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The global peripheral neuropathy treatment market reached a value of about USD 737 million in 2022 and is expected to grow at a CAGR of 3.7% during the forecast period of 2023-2031. With the rising prevalence of chronic diseases, which increase the risk of peripheral neuropathy in chronic disease patients, the market is expected to reach USD 1022 million by 2031.
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Peripheral neuropathy is a catch-all term for nerve diseases that affect a specific part of the nervous system. Peripheral neuropathy occurs when the nerves are damaged or destroyed and no longer functioning properly. This interferes with the normal functioning of the nerves. They may send pain signals when there is nothing causing pain, or they may not send a pain signal even if something is causing the pain. This could be because of systemic illness, infection, injury, an inherited disorder hormonal imbalance, certain medications, or vitamin deficiency.
Anyone, regardless of age, gender, race or ethnicity, personal circumstances, medical history, or other factors, can develop peripheral neuropathy. However, some people are predisposed to certain types of peripheral neuropathy. Some age-related diseases are also associated with peripheral neuropathy. As a result, the risk of developing peripheral neuropathy rises with age.
In the body, there are three types of nerves. Doctors will diagnose the type of peripheral neuropathy based on the group of nerves that it affects. The three groups are as follows:
Peripheral neuropathy is usually diagnosed using a combination of methods. Some of the examples are:
According to the peripheral neuropathy treatment market research report, the market can be categorised into the following segments:
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Market Breakup by Type
Market Breakup by Treatment Method
Peripheral Neuropathy Treatment Market Breakup by End User
Market Breakup by Treatment Channel
Market Breakup by Region
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Peripheral neuropathy is common because it refers to so many different conditions. Peripheral neuropathy affects approximately 2.4% of the world's population. That percentage rises to between 5% and 7% among people aged 45 and above. Peripheral neuropathy affects approximately 2.4% of the population. In older populations, the prevalence rises to 8%.
Peripheral neuropathy can be a symptom of a variety of pathologies that require further investigation and/or treatment. Furthermore, peripheral neuropathies must be treated before they cause complications, such as falls that result in hip fractures or pedal infections that necessitate amputation.
Peripheral neuropathy treatment can vary greatly depending on the cause. In general, the following methods of treatment are more commonly used for peripheral neuropathy:
Medications: Many medications are available to treat peripheral nervous system issues. Injections, pills taken by mouth, patches that stick to the skin, slow-release medication, and other options are available.
Surgery: Surgery can help reconnect severed nerves and alleviate pain caused by trapped nerves. It can also cut or remove damaged or malfunctioning nerves, preventing signals from reaching the brain and vice versa.
Physical Therapy: This can assist in recovering from injuries or medical procedures, as well as improving pain symptoms. It can also help adapt to changes in the nervous system, such as improving balance and preventing falls.
Wearable Devices and Equipment: These include medical devices such as braces, canes, and walkers, and prescribed footwear. These do not treat peripheral neuropathy directly, but they can help prevent complications. One example is special footwear for people with Type 2 diabetes who have peripheral neuropathy.
If standard medications do not relieve the pain from peripheral neuropathy or nerve injury, pain specialists may occasionally recommend alternative treatments, such as acupuncture, transcutaneous electrical nerve stimulation, injections, or surgery to implant a spinal cord stimulator.
The rising prevalence of chronic diseases such as diabetes, cancer, and hypothyroidism, which increase the risk of peripheral neuropathy in chronic disease patients, and rising cancer prevalence is expected to drive the global peripheral neuropathy treatment market growth over the forecast period.
High product costs and the availability of alternative treatments, as well as stringent regulatory compliance and device recalls, are major factors impeding growth in the global market. The rising cost of drugs used in the treatment of peripheral neuropathy and the increasing availability of alternative therapies for the treatment of peripheral neuropathy, are some of the factors constraining the market growth.
