PUBLISHER: The Business Research Company | PRODUCT CODE: 1705607
PUBLISHER: The Business Research Company | PRODUCT CODE: 1705607
Peripheral neuropathy is a condition where the peripheral nerves, responsible for transmitting signals between the central nervous system (brain and spinal cord) and the rest of the body, suffer damage or dysfunction. Symptoms typically manifest as numbness, tingling, weakness, and pain, commonly affecting the hands and feet.
The primary types of peripheral neuropathy include chemotherapy-induced, diabetic, HIV/AIDS-associated, and idiopathic. Chemotherapy-induced neuropathy refers to complications resulting from chemotherapy treatment. Diagnosis involves blood tests, biopsies, imaging, and other methods, while treatment options encompass medications, antidepressants, anti-seizure drugs, pain relievers, topical treatments, therapies, nerve stimulation, plasma exchange, physical therapy, and more. End users of these treatments include hospitals, clinics, and ambulatory centers.
The peripheral neuropathy research report is one of a series of new reports from The Business Research Company that provides peripheral neuropathy market statistics, including the peripheral neuropathy industry's global market size, regional shares, competitors with a peripheral neuropathy market share, detailed peripheral neuropathy market segments, market trends and opportunities, and any further data you may need to thrive in the peripheral neuropathy industry. This peripheral neuropathy 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 neuropathy market size has grown rapidly in recent years. It will grow from $4.09 billion in 2024 to $4.62 billion in 2025 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to the increased prevalence of chronic diseases like diabetes, growth in awareness about neuropathic pain management, rise in geriatric population globally, expansion of healthcare infrastructure, availability of specialized treatment centers, government initiatives aimed at improved neurological healthcare services, growing adoption of novel treatment options.
The peripheral neuropathy market size is expected to see rapid growth in the next few years. It will grow to $7.52 billion in 2029 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to the continued rise in the prevalence of chronic diseases, particularly diabetes and cancer, advancements in pharmacological therapies targeting neuropathic pain pathways, increased investment in research and, development for innovative treatment modalities, integration of digital health solutions for remote monitoring and personalized management of neuropathic symptoms, heightened focus on patient-centric care models, improved access to multidisciplinary healthcare services. Major trends in the forecast period include increasing adoption of personalized treatment, growing use of wearable devices for real-time monitoring of neuropathic symptoms and treatment, expansion of telemedicine services for remote consultations and follow-ups, development of targeted therapies addressing specific neuropathic pain pathways and mechanisms, advancements in regenerative medicine techniques, integration of digital therapeutics platforms for cognitive behavioral therapy, mindfulness-based interventions, technological advancements in diagnostic tools for early detection and monitoring of peripheral neuropathy.
The increasing prevalence of diabetes is expected to drive the growth of the peripheral neuropathy market in the coming years. Diabetes is a chronic condition marked by elevated blood glucose levels due to the body's inability to produce or properly use insulin. The rise in diabetes cases is largely attributed to factors such as increasing obesity rates, sedentary lifestyles, and an aging population. Diabetes can lead to peripheral neuropathy, a condition caused by nerve damage from prolonged high blood sugar, resulting in symptoms like pain, tingling, and numbness in the extremities. Proper blood sugar management is essential to prevent or slow the progression of this complication. For example, in April 2023, The British Diabetic Association, a UK-based diabetes charity, reported that 4.3 million individuals in the UK were diagnosed with diabetes, with an increase of 148,951 cases from 2020-21 to 2021-22. Additionally, more than 2.4 million people in the UK are at high risk of developing type 2 diabetes. Consequently, the rising prevalence of diabetes is fueling the growth of the peripheral neuropathy market.
Leading companies in the peripheral neuropathy market are focusing on developing advanced solutions, including point-of-care devices, to enhance the diagnosis and management of the condition. Point-of-care peripheral neuropathy quantitative screening tests are diagnostic tools used to quickly detect nerve damage, particularly in individuals with diabetes. For example, NeuroMetrix Inc., a US-based medical device manufacturer, introduced the DPNCheck 2.0 in January 2023. This point-of-care device uses nerve conduction technology to assess peripheral nerve function quantitatively, offering rapid screening for conditions such as diabetic peripheral neuropathy (DPN). It represents a significant advancement over traditional methods such as monofilament and tuning fork tests, providing more efficient and accurate diagnostic capabilities.
In January 2022, Withings, a France-based connected health technology company, acquired Impeto Medical for an undisclosed sum. This acquisition includes Impeto's proprietary SUDOSCAN technology, which assesses the response of sweat glands in the palms and soles to detect potential nerve damage and monitor peripheral neuropathies. Impeto Medical is a France-based medical device manufacturer specializing in health status detection devices.
Major companies operating in the peripheral neuropathy market are Pfizer Inc., Merck and Co. Inc., Novartis AG, Bristol Myers Squibb Co, AstraZeneca Plc, Abbott Laboratories, Eli Lilly and Co., Asahi Kasei Corporation, Daiichi Sankyo Co. Ltd., Sun Pharmaceutical Industries Ltd, Aurobindo Pharma, Cadila Pharmaceuticals Ltd., Dr. Reddy's Laboratories, Cipla Ltd., Apotex Inc, Hikma Pharmaceuticals PLC, Lupin Limited, Grunenthal GmbH, ACI Limited, Lexicon Pharmaceuticals, Solasia Pharma KK, Helixmith Co. Ltd., PledPharma AB
North America was the largest region in the peripheral neuropathy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral neuropathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the peripheral neuropathy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The peripheral neuropathy market consists of revenues earned by entities by providing services such as neurological evaluation, pain management, physical therapy, occupational therapy, podiatry services, orthopedic support, nutritional counseling, psychological support, and medication management. The market value includes the value of related goods sold by the service provider or included within the service offering. The peripheral neuropathy market also includes sales of pain relief creams, orthopedic shoes, compression socks, tens devices, foot care kits, braces and supports, nutritional supplements, mobility aids, and assistive devices. 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 Neuropathy 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 neuropathy 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 neuropathy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The peripheral neuropathy 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 Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.