The chemotherapy induced peripheral neuropathy market in North America is expected to grow from US$ 297.89 billion in 2021 to US$ 426.71 billion by 2028. It is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
Cancer causes millions of deaths across the region each year, and although medicine is making great strides, many persistent issues need to be addressed to improve cancer treatment. Therefore, oncology research groups are focused on finding new and efficient treatments that can reduce the key side effects of traditional treatments. In April 2021, WEX Pharmaceuticals Inc., a biotechnology company engaged in developing Halneuron for chronic pain, published two clinical studies on Tetrodotoxin (TTX) as a Therapeutic Agent in a special issue of the Toxins Journal. In March 2020, Senzer Pharmaceuticals secured the Investigational New Drug (IND) application and data package for its ongoing FDA registration program for its former US strategic partner to get approval for its cannabinoid respiratory device for the treatment of the side effects induced by anti-cancer drugs. In February 2020, NoNo Inc., a privately held biotechnology company, reported a novel peptide named nerinetide, without the prior administration of alteplase. This has demonstrated important clinical improvements in patients with acute ischemic stroke in a multicenter, randomized study. Such developments and launches of new products are likely to bring new trends in the chemotherapy-induced peripheral neuropathy market in the coming years.
By offering products and services with new features and technologies, vendors in the North America chemotherapy induced peripheral neuropathy market can attract a larger base of customers and expand their footprints in emerging markets. This factor is likely to drive the market at a substantial CAGR during the forecast period.
North America Chemotherapy Induced Peripheral Neuropathy Market Segmentation
The North America chemotherapy induced peripheral neuropathy market is segmented on the basis of drug class, distribution channel, and country. Based on drug class, the market is segmented into steroids, anti-seizure, narcotics, and antidepressants. In 2021, the steroids segment held the largest share of the market, and anti-seizure is expected to register the highest CAGR during the forecast period. Based on distribution channel, the North America chemotherapy induced peripheral neuropathy market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2021, the hospital pharmacies segment held the largest market share, and the retail pharmacies segment is expected to register the highest CAGR in the market during the forecast period. Based on country, the North America chemotherapy induced peripheral neuropathy market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest market share, and it is expected to record the fastest CAGR during the forecast period.
REGENACY PHARMACEUTICALS, INC.; Asahi Kasei Pharma Corporation; Novaremed AG; MAKScientific, LLC; WEX Pharmaceuticals Inc.; Sova Pharmaceuticals, Inc.; Kineta, Inc.; Aptinyx Inc.; Apexian Pharmaceuticals, Inc.; and WinSanTor, Inc. are among the leading companies in the North America chemotherapy induced peripheral neuropathy market.