Market Highlights
The global peripheral neuropathy market is predicted to touch USD 292.40 million at a 3.9% CAGR between 2019- 2025, reveals the new Market Research Future (MRFR) report. Peripheral neuropathy develops the moment the nerves in the body’s extremities like arms, feet, and hands are damaged. The symptoms rest on the nerve type affected. Some of its common causes include damage in peripheral nerves causing numbness and weakness in feet and hands, exposure to toxins, inherited causes, metabolic problems, infections, traumatic injuries, and mostly due to diabetes mellitus. This disorder can be of different types such as HIV/AIDS-associated peripheral neuropathy, idiopathic peripheral neuropathy, chemotherapy-induced peripheral neuropathy (CIPN), and diabetic peripheral neuropathy (DPN).
Various factors are adding to the global peripheral neuropathy market share. These factors, as per the new MRFR report, include increasing innovations & advancements in peripheral neuropathy, rising awareness about peripheral neuropathy, and growing use of chemotherapy for cancer patients.
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On the contrary, strict government regulations may limit the peripheral neuropathy market growth over the forecast period.
Market Segmentation
The MRFR Report provides an inclusive segmental analysis of the global peripheral neuropathy market based on end user, treatment, and type.
By type, the peripheral neuropathy market is segmented into HIV/AIDS-associated peripheral neuropathy, idiopathic peripheral neuropathy, chemotherapy-induced peripheral neuropathy (CIPN), and diabetic peripheral neuropathy (DPN). Of these, the DPN segment will lead the market over the forecast period for its rising cases in youths having diabetes. The CIPN segment is predicted to grow at the fastest pace over the forecast period for increasing use of chemotherapy to treat cancer patients.
By treatment, the peripheral neuropathy market is segmented into non-pharmacological therapies, pharmacological therapies, and others. Of these, the pharmacological therapies segment is predicted to dominate the market over the forecast period for these therapies being the primary treatment for peripheral neuropathy.
By end users, the peripheral neuropathy market is segmented into ambulatory centers, hospitals and clinics, and others. Of these, hospitals and clinics will spearhead the market over the forecast period for the increasing awareness regarding the availability of advanced treatments in hospitals. The ambulatory centers, on the other hand, are predicted to grow at the fastest pace over the forecast period for the availability of advanced medical technology and specialized medical services.
Regional Analysis
Based on the region, the global peripheral neuropathy market report covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market over the forecast period. Canada & the US are the top contributors in the region for the rising prevalence of diabetes and the presence of top key players.
The peripheral neuropathy market in Europe is predicted to hold the second-largest share over the forecast period for the rising prevalence of cancer, increasing awareness, and the availability of peripheral neuropathy treatment options.
The peripheral neuropathy market in the APAC region is predicted to grow at the fastest pace over the forecast period for the increasing geriatric population having chronic diseases such as cancer and diabetes.
The peripheral neuropathy market in the MEA is predicted to have the smallest share over the forecast period for limited exposure to advancements in technology and limited healthcare infrastructure.
Key Players
Key players profiled in the global peripheral neuropathy market report include RxFunction, Inc. (US), F. Hoffmann-La Roche Ltd. (UK), Dr. Reddy's Laboratories (India), Lupin Limited (India), Cipla Limited (India), Merck and Co. Inc. (US), GlaxoSmithKline plc (UK), Pfizer Inc (US), Eli Lilly and Company (US), Novartis AG (UK), Bristol Myers Squibb (US), and Abbott Laboratories (US). Industry players have incorporated strategies such as strategic alliances, mergers, acquisitions, geographical expansions, partnerships, product launches, and collaborations to create a foothold in the market.
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