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CIPN Market: 5.4% CAGR for Chemotherapy-Induced Peripheral Neuropathy Market Worth $1.17 Billion, Globally, by 2028: The Insight Partners

·9 min read
The Insight Partners
The Insight Partners

The chemotherapy induced peripheral neuropathy market size is projected to reach $1,174.26 million by 2028 from $813.48 million in 2021; it is expected to register a CAGR of 5.4% from 2021 to 2028.

New York, May 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Chemotherapy-Induced Peripheral Neuropathy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Class (Steroids, Antidepressants, Anti-Seizure, and Narcotics) and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy)”, the global chemotherapy-induced peripheral neuropathy market growth is driven by the technological advancements in treatment and diagnosis, and increasing demand for cost-efficient therapeutics, the increasing prevalence of cancer and increasing preference for chemotherapy, the growing clinical trials for chemotherapeutic drugs. However, adverse effects related to the treatment may hinder the market growth.


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Report Coverage

Details

Market Size Value in

US$ 813.48 Million in 2021

Market Size Value by

US$ 1,174.26 Million by 2028

Growth rate

CAGR of 5.4% from 2021 to 2028

Forecast Period

2021-2028

Base Year

2021

No. of Pages

151

No. Tables

57

No. of Charts & Figures

74

Historical data available

Yes

Segments covered

Drug Class, and Distribution Channel

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Chemotherapy-Induced Peripheral Neuropathy Market: Competitive Landscape and Key Developments
REGENACY PHARMACEUTICALS, INC.; Asahi Kasei Pharma Corporation; Novaremed AG; MAKScientific, LLC; WEX Pharmaceuticals Inc.; Sova Pharmaceuticals, Inc.; Kineta, Inc.; Aptinyx Inc.; Apexian Pharmaceuticals, Inc.are among the leading companies in the chemotherapy-induced peripheral neuropathy market. The market is anticipated to flourish with the development of new innovative products by market players.


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In April 2021, WEX Pharmaceuticals Inc. announced that two clinical trials on tetrodotoxin (TTX) as a therapeutic agent had been published in a special issue of the Toxins Journal. The cardiac safety study "Safety, Tolerability, Pharmacokinetics, and Concentration-QTc Analysis of Tetrodotoxin: A Randomized, Dose Escalation Study in Healthy Adults" was included in the special edition of the Toxins Journal, as was the study "Tetrodotoxin for Chemotherapy-Induced Neuropathic Pain: A Randomized, Double-Blind, Placebo-Controlled, Parallel-Dose Finding WEX.”

In December 2020, Regenacy announced a joint venture with 3E Bioventures for the development of ricolinostat in China, which will be followed by a US-based phase 2 study in patients with painful diabetic peripheral neuropathy and other peripheral neuropathies. BC Regenacy’s lead program will evaluate the efficacy and safety of ricolinostat in patients with chemotherapy-induced peripheral neuropathy in China.

In March 2020, Regenacy Pharmaceuticals announced the closing of a US$ 30 million Series A financing. The initiative was co-led by Cobro Ventures and Taiwania Capital Management Corporation, with the participation of 3E Bioventures Capital, Yonjin Capital, VIVA Biotech Holdings, and TA YA VENTURE HOLDINGS LIMITED, and other undisclosed private investors.


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North America is the largest market for chemotherapy-induced peripheral neuropathy, with the US holding the largest share of the regional market, followed by Canada and Mexico. The market for chemotherapy-induced peripheral neuropathy in the US is expected to grow rapidly with technological advancements, and rising research and development activities. The number of cancer survivors living in the US continues to increase each year as a result of the growth and aging of the population. Radical changes in early-detection practices and treatment advancements are also resulting in increased survival rates among cancer patients.

According to data provided by the Centers for Disease Control and Prevention (CDC), in the US, 1,708,921 new cancer cases were reported in 2018 and 599,265 people died of cancer. For every 100,000 people, 436 new cancer cases were reported and 149 people died of cancer. 2018 is the latest year for which incidence data are available. According to the National Institutes of Health, there were 16.9 million cancer survivors in the US, as of January 2019, which represents ~5.0% of the population. As per the data published by International Agency for Research on Cancer (IARC), 22,81,658 new cancer cases were reported in 2020 in the United States, wherein breast cancer was the major type, which accounted for 11.1% of all reported cases. Thus, increase in the prevalence of cancer, coupled with the rising use of chemotherapy for the treatment of this disease, is fueling the growth of the chemotherapy induced peripheral neuropathy market.

Increasing Prevalence of Cancer Fueling 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.


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  1. 1.          World’s Most Prevalent Forms of Cancer, 2020

Cancer

Case Count (Million)

Lung Cancer

2.21

Breast Cancer

2.26

Colorectal Cancer

1.93

Prostate Cancer

1.41

Skin Cancer 

1.20

Stomach Cancer

1.09

Source: World Health Organization and The Insight Partners Analysis


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.


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Chemotherapy-Induced Peripheral Neuropathy Market: Segmental Overview

Drug Class-Based Insights:
Based on drug class, the chemotherapy-induced peripheral neuropathy market is segmented into steroids, anti-seizure, narcotics, and anti-depressants. In 2021, the steroids segment held the largest share of the market. However, the anti-seizure segment is expected to register the highest CAGR from 2021 to 2028.

Distribution Channel-Based Insights:
Based on distribution channel, the chemotherapy-induced peripheral neuropathy market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held the largest share of the market in 2021. However, the retail pharmacies segment is anticipated to register the highest CAGR during the forecast period.





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