North American peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.2% during the forecast period. A significant rise in cancer incidences and increasing prevalence of diabetes are some pivotal factors encouraging market growth. As per the World Health Organization (WHO), in 2018, the number of new cancer incidences reported in North America was nearly 2.4 million. Of these, prostate (18.4%), lung (10.5%), colorectum (7.4%), bladder (5.5%) held the largest share in new cancer incidences in 2018. Growing cancer incidence has led to increasing demand for chemotherapy to destroy rapidly growing cancer cells in the body. However, some chemotherapy drugs may cause peripheral neuropathy, which 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.

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North American 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. Some antidepressants are used to ease nerve pain, even the patient is not depressed. Tricyclic antidepressants may provide relied on mild to moderate nerve pain. Drugs used for this class include desipramine (Norpramin), imipramine (Tofranil), and amitriptyline. Based on the application, the market is classified into diabetes, chemotherapy-induced, and others. As per the Centers for Disease Control and Prevention (CDC), in 2018, 34.2 million Americans, or 10.5% of the US population were suffering from diabetes. Diabetes is the most common form of neuropathic disorders. This, in turn, is supporting the adoption of peripheral neuropathy treatment to manage diabetic peripheral neuropathy. 

Some prominent players in the market include Pfizer Inc., Grünenthal GmbH, 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 July 2020, Grünenthal declared that its subsidiary Averitas Pharma, Inc. gained US FDA approval for QUTENZA (capsaicin) 8% patch to treat neuropathic pain related to diabetic peripheral neuropathy of the feet in adults. It is a topical, non-opioid pain, and non-systemic treatment that is delivered in the patch form. It is the first and only treatment of its kind that delivers prescription-strength capsaicin directly into the skin. The patch can offer sustained relief for up to three months. It has no known drug-drug interactions. Its adverse reactions comprise application site reactions, such as pruritus, erythema, and pain.

Research Methodology

The market study of the North American 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. North American Peripheral Neuropathy Treatment Market Research and Analysis by Type
2. North American Peripheral Neuropathy Treatment Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the North American 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 North American peripheral neuropathy treatment market.
• Insights about market determinants which are stimulating the North American peripheral neuropathy treatment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.