Peripheral Neuritis Treatment Global Market Report 2025

The peripheral neuritis treatment market size has grown strongly in recent years. It will grow from $1.84 billion in 2024 to $1.93 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth during the historic period can be attributed to rising healthcare expenditure, an increase in chronic diseases, the growing prevalence of conditions linked to peripheral neuritis, a higher rate of diabetes, and a growing aging population.

The peripheral neuritis treatment market size is expected to see strong growth in the next few years. It will grow to $2.36 billion in 2029 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to the expanding range of treatment options, a rising geriatric population, increasing obesity rates, the prevalence of HIV/AIDS, the growth of the generic drug market, and government and healthcare initiatives. Key trends during this period include collaborations and partnerships, technological advancements, an increase in diabetic peripheral neuritis treatment product launches, a heightened focus on personalized medicine, the development of non-pharmacological therapies, and the integration of digital health tools.

The increasing prevalence of diabetes is expected to drive the expansion of the peripheral neuritis treatment market. Diabetes is a chronic condition that affects the body’s ability to regulate blood sugar (glucose) levels properly. The rising incidence of diabetes can be attributed to factors such as sedentary lifestyles, unhealthy diets, obesity, aging populations, and genetic predisposition. Peripheral neuritis treatment plays a crucial role in supporting diabetic individuals by alleviating nerve pain, reducing inflammation, and enhancing nerve function, thereby improving quality of life and preventing complications. For example, in November 2023, the American Diabetes Association, a US-based non-profit organization, reported that approximately 25.5 million people in the U.S. were diagnosed with diabetes in 2022, representing 7.6% of the total population. Consequently, the increasing prevalence of diabetes is fueling the growth of the peripheral neuritis treatment market.

Leading companies in the peripheral neuritis treatment market are focusing on developing innovative treatments, such as magnetic peripheral nerve stimulation (mPNS), to promote nerve regeneration and alleviate neuropathic pain. Magnetic peripheral nerve stimulation is a non-invasive neuromodulation technique that uses magnetic fields to stimulate peripheral nerves, aiding in pain management, nerve regeneration, and motor function improvement in conditions such as neuropathy and musculoskeletal disorders. For instance, in January 2024, Neuralace Medical Inc., a US-based medical equipment manufacturer, announced FDA approval for Axon Therapy (mPNS) for the treatment of chronic painful diabetic neuropathy (PDN). This therapy offers a quick, painless, and non-invasive approach to pain relief. Clinical trials demonstrated a 72.3% responder rate at Day 30 and an 81.4% responder rate at Day 90, underscoring its effectiveness in reducing pain and numbness. This approval represents a significant advancement in pain management, providing patients with an alternative to traditional treatments without the side effects of medication.

In October 2024, Alkem Laboratories Limited, an India-based pharmaceutical company, partnered with Sonnet BioTherapeutics to develop, manufacture, and commercialize SON-080, a drug candidate for treating diabetic peripheral neuropathy (DPN) in India. Sonnet BioTherapeutics is a US-based biotechnology company specializing in oncology.

Major players in the peripheral neuritis treatment market are Pfizer Inc., Johnson & Johnson (J&J), AstraZeneca Plc, Novartis AG, GSK plc, Takeda Pharmaceuticals & Co. Ltd., Eli Lilly and Co., Mallinckrodt Pharmaceuticals plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Sun Pharmaceutical Industries Ltd., Apotex Inc., Dr Reddys Laboratories Ltd., Cipla Inc., Amneal Pharmaceuticals LLC, Lupin Ltd., Daiichi Sankyo Co. Ltd., Glenmark Pharmaceuticals Ltd., Cadila Pharmaceuticals Ltd.

North America was the largest region in the peripheral neuritis treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in peripheral neuritis treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the peripheral neuritis treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Peripheral neuritis is characterized by inflammation or damage to the peripheral nerves, resulting in symptoms such as pain, weakness, numbness, and tingling. It is commonly caused by factors such as diabetes, infections, toxins, or nutritional deficiencies. Treatment options include medications, physical therapy, lifestyle adjustments, and addressing underlying conditions.

The primary treatment approaches for peripheral neuritis include pharmacological and non-pharmacological therapies. Pharmacological treatments involve the use of medications such as pain relievers, anticonvulsants, and antidepressants to alleviate pain and enhance nerve function. These medications are categorized into antidepressants, anticonvulsants, local anesthetics, analgesics, steroids, and other drug classes. They are distributed through various channels, including hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. These treatments are applied to conditions such as diabetic peripheral neuropathy, chemotherapy-induced peripheral neuropathy, idiopathic peripheral neuropathy, and others.

The peripheral neuritis treatment market research report is one of a series of new reports that provides peripheral neuritis treatment market statistics, including the peripheral neuritis treatment industry global market size, regional shares, competitors with the peripheral neuritis treatment market share, detailed peripheral neuritis treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the peripheral neuritis treatment industry. This peripheral neuritis treatment 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 neuritis treatment market consists of revenues earned by entities by providing services such as pharmacological treatment, physical therapy and rehabilitation, nutritional and dietary support, lifestyle management and patient education. The market value includes the value of related goods sold by the service provider or included within the service offering. The peripheral neuritis treatment market also includes sales of pain relievers, antidepressants, anticonvulsants, and corticosteroids. 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.

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