Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Chemotherapy Induced Peripheral Neuropathy Treatment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global market for chemotherapy-induced peripheral neuropathy (CIPN) treatments is poised for robust growth, with prospects brightening owing to escalating cancer cases worldwide. A comprehensive research report has been added to our system, providing an in-depth analysis of the CIPN treatment market's emerging trends, growth drivers, and innovative product developments that are positioned to redefine therapeutic approaches in this niche.
The increase in cancer prevalence significantly propels the demand for chemotherapy, leading to a subsequent uptick in occurrences of CIPN. This condition, characterized by nerve damage arising from chemotherapy agents, has captured the interest of various pharmaceutical players in the healthcare sector, prompting extensive research and development activities aimed at mitigating symptoms and improving quality of life for affected patients.
According to the report, the market is expected to escalate from its valuation of $1.43 billion in 2022 to an impressive $1.54 billion in 2023, reflecting a CAGR of 7.12%. Despite the challenges posed by global scenarios such as the Russia-Ukraine conflict and the ongoing recovery from the COVID-19 pandemic, the need for effective CIPN management courses through, with projections indicating a market size of $2.06 billion by 2027 at a CAGR of 7.57%.
Key Market Trends and Innovations
- Product innovation remains at the forefront of market expansion, with clinical-stage entities fast-tracking novel candidates aimed at complex pain management related to CIPN.
- Strategic acquisitions within the sector are enhancing the focus on neuropathic pain indications, thereby broadening the pipeline for potential therapeutic agents.
North America retains its dominance in the CIPN treatment market space, thanks to a robust healthcare structure and significant investment in oncological research. However, the Asia-Pacific and European regions are spotlighted for rapid growth during the forecast period, expanding access and treatment options across varied demographics.
Market Dynamics and Growth Drivers
The necessity to manage and alleviate the debilitating effects of CIPN fuels the market. Boasting an array of pharmaceutical offerings, including pain relievers, antidepressants, anticonvulsants, and topical agents, these therapies are integral to a holistic cancer treatment plan. The predominance of branded drugs alongside generic counterparts characterizes the current market landscape, with availability across hospital and retail pharmacies, as well as online platforms, fostering accessibility for patients and healthcare providers alike.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.54 billion |
| Forecasted Market Value (USD) by 2027 | $2.06 billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Sanofi SA
- Bristol Myers Squibb
- Abbott Laboratories
- Takeda Pharmaceutical Company
- Amgen Inc.
- Asahi Kasei Pharma Corporation
- Toray Industries
- Vertex Pharmaceuticals Inc.
- Alexion Pharmaceuticals Inc.
- BioMérieux SA
- Jazz Pharmaceuticals Inc.
- WEX Pharmaceuticals Inc.
- Quidel Corporation
- Laboratories Dr. Esteve S.A. (ESTEVE)
- Genentech Inc.
- MediciNova Inc.
- ChromaDex Corp
- WinSanTor Inc.
- Solasia Pharma K.K.
- NeuroMetrix Inc.
- Nemus Bioscience Inc.
- Aphios Corporation
- Kineta Inc.
- DARA BioSciences Inc.
- Aptinyx Inc.
- Apexian Pharmaceuticals Inc.
- Krenitsky Pharmaceuticals Inc.
For more information about this report visit https://www.researchandmarkets.com/r/26n4sk
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