The report gives an in-depth analysis of the key players involved in the global peripheral neuropathy treatment market, sponsors manufacturing the therapies, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Type||
|Breakup by Therapeutics Method||
|Breakup by End User||
|Breakup by Treatment Channel||
|Breakup by Region||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1.1 Objectives of the Study
1.1.1 Research Objectives
1.1.2 Key Findings of the Report
1.2 Limitations of the Study and Scope for Future Research
2 Research Methodology
3 Executive Summary
4 Global Peripheral Neuropathy Overview
4.1 Guidelines and Stages
4.3 Screening and Diagnosis
4.4 Treatment Pathway
5 Patient Profile
5.1 Patient Profile Overview
5.2 Patient Psychology and Emotional Impact Factors
5.3 Risk Assessment and Treatment Success Rate
6 Global Peripheral Neuropathy Treatment Market
6.1 Global Peripheral Neuropathy Treatment Market Overview
6.2 Global Peripheral Neuropathy Treatment Market Analysis
6.2.1 Market Overview
184.108.40.206 Global Peripheral Neuropathy Treatment Market Historical Value (2016-2022)
220.127.116.11 Global Peripheral Neuropathy Treatment Market Forecast Value (2023-2031)
6.3 Global Peripheral Neuropathy Treatment Market by Type
6.3.1 Market Overview
18.104.22.168 Diabetic Peripheral Neuropathy
22.214.171.124 Chemotherapy-Induced Peripheral Neuropathy
126.96.36.199 Idiopathic Peripheral Neuropathy
188.8.131.52 HIV/AIDS Associated Peripheral Neuropathy
6.4 Global Peripheral Neuropathy Treatment Market by Therapeutics Method
6.4.1 Market Overview
184.108.40.206 Pharmacological Therapies
220.127.116.11.1 Pain Relievers
18.104.22.168.2 Anti-Seizure Medications
22.214.171.124 Non-Pharmacological Therapies
126.96.36.199.1 Transcutaneous Electrical Nerve Stimulation
188.8.131.52.2 Plasma Exchange
6.5 Global Peripheral Neuropathy Treatment Market by End User
6.5.1 Market Overview
184.108.40.206 Hospitals And Clinics
220.127.116.11 Retail Pharmacy
18.104.22.168 Online Pharmacy
6.6 Global Peripheral Neuropathy Treatment Market by Treatment Channel
6.7 Global Peripheral Neuropathy Treatment Market by Region
6.7.1 Market Overview
22.214.171.124 North America
126.96.36.199.1 Historical Trend (2016-2022)
188.8.131.52.2 Forecast Trend (2023-2031)
184.108.40.206.1 Historical Trend (2016-2022)
220.127.116.11.2 Forecast Trend (2023-2031)
18.104.22.168 Asia Pacific
22.214.171.124.1 Historical Trend (2016-2022)
126.96.36.199.2 Forecast Trend (2023-2031)
188.8.131.52 Latin America
184.108.40.206.1 Historical Trend (2016-2022)
220.127.116.11.2 Forecast Trend (2023-2031)
18.104.22.168 Middle East and Africa
22.214.171.124.1 Historical Trend (2016-2022)
126.96.36.199.2 Forecast Trend (2023-2031)
7 North America Peripheral Neuropathy Treatment by Treatment Market
7.1 United States of America
7.1.1 Historical Trend (2016-2022)
7.1.2 Forecast Trend (2023-2031)
7.2.1 Historical Trend (2016-2022)
7.2.2 Forecast Trend (2023-2031)
8 Europe Peripheral Neuropathy Treatment by Treatment Market
8.1 United Kingdom
8.1.1 Historical Trend (2016-2022)
8.1.2 Forecast Trend (2023-2031)
8.2.1 Historical Trend (2016-2022)
8.2.2 Forecast Trend (2023-2031)
8.3.1 Historical Trend (2016-2022)
8.3.2 Forecast Trend (2023-2031)
8.4.1 Historical Trend (2016-2022)
8.4.2 Forecast Trend (2023-2031)
9 Asia Pacific Peripheral Neuropathy Treatment by Treatment Market
9.1.1 Historical Trend (2016-2022)
9.1.2 Forecast Trend (2023-2031)
9.2.1 Historical Trend (2016-2022)
9.2.2 Forecast Trend (2023-2031)
9.3.1 Historical Trend (2016-2022)
9.3.2 Forecast Trend (2023-2031)
9.4.1 Historical Trend (2016-2022)
9.4.2 Forecast Trend (2023-2031)
9.5.1 Historical Trend (2016-2022)
9.5.2 Forecast Trend (2023-2031)
10 Latin America Peripheral Neuropathy Treatment by Treatment Market
10.1.1 Historical Trend (2016-2022)
10.1.2 Forecast Trend (2023-2031)
10.2.1 Historical Trend (2016-2022)
10.2.2 Forecast Trend (2023-2031)
10.3.1 Historical Trend (2016-2022)
10.3.2 Forecast Trend (2023-2031)
11 Middle East and Africa Peripheral Neuropathy Treatment by Treatment Market
11.1 Saudi Arabia
11.1.1 Historical Trend (2016-2022)
11.1.2 Forecast Trend (2023-2031)
11.2 United Arab Emirates
11.2.1 Historical Trend (2016-2022)
11.2.2 Forecast Trend (2023-2031)
11.3.1 Historical Trend (2016-2022)
