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The treatment of peripheral neuropathy includes an array of therapies intended to treat and alleviate nerve injury affecting the peripheral nervous system. Diabetes, neuropathy due to chemotherapy, autoimmune illnesses, infections, and trauma injuries accompany peripheral neuropathy commonly.
Treatment involves pharmacologic therapies including anticonvulsants, antidepressants, topically applied drugs, and opioids and includes non-pharmacologic treatments as well such as physical therapy, nerve stimulation therapies, and changes in living habits.
Targeted pharmacologic therapies and individualized medicines to treat the diverse causes of peripheral neuropathy have been increasingly emphasized during recent years.
The advent of regenerative medicine and gene therapy also holds some hope for changing the disease's course and not just its symptoms.
The market is witnessing steady growth as more number of healthcare systems globally focus on chronic disease management as well as neurology and nervous system health. Consequently, demand for combined, multimodality approaches to treatment for peripheral neuropathy keeps increasing as it enhances patients' quality and reduces healthcare expenditure over a sustained duration.
One of the major growth propellers to the treatment of peripheral neuropathy is the mounting prevalence of cancer-related and diabetes neuropathy. Diabetic peripheral neuropathy (DPN) is among the most frequent diabetes complications and affects almost 50% of diabetic patients throughout their lifetime.
In 2021, as stated by the International Diabetes Federation (IDF), an estimated 537 million adults lived with diabetes worldwide, and this number is likely to increase dramatically in the decades ahead. The increase in global diabetes burden is directly related to an increasing demand for neuropathy therapies.
In addition to that, chemotherapeutic agent-induced CIPN is a significant adverse reaction to commonly utilized chemotherapeutic drugs including paclitaxel, oxaliplatin, and vincristine. Now that cancer patients survive for prolonged periods as a result of early diagnosis and advanced treatments, more patients survive but suffer from late complication CIPN.
Therefore, an increasing need exists for treatments in neuropathy that reduce symptoms including numbness, tingling, and persistent pain and allow patients to lead a good quality of life after treatment.
The rising prevalence of both the conditions is driving innovation and broadening treatment pipelines for sustained growth in the market. Both - biotechnology and pharmaceutical firms are increasing their efforts toward developing symptomatic and disease-modifying therapies to satisfy increasing clinical demands.
Extensive research with respect to pharmacological and non-pharmacological therapies is playing a great role in contributing to the peripheral neuropathy therapeutics market growth. Investigations of pharmacological treatment have shifted toward mechanism-targeted therapies such as sodium channel antagonists and monoclonal antibodies. These new agents are more effective and have fewer systemic side effects as compared to legacy treatments such as opioids and antidepressants.
Concurrently, non-drug and non-medication alternative interventions like transcutaneous electrical nerve stimulation (TENS), spinal cord stimulation, and regenerative therapies on the basis of stem cells are gaining prominence since they improve symptoms in the long term without subjecting patients to reactions that are harmful when taking chronic medications.
Advances in wearable technologies and digital therapeutics also play their part in better disease management through real-time tracking and tailored wellness protocols.
For instance, FDA approvals for medication such as capsaicin 8% patch and cannabidiol-based therapies for neuropathic pain of specific types demonstrate increasing diversity in available treatment options in the marketplace. These innovations enhance patient compliance as well as enlarge the market through provision of options for patients who do not respond to traditional therapies.
As they advance, these therapies are increasing the breadth of treatment options and promoting an integrated approach regarding treatment of peripheral neuropathy in diverse patient population.
North America dominates the largest portion of the peripheral neuropathy therapeutics industry and is led by its primary contributor, i.e. the United States. Several reasons drive its dominance including high incidences of diabetes and cancer as well as developed healthcare infrastructure and broad access to specialized neurology care.
The Centers for Disease Control and Prevention (CDC) estimates that more than 38 million Americans suffer from diabetes that is a major contributor to peripheral neuropathy. Moreover, a rising number of cancer survivors lead to an increasing number of patients with cancer-induced neuropathy.
The nation is further supported by high R&D spending, FDA regulation, and early embracement of novel therapeutics and eHealth solutions. Numerous clinical trials are conducted across the nation to evaluate novel drug opportunities and minimally invasive interventions, fueling market growth. In addition, formal reimbursement policies and insurance benefits enhance treatment availability and patient treatment adherence.
American firms including Pfizer, Eli Lilly, and Johnson & Johnson lead the production and marketing of high-tech therapies for peripheral neuropathy. The priority of the country to support people in controlling chronic diseases, educate the patient population as well as customize medication puts it in a leading role as far as the emerging market is concerned.
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Peripheral Neuropathy Therapeutics Market
