The Chemotherapy Induced Peripheral Neuropathy Treatment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chemotherapy Induced Peripheral Neuropathy Treatment Global Market Report 2024, The chemotherapy induced peripheral neuropathy treatment market size has grown strongly in recent years. It will grow from $1.54 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to chemotherapy advancements, cancer treatment expansion, limited treatment options, increased cancer incidences, neurological research.
The chemotherapy induced peripheral neuropathy treatment market size is expected to see strong growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to targeted therapies development, neuroprotective agents, integrated care pathways, patient-centered care models, regulatory support. Major trends in the forecast period include novel drug formulations, non-pharmacological interventions, neuroplasticity-based therapies, long-term survivorship support, cognitive behavioral therapies.
The increasing prevalence of cancer is expected to propel the growth of the chemotherapy-induced peripheral neuropathy treatment market going forward. Cancer is a disease characterized by the uncontrolled growth and spread of abnormal cells in the body. Chemotherapy-induced peripheral neuropathy is a potential side effect of certain chemotherapy drugs used in the treatment of cancer. The chemotherapy-induced peripheral neuropathy treatment market is subjected to grow as there is a rise of cancer cases globally. For instance, in January 2023, according to the report published by the American Cancer Society, a US-based nationwide voluntary health organization dedicated to eliminating cancer, estimated new cases of liver cancer in females diagnosed in the United States increased from 12,660 in 2022 to 13,230 in 2023. Therefore, the increasing prevalence of cancers driving the growth of the chemotherapy-induced peripheral neuropathy treatment market.
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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
Product Innovation is the key trend gaining popularity in the chemotherapy-induced peripheral neuropathy treatment market. Major companies involved in the chemotherapy-induced peripheral neuropathy treatment market are focused on innovating new products to improve their observation power and sustain their position in the market. For instance, in March 2023, AlgoTx, a clinical-stage company specializing in complex pain management, disclosed the FDA’s approval of the Investigational New Drug Application (IND) for ATX01, their Phase 2 first-in-class candidate. This innovative treatment is intended for individuals with erythromelalgia. Meanwhile, the first patients in the ATX01 for the Pain of Chemotherapy (ACT) study of chemotherapy-induced peripheral neuropathy (CIPN) have been randomized. The FDA has given both programs fast-track designation.
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