Peripheral Neuropathy Treatment Market, by Indication (Diabetic Peripheral Neuropathy, Chemotherapy-induced Peripheral Neuropathy, Idiopathic Peripheral Neuropathy, and others), by Treatment (Pharmacological Therapies(Pain Relievers, Anti-seizure Medications, Antidepressants) and Non-pharmacological Therapies (Transcutaneous Electrical Nerve Stimulation, Plasma Exchange, and Others), by End User (Hospital, Ambulatory Centers, and Others), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Peripheral neuropathy is a disorder of the peripheral nerves. These nerves send messages between the central nervous system, the brain and the spinal cord, and the rest of the body. Peripheral neuropathy can result from traumatic injuries, infections, metabolic problems, inherited causes, and exposure to toxins. One of the most common causes is diabetes. Peripheral neuropathy caused by either type 1 diabetes or type 2 diabetes is called diabetic polyneuropathy. Individual with peripheral neuropathy generally describe the pain as stabbing, burning or tingling. In many cases, symptoms improve, especially if caused by a treatable condition. Medications such as Lyrica, Cymbalta, etc can reduce the pain of peripheral neuropathy.
Market Dynamics
Key players operating in the global peripheral neuropathy treatment market are focusing on adoption growth strategies such as product launch, and approval which are expected to drive the market growth during the forecast period. For instance, in July 2019, Alembic Pharmaceuticals Limited, an Indian pharmaceutical company, announced that it received the approval from the U.S. Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Pregabalin Capsules that is used for peripheral neuropathic pain. Moreover, various government agencies focusing on investing funds in academic research institutes focusing on the research and development for treatment of chemotherapy-induced peripheral neuropathy which is expected to drive the market growth over forecast period. For instance, in November 2018, the U.S. National Cancer Institute awarded/invested US$ 2.3 Mn in Indiana University School of Medicine, a research institute in the U.S. The investment was made in Indiana University School of Medicine to accelerate the research and development of small, targeted molecule called APX3330 to prevent or reverse chemotherapy induced peripheral neuropathy (CIPN) caused by cancer drugs.
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