Peripheral Neuropathy Market Analysis With Opportunity Segments For 2024-2033

The Business Research Company's Peripheral Neuropathy Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 16, 2024 /EINPresswire.com/ -- The peripheral neuropathy market has experienced robust growth in recent years, expanding from $3.62 billion in 2023 to $4.09 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. 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.

Strong Future Growth Anticipated
The peripheral neuropathy market is projected to continue its strong growth, reaching $6.66 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. 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.

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Growth Driver Of The Peripheral Neuropathy Market
The rising prevalence of diabetes is expected to propel the growth of the peripheral neuropathy market going forward. Diabetes refers to a chronic condition characterized by high levels of glucose in the blood due to the body's inability to produce or effectively use insulin. The rising prevalence of diabetes is primarily due to factors such as increasing rates of obesity, sedentary lifestyles, and aging populations. Diabetes can cause peripheral neuropathy by damaging nerves due to prolonged high blood sugar levels, leading to symptoms like pain, tingling, and numbness in the extremities. Effective blood sugar management is crucial to prevent or slow the progression of this complication.

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Major Players And Market Trends
Key players in the peripheral neuropathy market include Pfizer Inc., Merck and Co. Inc., Novartis AG, Bristol Myers Squibb Co, AstraZeneca Plc, Abbott Laboratories, Eli Lilly and Co., Asahi Kasei Corporation.
Major companies operating in the peripheral neuropathy market are focused on developing advanced solutions, such as point-of-care devices, to improve the diagnosis and management of the condition. A point-of-care peripheral neuropathy quantitative screening test is a diagnostic tool used to rapidly detect the presence of nerve damage in the extremities of individuals, particularly those with diabetes.

Segments:
1) By Type: Chemotherapy-Induced, Diabetic, Human Immunodeficiency Virus (HIV) Or Acquired Immunodeficiency Syndrome (AIDS Associated, Idiopathic
2) By Diagnosis: Blood Test, Biopsy, Imaging, Other Diagnosis
3) By Treatment: Medications, Antidepressants, Anti-Seizure Medication, Pain Reliever, Topical Treatment, Therapies, Nerve Stimulation, Plasma Exchange, Physical Therapy, Other Treatments
4) By End-User: Hospitals, Clinics, Ambulatory Centers

Geographical Insights: North America Leading The Market
North America was the largest region in the peripheral neuropathy market in 2023. 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.

Peripheral Neuropathy Market Definition
Peripheral neuropathy refers to a condition characterized by damage or dysfunction of the peripheral nerves, which transmit signals between the central nervous system (the brain and spinal cord) and the rest of the body. This disorder can cause various symptoms, including numbness, tingling, weakness, and pain, typically in the hands and feet.

Peripheral Neuropathy Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Peripheral Neuropathy Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on peripheral neuropathy market size, peripheral neuropathy market drivers and trends, peripheral neuropathy market major players, peripheral neuropathy competitors' revenues, peripheral neuropathy market positioning, and peripheral neuropathy market growth across geographies. The peripheral neuropathy market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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