Seattle, June 21, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global peripheral neuropathy treatment market is estimated to be valued at US$ 1,795.10 million in 2022 and is expected to exhibit a CAGR of 3.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Peripheral Neuropathy Treatment Market:
The key players operating in the market are focusing on product approvals and this is expected to drive the growth of global peripheral neuropathy treatment market. For instance, in December 2020, Nevro Corp, a medical device company in the U.S., announced that it submitted a pre-market approval to the U.S. Food and Drug Administration (FDA) to seek approval for its Senza System for the treatment of chronic pain associated with painful diabetic neuropathy.
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Key Market Takeaways:
The global peripheral neuropathy treatment market is expected to exhibit a CAGR of 3.8% during the forecast period due to the key players focusing on inorganic growth strategies such as agreement which is expected to drive the global peripheral neuropathy treatment market over the forecast period. For instance, in October 2020, Eli Lilly and Company is an American pharmaceutical company, announced a definitive agreement to acquire Disarm Therapeutics, a biotechnology company. As a result of this agreement, Eli Lilly and Company added Disarm’s SARM1 inhibitors, which is indicated for the treatment of peripheral neuropathy and other neurological diseases, to their product portfolio.
Based on Indication, diabetic peripheral neuropath segment is estimated to hold a dominant position in the global peripheral neuropathy treatment market in 2022, owing to increasing product approvals from the regulatory bodies for the treatment of diabetic neuropathy, which is expected to aid in growth of the diabetic peripheral neuropathy segment over the forecast period. For instance, in August 2020, Averitas Pharma – the U.S. subsidiary of the German pharmaceutical company Grünenthal, received the U.S. Food Drug and Administration approval for the Qutenza, a cutaneous patch that delivers prescription-strength capsaicin (8%) directly to the skin for the treatment of individuals suffering from diabetic peripheral neuropathy.
Among region, North America is estimated to exhibit higher CAGR in the global peripheral neuropathy treatment market over the forecast period due to key players focusing on novel therapy approvals from regulatory bodies for the treatment of diabetic peripheral neuropathy. For instance, In June 2019, Novadoz Pharmaceuticals, a pharmaceutical company, announced that it received the U.S. Food Drug and Administration approval for Pregabalin capsules, indicated for treatment of peripheral neuropathy.
Competitive Landscape:
Key players operating in the global peripheral neuropathy treatment market are Abbott Laboratories*, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Johnson & Johnson, Dr. Reddy’s Laboratories Ltd, Pfizer, Inc., Cipla Inc., Lupin Limited, Averitas Pharma, Inc., and NeuroBo Pharmaceuticals, Inc.
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Market Segmentation:
- Global Peripheral Neuropathy Treatment Market, By Indication :
- Diabetic Peripheral Neuropathy
- Chemotherapy-induced Peripheral Neuropathy
- Idiopathic Peripheral Neuropathy
- Others
- Global Peripheral Neuropathy Treatment Market, By Treatment :
- Pharmacological Therapies
- Pain Relievers
- Anti-seizure Medications
- Anti-depressants
- Non-pharmacological Therapies
- Transcutaneous Electrical Nerve Stimulation
- Plasma Exchange
- Others
- Pharmacological Therapies
- Global Peripheral Neuropathy Treatment Market, By End User :
- Hospital
- Ambulatory Centers
- Others
- Global Peripheral Neuropathy Treatment Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
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Nigeria Neuropathic Pain Management Drugs Market, by Drug Class (Anticonvulsants, Serotonin–norepinephrine Reuptake Inhibitors (SNRIs), Tricyclic Antidepressants, Nonsteroidal Anti-inflammatory Drugs (NSAIDs), and Others), by Disease Condition (Diabetic Neuropathy, Chemotherapy-induced Peripheral Neuropathy, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
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