Significant Rise in Cancer Incidences to Drive the US Peripheral Neuropathy Treatment Market

The US peripheral neuropathy treatment market is estimated to grow at a CAGR of 4.6% during the forecast period. A significant rise in cancer incidences is the major factor leading to the increasing demand for peripheral neuropathy treatment in the country. As per the estimates by the American Cancer Society, in 2020, nearly 1.8 million new cancer cases will be diagnosed in the US. The rising cancer incidences are resulting adoption of chemotherapy which is most often used for cancer treatment. The therapy uses powerful chemicals to destroy fast-growing cells in the body. 

Browse the full report description of "US 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/us-peripheral-neuropathy-treatment-market

Some chemotherapy drugs can cause peripheral neuropathy including podophyllotoxins (etoposide and tenoposide), vinca alkaloids (vincristine), cisplatin, and paclitaxel.  Other drugs that are utilized for cancer treatment include interferon and thalidomide can also cause peripheral neuropathy. This, in turn, is driving the demand for peripheral neuropathy treatment, which include steroids, antidepressant, opioids or narcotics, anti-seizure medications, and patches or creams of numbing medicine. Tricyclic antidepressants may provide relied on mild to moderate nerve pain. Drugs used for this class include desipramine (Norpramin) and imipramine (Tofranil).  

Scope of the US 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
• Competitive Landscape- Pfizer Inc., Grünenthal GmbH, Bristol Myers Squibb Co., and Eli Lilly and Co.

Recent Strategic Initiatives in the US 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 July 2019, Rising Pharmaceuticals, Inc. declared the introduction of a generic version of Lyrica, (pregabalin) capsules in the US. These capsules are intended for neuropathic pain management related to diabetic peripheral neuropathy, for the management of fibromyalgia, and others. It is one of the largest volume launches for Rising Pharmaceuticals in 2019 and will offer a cost-effective treatment alternative for patients suffering from debilitating neuropathic pain conditions. 

Key questions addressed by the report

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

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected segment

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

US Peripheral Neuropathy Treatment Market-Segmentation

By Type

• Antidepressants
• Pain Relievers
• Antiseizure 
• Others 

By Application

• Diabetes 
• Chemotherapy-Induced 
• Others