Peripheral neuropathy is a medical condition caused by damage or dysfunction of the peripheral nervous system, the vast communications network that transmits information from the brain and spinal cord to every other part of the body. Peripheral neuropathy treatments include medication, physical therapy, exercise, and pain-relieving techniques. These treatments aims to reduce symptoms, improve quality of life, and help patients cope with the condition.
The global Peripheral Neuropathy Treatment Market is estimated to be valued at US$ 1863.31 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of neurological disorders fueling the growth of the Peripheral Neuropathy Treatment Market. Peripheral neuropathy is a common complication of diabetes, with diabetes being a leading cause of neuropathy globally. According to the data by International Diabetes Federation, in 2019 around 463 million adults (20-79 years) were living with diabetes and the number is projected to rise to 700 million by 2045. Peripheral neuropathy affects nearly 50% of all people with diabetes at some point. The increasing cases of diabetes and other neurological disorders have contributed significantly to the growth of the peripheral neuropathy treatment market over the forecast period.
Segment Analysis
The peripheral neuropathy treatment market is segmented based on type, treatment, end-user and geography. Based on type, the diabetic peripheral neuropathy segment currently dominates the market. This is due to the high incidence rate of diabetes and subsequent peripheral nerve damage leading to numbness and pain. Based on treatment, the drug treatment segment holds the largest share due to availability of various drugs for peripheral neuropathy treatment.
Key Takeaways
The Global Peripheral Neuropathy Treatment Market Demand is estimated to be valued at US$ 1863.31 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023-2030.
The North America peripheral neuropathy treatment market holds the largest share currently due to high healthcare expenditure and increasing prevalence of diabetes in the region. The Asia Pacific region is expected to witness fastest growth over the forecast period owing to rising geriatric population, increasing awareness and improved healthcare facilities.
Key players operating in the Peripheral Neuropathy Treatment market are Abbott Laboratories, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Johnson & Johnson, Dr. Reddy€TMs Laboratories Ltd, Pfizer, Inc., Cipla Inc., Lupin Limited, Averitas Pharma, Inc., and NeuroBo Pharmaceuticals, Inc. Abbott Laboratories is a leader in peripheral neuropathy treatment owing to its robust product portfolio and strong distribution network globally. Teva Pharmaceutical Industries Ltd. holds a significant market share due to wide availability of its generic drugs.
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Peripheral Neuropathy Treatment Analysis is expected to hold a value of USD 292.40 Million by 2025 at a CAGR of 3.9%.The Peripheral Neuropathy Treatment Analysis In-Depth competition analysis of the major companies in the report, sector of the report includes the market depictions, requirements, and product portrayals, manufacture, competence, contact figures, cost, and revenue.Major Key PlayersThe key strategies followed by the players operating in the global Peripheral Neuropathy Treatment Analysis were innovation, product development, acquisition, and expansion.Abbott Laboratories (US)Bristol Myers Squibb (US)Novartis AG (UK)Eli Lilly and Company (US)Pfizer Inc (US)GlaxoSmithKline plc (UK)Merck and Co. Inc. (US)Cipla Limited (India)Lupin Limited (India)Reddy's Laboratories (India)Hoffmann-La Roche Ltd. (UK)RxFunction, Inc. (US)Market Segment AnalysisThe Global Peripheral Neuropathy Treatment Analysis has been segmented based on type, treatment, and end user.The market, based on type, has been divided into diabetic peripheral neuropathy (DPN), chemotherapy-induced peripheral neuropathy (CIPN), idiopathic peripheral neuropathy, and HIV/AIDS-associated peripheral neuropathy.The diabetic peripheral neuropathy (DPN)segment is likely to be the largest during the review period due to their increasing prevalence of diabetic peripheral neuropathy in youth with diabetes.The chemotherapy-induced peripheral neuropathy (CIPN) segment is predicted to be the fastest-growing due to increasing chemotherapy for the treatments of cancer patients.
Many market players come up with different treatment methods and devices with advanced technologies.
For instance, in June 2019, RxFunction launched sensory prosthesis for people with peripheral neuropathy.The global Peripheral Neuropathy Treatment Analysis has been segregated, on the basis of treatment, into pharmacological therapies, non-pharmacological therapies, and others.Regional AnalysisGeographically, the global Peripheral Neuropathy Treatment Analysis has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and AfricaBrowse Full Report Page Enabled with complete Table of Content at https://www.marketresearchfuture.com/reports/peripheral-neuropathy-market-8485 About Market Research Future: MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.Contact:+1 646 845 9312 | Email: [email protected]
