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Peripheral Neuropathy Market Research Report Information by Type (Diabetic Peripheral Neuropathy, Chemotherapy-induced Peripheral Neuropathy, Idiopathic Peripheral Neuropathy, HIV/AIDS Associated Peripheral Neuropathy), by Treatment (Pharmacological Therapies {Pain Relievers, Anti-seizure Medications, Antidepressants}, Non-Pharmacological Therapies {Transcutaneous Electrical Nerve Stimulation, Plasma Exchange and Intravenous Immune Globulin}, Others), by End User (Hospitals and Clinics, Ambulatory Centers, Others), and By Region (North Amer


ID: MRFR/HC/7013-HCR | 111 Pages | Author: Kinjoll Dey| October 2024

Global Peripheral Neuropathy Market Overview


Peripheral Neuropathy Market Size was valued at USD 2.39 billion in 2023 and is projected to grow from USD 2.52 billion in 2024 to USD 7.43 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.01% during the forecast period (2024 - 2032). The increasing prevalence of peripheral neuropathy and the growing prevalence of diabetes are the key market drivers boosting the growth of the peripheral neuropathy market.


Peripheral Neuropathy Market Overview


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Peripheral Neuropathy Market Trends



  • The Increasing Prevalence of Peripheral Neuropathy to Boost the Market Growth


Peripheral neuropathy refers to the many conditions that involve damage to the peripheral nervous system. The rapid growth of the geriatric and obese population across the world highly contributes to the risk of developing peripheral neuropathy. The etiology of peripheral neuropathy includes physical injury (trauma), diabetes, vascular and blood-related problems, or diseases, systemic (body-wide) autoimmune diseases, hormonal imbalance, kidney and liver disorders, certain cancers and benign tumors, chemotherapy drugs, and certain infections.


It is also due to the malfunctioning of nerves ending up in severe damage, which further leads to inappropriate signaling to various parts of the body. Diabetic neuropathy is recorded as a major type of neuropathy. The rising prevalence of diabetes worldwide will lead to an increase in the number of people with peripheral neuropathy. Thus, the increasing prevalence of diabetes across the world is expected to drive the growth of the market during the forecast period.


Peripheral Neuropathy Market Segment Insights


Peripheral Neuropathy Type Insights


The peripheral neuropathy market segmentation, based on type, includes diabetic peripheral neuropathy, chemotherapy-induced peripheral neuropathy, idiopathic peripheral neuropathy, and HIV/AIDS associated peripheral neuropathy. The diabetic peripheral neuropathy type segment held the majority share in 2022 in respect to the peripheral neuropathy market revenue. This is primarily owing to the increasing prevalence of diabetic peripheral neuropathy in youth with diabetes and the increasing number of market players.


September 2021 Biogen Inc. (US) reported positive topline results from its Phase 2 CONVEY study of vixotrigine (BIIB074), a non-opioid investigational oral pain drug being evaluated for the treatment of small fiber neuropathy (SFN). Such positive results in different phases of the clinical studies could lead to the development of the drug in the future


Peripheral Neuropathy Treatment Insights


The peripheral neuropathy market segmentation, based on treatment, includes pharmacological therapies, non-pharmacological therapies, and others. The pharmacological therapies segment dominated the market in 2022 in respect to the peripheral neuropathy market. This is attributed to the primary in the treatment of peripheral neuropathy.


February 2021 Mendel AI (US) a late clinical-stage company and Cairo University (Egypt) initiated phase 2/3 clinical trial study of the potential protective role of venlafaxine versus paclitaxel-induced peripheral neuropathy


Peripheral Neuropathy End User Insights


The peripheral neuropathy market segmentation, based on indication includes hospitals and clinics, ambulatory centers, and others. The hospitals and clinics held the largest market share in 2022 with respect to the peripheral neuropathy market revenue. This is due to the rising incidence of chronic diseases, and it is also the first place for the diagnosis and treatment of patients. The availability of different treatment methods with expertise in the hospital and clinics is projected to drive the growth of this segment during the forecast period.


May 2021 Pure Green Pharmaceuticals Inc. (US) reported that in a Phase II trial, a cannabidiol (CBD) sublingual tablet reduced pain scores in patients with diabetic peripheral neuropathy by approximately 50%


July 2020 Grünenthal (Germany) and its United States subsidiary, Averitas Pharma, Inc. (US) received United States Food and Drug Administration (FDA) approval for QUTENZA (capsaicin) 8% patch for the treatment of neuropathic pain associated with diabetic peripheral neuropathy (DPN) of the feet in adults. It is a topical, non-systemic, non-opioid pain treatment delivered in the form of a patch and is the first and only treatment of its kind to deliver prescription-strength capsaicin directly into the skin


Figure 2  Peripheral Neuropathy Market, by End User, 2023 & 2032 (USD Billion)


Peripheral Neuropathy Market, by End User, 2023 & 2032


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Peripheral Neuropathy Regional Insights


By region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America peripheral neuropathy held the largest market share in 2022. This is attributed to the increasing prevalence of diabetes, health care infrastructure, and an increase in diabetic patients’ awareness of peripheral nephropathy.


Further, the major countries studied are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3 PERIPHERAL NEUROPATHY MARKET SHARE (%) BY REGION 2023


PERIPHERAL NEUROPATHY MARKET SHARE (%) BY REGION 2023


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Peripheral Neuropathy market accounts for the second-largest market share due to the rising peripheral neuropathy treatment options, rising awareness, and increasing number of pipeline products are boosting the market growth. Further, the Germany peripheral neuropathy market held the largest market share, and the UK peripheral neuropathy market was the fastest-growing market in the European region.


