instance, 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.
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US Peripheral Neuropathy Treatment Market-Segmentation
By Type
- Antidepressants
- Pain Relievers
- Antiseizure
- Others
By Application
- Diabetes
- Chemotherapy-Induced
- Others
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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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