11.3.2 Forecast Trend (2023-2031)
11.4 South Africa
11.4.1 Historical Trend (2016-2022)
11.4.2 Forecast Trend (2023-2031)
12 Current Scenario Evaluation and Regulatory Framework
12.1 Emerging Therapies and Clinical Trials Synopsis
12.2 Patent Landscape
12.2.1 Patent Overview
188.8.131.52 Patent Status and Expiry
184.108.40.206 Timelines from Drug Development to Commercial Launch
220.127.116.11 New Drug Application
18.104.22.168.1 Documentation and Approval Process
12.3 Cost of Treatment
12.4 Regulatory Framework
12.4.1 Regulatory Overview
22.214.171.124 US FDA
126.96.36.199 EU EMA
188.8.131.52 INDIA CDSCO
184.108.40.206 JAPAN PMDA
13 Challenges and Unmet Needs
13.1 Treatment Pathway Challenges
13.2 Compliance and Drop-Out Analysis
13.3 Awareness and Prevention Gaps
14 Global Peripheral Neuropathy Treatment Market Dynamics
14.1 Market Drivers and Constraints
14.2 SWOT Analysis
14.3 Porter’s Five Forces Model
14.4 Key Demand Indicators
14.5 Key Price Indicators
14.6 Industry Events, Initiatives and Trends
14.7 Value Chain Analysis
15 Supplier Landscape
15.1 Abbott Laboratories
15.1.1 Company Overview
15.1.2 Product Portfolio
15.1.3 Demographic Reach and Achievements
15.1.4 Mergers and Acquisitions
15.2 Bristol Myers Squibb Co
15.2.1 Company Overview
15.2.2 Product Portfolio
15.2.3 Demographic Reach and Achievements
15.2.4 Mergers and Acquisitions
15.3 Novartis AG
15.3.1 Company Overview
15.3.2 Product Portfolio
15.3.3 Demographic Reach and Achievements
15.3.4 Mergers and Acquisitions
15.4 Eli Lilly and Company
15.4.1 Company Overview
15.4.2 Product Portfolio
15.4.3 Demographic Reach and Achievements
15.4.4 Mergers and Acquisitions
15.5 Pfizer Inc.
15.5.1 Company Overview
15.5.2 Product Portfolio
15.5.3 Demographic Reach and Achievements
15.5.4 Mergers and Acquisitions
15.6 GlaxoSmithKline Plc
15.6.1 Company Overview
15.6.2 Product Portfolio
15.6.3 Demographic Reach and Achievements
15.6.4 Mergers and Acquisitions
15.7 Merck and Co. Inc.
15.7.1 Company Overview
15.7.2 Product Portfolio
15.7.3 Demographic Reach and Achievements
15.7.4 Mergers and Acquisitions
15.8 F. Hoffmann-La Roche Ltd
15.8.1 Company Overview
15.8.2 Product Portfolio
15.8.3 Demographic Reach and Achievements
15.8.4 Mergers and Acquisitions
15.9 Cipla Ltd.
15.9.1 Company Overview
15.9.2 Product Portfolio
15.9.3 Demographic Reach and Achievements
15.9.4 Mergers and Acquisitions
15.10 Lupin Ltd
15.10.1 Company Overview
15.10.2 Product Portfolio
15.10.3 Demographic Reach and Achievements
15.10.4 Mergers and Acquisitions
15.11 Dr. Reddy’s Laboratories
15.11.1 Company Overview
15.11.2 Product Portfolio
15.11.3 Demographic Reach and Achievements
15.11.4 Mergers and Acquisitions
15.12 RxFunction, Inc.
15.12.1 Company Overview
15.12.2 Product Portfolio
15.12.3 Demographic Reach and Achievements
15.12.4 Mergers and Acquisitions
16 Recommendations and Discussion
17 Global Peripheral Neuropathy Treatment Drugs Distribution Model (Additional Insight)
17.2 Potential Distributors
17.3 Key Parameters for Distribution Partner Assessment
18 Payment Methods (Additional Insight)
18.1 Government Funded
18.2 Private Insurance
*Additional insights provided are customisable as per client requirements.
The market attained a value of USD 737 million in 2022.
The market is likely to grow at a CAGR of 3.7% during the forecast period of 2023-2031.
The market is expected to reach a value of USD 1022 million by 2031.
The rising prevalence of chronic diseases, such as diabetes, cancer, and hypothyroidism, increases the risk of peripheral neuropathy in chronic disease patients.
The major regional markets include North America, Europe, Latin America, Middle East and Africa, and Asia Pacific.
The major types include diabetic, chemotherapy-induced, idiopathic, and HIV/AIDS associated peripheral neuropathy.
The key players in the market include Abbott Laboratories, Bristol Myers Squibb Co, Novartis AG, Eli Lilly and Company, Pfizer Inc., GlaxoSmithKline Plc, Merck and Co. Inc., F. Hoffmann-La Roche Ltd, Cipla Ltd., Lupin Ltd, Dr. Reddy’s Laboratories, and RxFunction, Inc., among others.
High product costs, availability of alternative treatments, and stringent regulatory compliance and device recalls, are major factors impeding the market growth.
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