Global Peripheral Neuritis Treatment Overview 2025, Forecast To 2034
26 Mar, 2025
How Has the Peripheral Neuritis Treatment Market Size Evolved in Recent Years?
The peripheral neuritis treatment market has seen considerable growth due to a variety of factors.
• The market size for the treatment of peripheral neuritis has seen a significant increase in recent years. It is expected to rise from $1.84 billion in 2024 to $1.93 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%.
The substantial growth in the historic period is attributed to factors such as the rise in health care spending, an uptick in chronic illnesses, the increased impact of peripheral neuritis related diseases, a greater prevalence of diabetes and an aging population.
What Is The Forecast For The Peripheral Neuritis Treatment Market Size?
The peripheral neuritis treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for peripheral neuritis treatments is projected to observe robust expansion in the coming years, ultimately reaching a value of $2.36 billion by 2029 with a compound annual growth rate (CAGR) of 5.0%.
This projected surge can be traced back to a range of factors including an increase in treatment methods, growth in the ageing population, heightened obesity rates, prevalence of HIV/AIDS, expansion in the generic drug market, and government and healthcare initiatives. Key trends expected during this forecast period encompass collaborations and partnerships, advances in technology, a surge in product launches related to diabetic peripheral neuritis treatment, heightened emphasis on personalized medicine, the evolution of non-pharmacological therapies, and the incorporation of digital health resources.
What Are The Essential Drivers Behind The Growth Of The Peripheral Neuritis Treatment Market?
The increasing occurrence of diabetes is anticipated to accelerate the expansion of the peripheral neuritis treatment market in the future. Diabetes, a long-term health condition, arises when the body fails to maintain appropriate blood sugar (glucose) levels. The escalating prevalence of diabetes can be attributed to factors like inactive lifestyles, unhealthy dietary habits, obesity, an aging demographic, and genetic susceptibility. Peripheral neuritis treatment caters to diabetic individuals by alleviating nerve pain, mitigating inflammation, and augmenting nerve function, thus enhancing their living standards and averting complications. For example, the American Diabetes Association, a non-profit organization based in the U.S, reported in November 2023 that approximately 25.5 million individuals in the United States were diagnosed with diabetes in 2022, comprising 7.6% of the total populace. Consequently, the escalating prevalence of diabetes is fueling the expansion of the peripheral neuritis treatment market.
How Is The Global Peripheral Neuritis Treatment Market Divided Into Key Segments?
The peripheral neuritis treatment market covered in this report is segmented –
1) By Treatment Type: Pharmacological Therapies, Non Pharmacological Therapies
2) By Drug Class: Anti-Depressants, Anticonvulsants, Local Anesthesia, Analgesics, Steroids, Other Drug Classes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Drug Stores
4) By Application: Diabetic Peripheral Neuropathy, Chemotherapy-Induced Peripheral Neuropathy, Idiopathic Peripheral Neuropathy, Other Applications
Subsegments:
1) By Pharmacological Therapies: Pain Relievers (Analgesics), Antidepressants, Anticonvulsants, Topical Medications
2) By Non-Pharmacological Therapies: Physical Therapy, Transcutaneous Electrical Nerve Stimulation (TENS), Acupuncture, Lifestyle And Dietary Modifications
What Trends Are Reshaping The Future Of The Peripheral Neuritis Treatment Market?
Leading entities within the peripheral neuritis treatment market are channeling their resources towards the creation of groundbreaking treatments such as magnetic peripheral nerve stimulation (mPNS), aimed at promoting nerve recovery and minimizing neuropathic discomfort. mPNS is a non-invasive neuro-modification procedure that employs magnetic fields to activate peripheral nerves, a technique effective in pain management, nerve recovery, and boosting motor function in circumstances like neuropathy and musculoskeletal conditions. For example, in January 2024, US-based Neuralace Medical Inc., a renowned producer of medical equipment, launched Axon Therapy (mPNS), a treatment specifically for Chronic Painful Diabetic Neuropathy (PDN), sanctioned by the US-based regulatory body, the Food and Drug Administration. This therapy offers a speedy, pain-free, and non-invasive path to pain reduction. It recorded a 72.3% response rate on the 30th day and 81.4% on the 90th day, underlining its efficacy in alleviating pain and numbness. The approval of this therapy signifies a considerable progress in pain management, granting patients an alternative to conventional therapies without the consequences of medication.
Who Are the Key Players In The Peripheral Neuritis Treatment Market?
Major companies operating 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.
What Are The Regional Insights Into The Peripheral Neuritis Treatment Market?
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 the peripheral neuritis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.