The US peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.6% during the forecast period. Significant rise in the prevalence of diabetes is the major factor accelerating the demand for peripheral neuropathy treatment in the US. As per the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, were living with diabetes in the US. There is an increased risk of developing nerve damage resulting due to diabetes. The most common form of diabetic neuropathy is peripheral neuropathy that affects the nerves in the arms, legs, hands, and feet. Nearly 50% of patients suffering from diabetes have some peripheral neuropathy. This, in turn, is driving the adoption of peripheral neuropathy treatment for nerve pain management. Several prescription medications are available for diabetes-associated nerve pain. Some antidepressants provide ease to nerve pain. Tricyclic antidepressants may support mild to moderate nerve pain. This class of drugs includes imipramine (Tofranil), amitriptyline, and desipramine (Norpramin).

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The US 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. Rising demand for chemotherapy coupled with the increasing prevalence of cancer is resulting significant incidences of chemotherapy-induced peripheral neuropathy in the country. 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.

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

The Report Covers

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