The Asia-Pacific Peripheral Neuropathy market is expected to grow at a significant growth rate during the forecast period. This is due to the increased healthcare spending, and the growing number of geriatric populations afflicted with chronic diseases like diabetes and cancer are factors expected to boost the market over the forecast period. Moreover, China peripheral neuropathy market held the largest market share, and the India peripheral neuropathy market was the fastest-growing market in the Asia-Pacific region. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2024–2032.


Peripheral Neuropathy Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the peripheral neuropathy market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the peripheral neuropathy industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment. 


One of the primary business strategies adopted by manufacturers in the peripheral neuropathy industry to benefit clients and expand the peripheral neuropathy market sector is to manufacture locally to reduce operating costs.


Helixmith Co Ltd. (South Korea), discovers and develops DNA, protein-based therapeutics, herbal medicines, and nutraceuticals for treating various ischemic diseases or neurodegenerative disorders. The company developed Engensis (VM202), a plasmid DNA therapy used to express two isoforms of hepatocyte growth factor and treat various neurodegenerative diseases such as diabetic peripheral neuropathy, diabetic foot ulcer, and coronary artery disease. Helixmith also investigated various programs to treat chronic wounds, peripheral arterial diseases, and claudication. The company uses plasmid DNA (pCK) and AAV vector technology to treat neuromuscular and muscle diseases. For instance, in November 2020, Helixmith announced the start of a new trial for patients with diabetic neuropathy. The company was focusing on using gene therapy to treat diabetic peripheral neuropathy.


Key Companies in the Peripheral Neuropathy Market Includes



  • Abbott Laboratories (US)

  • Bristol Myers Squibb (US)

  • Novartis AG (UK)

  • Eli Lilly and Company (US)

  • Pfizer Inc. (US)

  • GlaxoSmithKline plc (UK)

  • Merck and Co. Inc. (US)

  • Cipla Limited (India)

  • Lupin Limited (India)

  • Reddy's Laboratories (India)


Peripheral Neuropathy Industry Developments


In January 2023 Salk Institute (US) in Nature revealed that low levels of amino acid serine increased the risk of developing peripheral neuropathy for diabetic mice. These new findings could be used to explore the use of serine supplementation to alleviate the symptoms of neuropathy symptoms and possibly take us one step closer to developing a possible cure


In January 2023 Neuralace Medical Inc. (US) announced the enrollment of the first patients for its Axon Therapy and Painful Diabetic Neuropathy (AT-PDN) study with a target of around 80 patients. The study was estimated to be conducted at five clinical sites and led by Dr. Lora Brown at TruWell Health, Florida


In August 2022 Yostra Labs (India) announced that it had raised USD 484,16  million in a seed funding round that was led by Villgro Innovations Foundation, Indian Angel Network, and other investors. The company has a specialized portfolio of products for the management and diagnosis of peripheral neuropathy. The company was expected to use the raised capital to expand its workforce and marketing teams


Peripheral Neuropathy Market Segmentation


Peripheral Neuropathy Type Outlook



  • Diabetic Peripheral Neuropathy

  • Chemotherapy-induced Peripheral Neuropathy

  • Idiopathic Peripheral Neuropathy

  • HIV/AIDS Associated Peripheral Neuropathy


Peripheral Neuropathy Treatment Outlook



  • Pharmacological Therapies

    • Pain Relievers

    • Anti-seizure Medications

    • Antidepressants



  • Non-Pharmacological Therapies

    • Transcutaneous Electrical Nerve Stimulation

    • Plasma Exchange

    • Intravenous Immune Globulin



  • Others


Peripheral Neuropathy End User Outlook  



  • Hospitals and Clinics

  • Ambulatory Centers

  • Others


Peripheral Neuropathy Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Peripheral Neuropathy Report Scope
Report Attribute/Metric Details
Market Size 2023 USD 2.39 billion
Market Size 2024 USD 2.52 billion
Market Size 2032 USD 7.43 billion
Compound Annual Growth Rate (CAGR) 9.01% (2024-2032)
Base Year 2023
Forecast Period 2024-2032
Historical Data 2019-2021
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Treatment, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Abbott Laboratories (US), Bristol Myers Squibb (US), Novartis AG (UK), Eli Lilly and Company (US), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Merck and Co. Inc. (US), Cipla Limited (India), Lupin Limited (India), Reddy's Laboratories (India)
Key Market Opportunities Increasing mergers & acquisitions
Key Market Dynamics Increasing prevalence of peripheral neuropathy  Growing prevalence of diabetes


Frequently Asked Questions (FAQ) :

The peripheral neuropathy market is anticipated to reach USD 7.43 Billion at a CAGR of 9.01% during the forecast period of 2024 to 2032

The US peripheral neuropathy Market share is 35-40% during the forecast period of 2024-2032

The Peripheral Neuropathy market is expected to register a CAGR of 9.01% during the forecast period of 2024 - 2032.

North America held the largest market share in the peripheral neuropathy market

Abbott Laboratories (US), Bristol Myers Squibb (US), Novartis AG (UK), Eli Lilly and Company (US), Pfizer Inc. (US)

The pharmacological therapies segment led the peripheral neuropathy market

The Hospital & Clinics end user led the peripheral neuropathy market

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