European peripheral neuropathy treatment market is estimated to grow at a CAGR of 3.8% during the forecast period. A significant rise in the prevalence of diabetes is resulting in an increasing demand for peripheral neuropathy treatment in the region. As per the International Diabetes Federation (IDF), in 2019, an estimated 59 million adults (20-79 years) had diabetes in the European region. Europe has the largest number of children and adolescents (0-19 years) suffering from type 1 diabetes with 296,500 in 2019. Diabetic peripheral neuropathy ultimately affects approximately 50% of adults suffering from diabetes during their lifetime. 

Uncontrolled high blood sugar can damage nerves and impede nerves' ability to transmit signals, which results in diabetic neuropathy. High blood sugar also impairs the walls of the capillaries (small blood vessels) that deliver the nerves with nutrients and oxygen. Peripheral neuropathy is a common type of diabetic neuropathy, which firstly affects the legs and feet, followed by the arms and hands. The main drugs that are used for neuropathic pain include amitriptyline, duloxetine, gabapentin, and pregabalin.

European peripheral neuropathy treatment market is segmented based on type and application. Based on type, the market is classified into antidepressants, pain relievers, antiseizure, and others. Based on the application, the market is classified into diabetes, chemotherapy-induced, and others. The rising number of new cancer cases has resulted in an increasing demand for chemotherapy to destroy rapidly growing cells in the body. As per the World Health Organization (WHO), in 2018, 4.2 million new cancer incidences were reported in the region. Some chemotherapy drugs that are used for cancer treatment may cause peripheral neuropathy. This is resulting in the demand for peripheral neuropathy treatment in which analgesics, antidepressants, or anticonvulsants, as well as topical numbing agents including lidocaine, are often used for the management of pain. Additionally, opioids may be used in cases that involve extreme pain.

Based on countries, the market is segmented into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany has been witnessed significant demand for peripheral neuropathy treatment owing to the rising incidences of diabetes in the country. As per the IDF, in 2019, total diabetes cases in adults was 9.5 million. This results in an increasing demand for some antidepressants that are used to ease nerve pain. Tricyclic antidepressants may provide relied on mild to moderate nerve pain. Drugs used for this class include desipramine (Norpramin), imipramine (Tofranil), and amitriptyline. 

Some prominent players in the market include Pfizer Inc., Grünenthal GmbH, Novartis International AG, Bristol Myers Squibb Co., and Eli Lilly and Co. Some strategic initiatives that are implemented by the market players include product launches and partnerships and collaborations. For instance, in March 2018, RegeneRx Biopharmaceuticals, Inc. declared that the European Patent Office granted a new patent to treat peripheral neuropathy patients with the use of Thymosin beta 4 (T?4).  It is an active pharmaceutical ingredient in the proprietary drug candidate of RegeneRx, RGN-352. It is a first-in-class injectable formulation intended for systemic administration.   

Research Methodology

The market study of the European peripheral neuropathy treatment market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Peripheral Neuropathy Treatment Market Research and Analysis by Type
2. European Peripheral Neuropathy Treatment Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the European peripheral neuropathy treatment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European peripheral neuropathy treatment market.
• Insights about market determinants which are stimulating the European peripheral neuropathy treatment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.