PUBLISHER: The Business Research Company | PRODUCT CODE: 1826971
PUBLISHER: The Business Research Company | PRODUCT CODE: 1826971
Peripheral neuritis is characterized by inflammation or damage to the peripheral nerves, resulting in symptoms such as pain, weakness, numbness, and tingling. It is commonly caused by factors such as diabetes, infections, toxins, or nutritional deficiencies. Treatment options include medications, physical therapy, lifestyle adjustments, and addressing underlying conditions.
The primary treatment approaches for peripheral neuritis include pharmacological and non-pharmacological therapies. Pharmacological treatments involve the use of medications such as pain relievers, anticonvulsants, and antidepressants to alleviate pain and enhance nerve function. These medications are categorized into antidepressants, anticonvulsants, local anesthetics, analgesics, steroids, and other drug classes. They are distributed through various channels, including hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. These treatments are applied to conditions such as diabetic peripheral neuropathy, chemotherapy-induced peripheral neuropathy, idiopathic peripheral neuropathy, and others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the resulting trade tensions in spring 2025 are having a significant impact on the healthcare sector, especially in the supply of essential medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are grappling with higher costs for imported surgical tools, imaging systems, and consumables like syringes and catheters, many of which have limited domestic substitutes. These escalating expenses are putting pressure on healthcare budgets, prompting some providers to delay equipment upgrades or pass increased costs on to patients. Furthermore, tariffs on raw materials and components are disrupting the manufacturing of vital drugs and devices, leading to supply chain delays. In response, the industry is adopting diversified sourcing strategies, expanding local production where feasible, and pushing for tariff exemptions on critical medical products.
The peripheral neuritis treatment market research report is one of a series of new reports from The Business Research Company that provides peripheral neuritis treatment market statistics, including the peripheral neuritis treatment industry global market size, regional shares, competitors with the peripheral neuritis treatment market share, detailed peripheral neuritis treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the peripheral neuritis treatment industry. This peripheral neuritis treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The peripheral neuritis treatment market size has grown strongly in recent years. It will grow from $1.84 billion in 2024 to $1.93 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increase in healthcare expenditure, the increase in chronic diseases, the growing burden of diseases associated with peripheral neuritis, higher prevalence rate of diabetic people and increasing aging population.
The peripheral neuritis treatment market size is expected to see steady growth in the next few years. It will grow to $2.34 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing number of treatment options, an increasing geriatric population, rising obesity rates, prevalence of HIV/AIDS, growth in generic drug market and government and healthcare initiatives. Major trends in the forecast period include collaboration and partnerships, technological advancement, the rise in diabetic peripheral neuritis treatment product launches, increased focus on personalized medicine, development of non-pharmacological therapies and integration of digital health tools.
The forecast of 4.9% growth over the next five years reflects a slight reduction of 0.1% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. Trade tensions could hinder U.S. adoption of advanced neuritis therapies by inflating prices of intravenous immunoglobulin (IVIG) and nerve conduction study equipment developed in Germany and Japan, resulting in delayed diagnoses and higher neurology clinic costs. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The increasing prevalence of diabetes is expected to drive the expansion of the peripheral neuritis treatment market. Diabetes is a chronic condition that affects the body's ability to regulate blood sugar (glucose) levels properly. The rising incidence of diabetes can be attributed to factors such as sedentary lifestyles, unhealthy diets, obesity, aging populations, and genetic predisposition. Peripheral neuritis treatment plays a crucial role in supporting diabetic individuals by alleviating nerve pain, reducing inflammation, and enhancing nerve function, thereby improving quality of life and preventing complications. For example, in November 2023, the American Diabetes Association, a US-based non-profit organization, reported that approximately 25.5 million people in the U.S. were diagnosed with diabetes in 2022, representing 7.6% of the total population. Consequently, the increasing prevalence of diabetes is fueling the growth of the peripheral neuritis treatment market.
Leading companies in the peripheral neuritis treatment market are focusing on developing innovative treatments, such as magnetic peripheral nerve stimulation (mPNS), to promote nerve regeneration and alleviate neuropathic pain. Magnetic peripheral nerve stimulation is a non-invasive neuromodulation technique that uses magnetic fields to stimulate peripheral nerves, aiding in pain management, nerve regeneration, and motor function improvement in conditions such as neuropathy and musculoskeletal disorders. For instance, in January 2024, Neuralace Medical Inc., a US-based medical equipment manufacturer, announced FDA approval for Axon Therapy (mPNS) for the treatment of chronic painful diabetic neuropathy (PDN). This therapy offers a quick, painless, and non-invasive approach to pain relief. Clinical trials demonstrated a 72.3% responder rate at Day 30 and an 81.4% responder rate at Day 90, underscoring its effectiveness in reducing pain and numbness. This approval represents a significant advancement in pain management, providing patients with an alternative to traditional treatments without the side effects of medication.
In October 2024, Alkem Laboratories Limited, an India-based pharmaceutical company, partnered with Sonnet BioTherapeutics to develop, manufacture, and commercialize SON-080, a drug candidate for treating diabetic peripheral neuropathy (DPN) in India. Sonnet BioTherapeutics is a US-based biotechnology company specializing in oncology.
Major players in the peripheral neuritis treatment market are Pfizer Inc., Johnson & Johnson (J&J), AstraZeneca Plc, Novartis AG, GSK plc, Takeda Pharmaceuticals & Co. Ltd., Eli Lilly and Co., Mallinckrodt Pharmaceuticals plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Sun Pharmaceutical Industries Ltd., Apotex Inc., Dr Reddys Laboratories Ltd., Cipla Inc., Amneal Pharmaceuticals LLC, Lupin Ltd., Daiichi Sankyo Co. Ltd., Glenmark Pharmaceuticals Ltd., Cadila Pharmaceuticals Ltd.
North America was the largest region in the peripheral neuritis treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in peripheral neuritis treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the peripheral neuritis treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The peripheral neuritis treatment market consists of revenues earned by entities by providing services such as pharmacological treatment, physical therapy and rehabilitation, nutritional and dietary support, lifestyle management and patient education. The market value includes the value of related goods sold by the service provider or included within the service offering. The peripheral neuritis treatment market also includes sales of pain relievers, antidepressants, anticonvulsants, and corticosteroids. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Peripheral Neuritis Treatment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on peripheral neuritis treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for peripheral neuritis treatment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The peripheral neuritis treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.