What Factors Propelled The Growth Of The Chemotherapy Induced Peripheral Neuropathy Treatment Market In The Past?
The chemotherapy induced peripheral neuropathy treatment market has seen considerable growth due to a variety of factors.
•The market size for chemotherapy-induced peripheral neuropathy treatment has seen substantial growth in the past few years. It is projected to escalate from $1.66 billion in 2024 to $1.78 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%.
Factors contributing to the growth during this historical period include advancements in chemotherapy, the broadening scope of cancer treatment, a lack of sufficient treatment options, an increase in cancer cases, and neurological research.
What Is The Projected Growth And Market Size For The Chemotherapy Induced Peripheral Neuropathy Treatment Sector?
The chemotherapy induced peripheral neuropathy treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for treating chemotherapy-induced peripheral neuropathy is predicted to surge significantly in the coming years. The market is projected to increase to $2.5 billion by 2029, with a compound annual growth rate (CAGR) of 8.9%.
Boundary-breaking therapies, neuroprotective agents, holistic care approaches, patient-focused care models, and regulatory backing are all contributing to this anticipated growth. The forecast period will witness the emergence of new trends like innovative drug formulations, non-drug interventions, therapies based on neuroplasticity, long-term survivor support, and cognitive behavioral therapies.
Which Factors Are Boosting Growth In The Chemotherapy Induced Peripheral Neuropathy Treatment Market?
The surge in cancer cases is projected to fuel the expansion of the market for treatment of chemotherapy-induced peripheral neuropathy in future. Characterized by the rampant growth and dissemination of abnormal cells, cancer can lead to chemotherapy-induced peripheral neuropathy, a potential side effect of some chemotherapy drugs used to treat the illness. The market for treatment of chemotherapy-induced peripheral neuropathy is slated to expand with the global hike in cancer instances. For instance, the American Cancer Society, a voluntary U.S.-based health organization devoted to cancer elimination, reported in January 2023 that the estimated new liver cancer cases in female patients diagnosed in the U.S. rose from 12,660 in 2022 to 13,230 in 2023. Consequently, the escalating cases of cancer are propelling the expansion of the market for treatment of chemotherapy-induced peripheral neuropathy.
What Key Areas Define The Segmentation Of The Global Chemotherapy Induced Peripheral Neuropathy Treatment Market?
The chemotherapy induced peripheral neuropathy treatment market covered in this report is segmented –
1) By Drug Class: Nerve Protective Therapy, Anti-Inflammatory Therapy, Neurotransmitter Based Therapy, Antioxidant, Other Drug Classes
2) By Treatment: Medication, Therapy, Other Treatments
3) By Drug Type: Branded, Generic
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacies, Other Distribution Channels
5) By End-User: Hospitals, Research Institutes, Specialty Clinics
Subsegments:
1) By Nerve Protective Therapy: Vitamin B Complex, Alpha-Lipoic Acid, Acetyl-L-Carnitine
2) By Anti-Inflammatory Therapy: Corticosteroids, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
3) By Neurotransmitter Based Therapy: Gabapentin, Pregabalin, Duloxetine
4) By Antioxidant: N-acetylcysteine, Glutathione, Coenzyme Q10
5) By Other Drug Classes: Topical Treatments, Opioids, Herbal Remedies
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How Are Emerging Trends Reshaping The Dynamics Of The Chemotherapy Induced Peripheral Neuropathy Treatment Market?
The primary trend gaining traction in the chemotherapy-induced peripheral neuropathy treatment market is product innovation. A major focus of companies operating in this market is on developing new products to enhance their perceptibility and maintain their market position. For example, in March 2023, AlgoTx, a company engaged in the clinical-stage of complex pain management, has announced the FDA approval of the Investigational New Drug Application (IND) for their first-in-class Phase 2 candidate, ATX01. This innovative approach is targeted at individuals suffering from erythromelalgia. The initial patients for the ATX01 for the Pain of Chemotherapy (ACT) study, dealing with chemotherapy-induced peripheral neuropathy (CIPN), have been picked randomly. The FDA has fast-tracked the approval for these projects.
Who Are the Key Players in the Chemotherapy Induced Peripheral Neuropathy Treatment Market?
Major companies operating in the chemotherapy induced peripheral neuropathy treatment market include:
• Hoffmann-La Roche Ltd.
• Midatech Pharma PLC
• Novartis AG
• Lee's Pharmaceutical Holdings Limited
• RELIEF THERAPEUTICS Holding SA
• Eurofins Advinus
• WEX Pharmaceuticals Inc.
• Asahi Kasei Corporation
• MediciNova Inc.
• Solasia Pharma K.K.
• ESTEVE
• ChromaDex Inc.
• Apollo Endosurgery Inc.
• REGENACY PHARMACEUTICALS INC.
• Novaremed AG
• MAKScientific LLC
• Sova Pharmaceuticals Inc.
• Kineta Inc.
• Aptinyx Inc.
• Apexian Pharmaceuticals Inc.
• WinSanTor Inc.
• Alexion Pharmaceuticals Inc.
• Sanofi
• Takeda Pharmaceutical Company Limited
• Vertex Pharmaceuticals Incorporated
• Abbott Laboratories
• Acorda Therapeutics Inc.
• Galena Biopharma Inc.
• Incyte Corporation
What Is The Most Dominant Region In The Chemotherapy Induced Peripheral Neuropathy Treatment Market?
North America was the largest region in the chemotherapy induced peripheral neuropathy treatment market in 2024. Asia-Pacific and Europe are expected to be the fastest-growing regions in the forecast period. The regions covered in the chemotherapy induced peripheral neuropathy treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
