[Research Report] The chemotherapy induced peripheral neuropathy market is projected to reach US$ 1,174.26 million by 2028 from US$ 813.48 million in 2021; it is expected to register a CAGR of 5.4% from 2021 to 2028.
Chemotherapy-induced peripheral neuropathy is one of the most frequent side effects caused by antineoplastic agents. Clinically, it is a mostly sensory neuropathy that may be accompanied by motor and autonomic changes of varying intensity and duration. Due to its high prevalence among cancer patients, chemotherapy-induced peripheral neuropathy constitutes a major problem for both cancer patients and survivors as well as for their health care providers, especially because, at the moment, there is no single effective method of preventing it; moreover, the possibilities of treating this syndrome are limited.
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Chemotherapy Induced Peripheral Neuropathy Market: Strategic Insights
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Chemotherapy Induced Peripheral Neuropathy Market: Strategic Insights
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The report offers insights and in-depth analysis of the chemotherapy induced peripheral neuropathy (CIPN) market emphasizing market trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players across the world. Furthermore, the report includes the impact of the COVID-19 pandemic on the chemotherapy induced peripheral neuropathy market across all the regions. The pandemic has created both a public health crisis and an economic crisis worldwide. The global market for chemotherapy induced peripheral neuropathy before the pandemic was constantly growing owing to regularity of cancer screening, consultations, and treatments. The first wave of COVID-19 disrupted the consultations, follow-ups, and screenings of oncological cases. Moreover, disruptions in clinical trials and drug supply to patients during the early stage of the COVID-19 pandemic impacted the most crucial areas of the chemotherapy induced peripheral neuropathy market. A shift in focus to the prompt treatment of COVID-19 led to negligence toward various other medical conditions. In addition, the decrease in the detection of cancer cases and chemotherapy sessions for treatment hampered the demand for chemotherapy induced peripheral neuropathy diagnoses and treatments.
Market Insights
Increasing Prevalence of Cancer Drives Chemotherapy Induced Peripheral Neuropathy Market Growth
Cancer is a leading cause of death worldwide. According to the World Health Organization (WHO), cancer was reported as the first leading cause of death in the people of age below 70 years in 183 countries and the fourth leading cause of death among the population of all ages in 123 countries worldwide in 2019. In addition, as per the data published by the WHO in March 2021, different cancer types caused ~10 million deaths in 2020.
World’s Most Prevalent Forms of Cancer, 2020
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The increasing prevalence of cancer has created a burden on healthcare systems across the world, along with bolstering the demand for chemotherapy. Chemotherapy-induced peripheral neuropathy is a common adverse effect of neurotoxic anticancer drugs, such as platinum-derivative drugs (cisplatin and oxaliplatin), spindle poisons [taxanes (paclitaxel and docetaxel), vinca alkaloids, vincristine, epothilones, and eribulin], bortezomib, and thalidomide. The high prevalence of chemotherapy-induced peripheral neuropathy raises concerns about cancer patients and survivors, and their healthcare providers, especially because there is no single effective way to prevent this condition.
In a study conducted by “The Journal of the International Association for the Study of Pain,” chemotherapy-induced peripheral neuropathy prevalence was reported at 68.1% (57.7–78.4 when measured in the first month after chemotherapy, 60.0% (36.4–81.6) in the third month, and 30.0% (6.4–53.5) in the sixth month or later. Thus, the growing incidence of chemotherapy-induced peripheral neuropathy with the increasing prevalence of cancer boosts the growth of the chemotherapy-induced peripheral neuropathy market.
Drug Class-Based Insights
Based on drug class, the chemotherapy induced peripheral neuropathy market is segmented into steroids, antidepressants, anti-seizure, and narcotics. In 2021, the steroids segment held the largest share of the market. The anti-seizure segment is expected to register the fastest CAGR of 6.2% during the forecast period.
Distribution Channel-Based Insights
Based on distribution channel, the chemotherapy induced peripheral neuropathy market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. In 2021, the hospital pharmacy segment held the largest share of the market. Further, the retail pharmacy segment is expected to report the highest CAGR of 5.9% during 2021–2028.
The chemotherapy induced peripheral neuropathy (CIPN) market players focus on adopting organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide, as well as to meet the growing demands.
Chemotherapy Induced Peripheral Neuropathy Market Report Scope
By Geography
Based on geography, the chemotherapy induced peripheral neuropathy market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Company Profiles
- Regenacy Pharmaceuticals, Inc.
- Asahi Kasei Pharma Corporation
- Novaremed
- Makscientific, Llc
- Wex Pharmaceuticals Inc.
- Sova Pharmaceuticals, Inc.
- Kineta, Inc.
- Aptinyx Inc.
- Apexian Pharmaceuticals, Inc.
- Winsantor, Inc.
Chemotherapy Induced Peripheral Neuropathy Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 813.48 Million |
| Market Size by 2028 | US$ 1,174.26 Million |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Drug Class
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Drug Class, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The chemotherapy induced peripheral neuropathy market majorly consists of the players such as Regenacy Pharmaceuticals, Inc, Asahi Kasei Pharma Corporation., Novaremed, Makscientific, Llc, Wex Pharmaceuticals Inc., Sova Pharmaceuticals, Inc., Kineta, Inc., Aptinyx Inc., Apexian Pharmaceuticals, Inc., and Winsantor, Inc. amongst others.
Chemotherapy-induced peripheral neuropathy (CIPN) is one of the most frequent side effects caused by antineoplastic agents. Clinically, CIPN is a mostly sensory neuropathy that may be accompanied by motor and autonomic changes of varying intensity and duration. Due to its high prevalence among cancer patients, CIPN constitutes a major problem for both cancer patients and survivors as well as for their health care providers, especially because, at the moment, there is no single effective method of preventing CIPN; moreover, the possibilities of treating this syndrome are very limited.
The chemotherapy induced peripheral neuropathy market, by drug class, is bifurcated into steroids, antidepressants, anti-seizure medicines, and narcotics. In 2021, the steroids segment held the largest share of the market. The anti-seizure medicines segment of the chemotherapy induced peripheral neuropathy market is expected to witness growth in its demand at the fastest CAGR during the forecast period.
The factors that are driving and restraining factors that will affect the chemotherapy induced peripheral neuropathy market in the coming years. Major factors driving the market growth include the increasing prevalence of cancer and increasing preference for chemotherapy. Additionally, the growing clinical trials for chemotherapeutic drugs is likely to emerge as a significant future trend in the market during the forecast period. However, lack of consolidated guidelines for chemotherapy hamper the chemotherapy induced peripheral neuropathy market growth.
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The List of Companies - Chemotherapy Induced Peripheral Neuropathy Market
- REGENACY PHARMACEUTICALS, INC
- ASAHI KASEI PHARMA CORPORATION
- NOVAREMED
- MAKSCIENTIFIC, LLC
- WEX PHARMACEUTICALS INC
- SOVA PHARMACEUTICALS, INC
- KINETA, INC.
- APTINYX INC.
- APEXIAN PHARMACEUTICALS, INC.
- WINSANTOR, INC
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