Significant Cancer Incidences to Drive European Peripheral Neuropathy Treatment Market

European peripheral neuropathy treatment market is estimated to grow at a CAGR of 3.8% during the forecast period. Significant cancer incidences are one of the major factors accelerating the demand for peripheral neuropathy treatment in the region. As per the World Health Organization (WHO), the number of new cancer incidences reported was nearly 4.2 million in 2018. Significant cancer incidence is resulting in the demand for chemotherapy to destroy rapidly growing cells in the body. As per the European Commission (EC), up to 40% of all cancer patients develop chemotherapy-induced peripheral sensory neuropathy (CIPN), which signifies more than 1.6 million patients in European Union (EU) and 7.2 million globally may experience CIPN each year. 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.

Browse the full report description European Peripheral Neuropathy Treatment Market Size, Share & Trends Analysis Report, By Type (Antidepressants, Pain Relievers, Antiseizure, and Others), By Application (Diabetes, Chemotherapy-Induced, and Others) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/european-peripheral-neuropathy-treatment-market

Scope of the European Peripheral Neuropathy Treatment Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Type and Application
• Countries Covered- UK, Germany, France, Spain, Italy, and Rest of Europe
• Competitive Landscape- Pfizer Inc., Grünenthal GmbH, Novartis International AG, Bristol Myers Squibb Co., and Eli Lilly and Co.

Recent Strategic Initiatives in the European Peripheral Neuropathy Treatment Market

• 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. 
• In November 2018, Grünenthal GmbH acquired a pharmaceutical firm based in the US, Averitas Pharma. This will enable Grünenthal to expand its geographical footprint in the US. Averitas Pharma will commercialize Qutenza (8 % capsaicin), the pain patch for Grünenthal in the US. This acquisition will enable Grünenthal to implement its growth strategy and enhancing its business across several geographies and pain-related therapeutic categories.

Key questions addressed by the report

• What is the market growth rate?
• Which segment/country dominates the market in the base year?
• Which segment/country will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected country/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

European Peripheral Neuropathy Treatment Market-Segmentation

By Type

• Antidepressants
• Pain Relievers
• Antiseizure 
• Others 

By Application

• Diabetes 
• Chemotherapy-Induced 
• Others

European Peripheral Neuropathy Treatment Market– Segment by Country

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe