At a CAGR of 3.6%, Global Peripheral Neuropathy Treatment Market to Surpass US$ 2,155.0 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global peripheral neuropathy treatment market is estimated to be valued at US$ 1,685.7 million in 2020 and is expected to exhibit a CAGR of 3.6% during the forecast period (2020-2027).

Key Trends and Analysis of the Global Peripheral Neuropathy Treatment Market:

Key trends in the market include increasing geriatric population, rising cases of diabetics and cancer cases, novel drug approvals and launches in the field of peripheral neuropathy treatment.

The increasing prevalence of diabetes is expected to boost the market growth over the forecast period. For instance, according to the study titled 'Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition', published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people were estimated to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

However, side effects of the drugs is expected to hinder the market growth. For instance, according to an article published by the U.S. Food & Drug Administration (U.S. FDA), in December 2019, announced safety concerns of gabapentin (Neuronti) or pregabalin (Lyrica), the drugs are used in the treatment for the management of neuropathic pain associated with diabetic peripheral neuropathy, have respiratory risk factors. Moreover, they also exhibit side effects including seizures, nerve pain, and restless legs syndrome.

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Key Market Takeaways:

The global peripheral neuropathy treatment market is expected to exhibit a CAGR of 3.6% during the forecast period, owing to rising geriatric population. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Drug approvals from regulatory authorities are expected to propel the market growth during the forecast period. For instance, in October 2017, Pfizer Inc., a U.S.-based pharmaceutical company received approval for Lyrica CR (pregabalin), an extended-release tablets, from U.S. Food & Drug Administration (U.S. FDA). This drug is approved for the treatment for the management of neuropathic pain associated with diabetic peripheral neuropathy (pDPN) and the management of postherpetic neuralgia (PHN).

Competitive Landscape:

Key players operating in the global peripheral neuropathy treatment market include Abbott, Bristol Myers Squibb, Cipla Limited, Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Merck and Co. Inc., Novartis AG, Pfizer Inc., Dr. Reddy's Laboratories, Mylan NV, Johnson & Johnson Services Inc., and Teva Pharmaceutical Industries Ltd., among others.

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Market Segmentation:

• Global Peripheral Neuropathy Treatment Market, By Type:
  • Diabetic Peripheral Neuropathy
  • Chemotherapy-induced Peripheral Neuropathy
  • Idiopathic Peripheral Neuropathy
  • Others
• Global Peripheral Neuropathy Treatment Market, By Treatment:
  • Pharmacological Therapies
    • Pain Relievers
    • Anti-seizure Medications
    • Antidepressants
  • Non-pharmacological Therapies
    • Transcutaneous Electrical Nerve Stimulation
    • Plasma Exchange and Intravenous Immune Globulin
    • Others
• Global Peripheral Neuropathy Treatment Market, By Distribution Channel:
  • Hospitals and Clinics
  • Ambulatory Centers
  • Others
• Global Peripheral Neuropathy Treatment Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

Related Market Intelligence Reports:

Neuropathic Pain Market, By Drug Class (Tricyclic Anti-Depressant, Anticonvulsant, Local Anaesthesia, Opioids, Steroids, Others), By Indication (Diabetic neuropathy, Chemotherapy-induced Peripheral neuropathy, Other), By Distribution Channel (Retail Pharmacies, Drug Store, Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Read more: https://www.coherentmarketinsights.com/market-insight/neuropathic-pain-market-3656

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.