Chemotherapy-Induced Peripheral Neuropathy Market Report 2022-2030 – Astute Analytica
Chemotherapy-Induced Peripheral Neuropathy or CIPN symptoms often occur during chemotherapy or months after the treatment of cancer. Moreover, they can persist for a very long time after the treatment and effects a patient's quality of life. CIPN is often associated with other comorbidities and a heavy financial burden. Among other symptoms, CIPN produces tingling, pain, and numbness in the hands and feet. These symptoms can impair balance, make it difficult to dress or type, and increase the risk of falls and hospitalizations. They might also be an excuse to scale back or discontinue chemotherapy. Studies and clinical trials have been conducted to find out more about the signs, causes, pathophysiology, diagnosis, risk factors, and treatments for CIPN.
Various drugs are being discovered to treat people suffering from CIPN, which include Tetrodotoxin (WEX Pharmaceuticals), which is in Phase III clinical trials. Apart from that, there is Ibudilast (MediciNova) in Phase II trials.
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Factors Influencing the Market
The high prevalence of cancer is the major reason driving the demand for CIPN treatment. Nearly 30 & 40% of people going through chemotherapy witness CIPN. During the first month of chemotherapy, around 68.1% of patients suffer from CIPN, and 60% witnessed it at three months.
Chemotherapy antineoplastic drugs are being used to treat cancer cells, but they also have side effects. The rapidly expanding generic population is another major cause for the growth of the Chemotherapy-Induced Peripheral Neuropathy market.
Ongoing studies on the development of effective treatment are another factor driving the scope of the market. For instance, only three of 35 clinical studies have explored medications that can be used to treat CIPN, as estimated by the investigators at the National Cancer Institute.
Apart from that, pathologic mechanism-based therapeutics and symptomatic treatment-based therapeutics are significant contributors to the CIPN market.
Additionally, increasing knowledge among patients will benefit the CIPN industry as patients are becoming aware of the after-effects of chemotherapy. The evolution of treatment and therapies has helped physicians diagnose the early signs of CIPN at an early stage, thereby driving the market forward.
Limitations
The unavailability of effective CIPN medications is the primary factor limiting the industry's growth. The American Society of Clinical Oncology (ASCO) reports that no medicines are adequate enough to benefit in the prevention of CIPN.
Opportunity
The opportunity for the CIPN market will increase with the growing number of cancer patients globally. In the United States, nearly 1,806,590 new cases were identified in 2020. Moreover, chemotherapy medications like vinca alkaloids, platinum compounds, taxanes, etc., often result in CIPN, thereby driving a high need for effective treatments.
Regional Analysis
North America is leading in the market due to the high contribution of the United States chemotherapy-induced peripheral neuropathy market. The chemotherapy-induced peripheral neuropathy market size was US$ 544.15 million in 2021. Meanwhile, the Spain market for chemotherapy-induced peripheral neuropathy market will exhibit the highest CAGR of 5.7%. The high prevalence of cancer in the United States is driving the growth of the market, along with the fact that people are more aware of the after-effects of medications.
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Competition Landscape
Solasia Pharma K.K. is a renowned pharmaceutical company known for its innovative oncology drugs in Japan and other countries in Asia. The firm's main focus is to work on developing and providing high-quality medicines for the treatment of cancer patients.
WEX Pharmaceuticals Inc. is a renowned biopharmaceutical company, which has been present in the CIPN industry for many years. The firm, based in Canada, is known for the development of a class of non-opioid analgesics. The firm's Halneuron is undergoing Phase III clinical development, which will be used to cure cancer-related pain. Apart from that, WEX has been involved in nearly 15 clinical trials with TTX. Till now, the medications offered by the firm have treated more than 700 people to date.
MAKScientific is a well-known industry giant recognized for its endocannabinoid research and drug development. The firm is engaged in the development of a pipeline of orally available small-molecule drugs, which could directly target important intervention points in the endocannabinoid system.
Apexian Pharmaceuticals, a clinical-stage biotechnology company, is known for its work on the APE1/Ref-1 protein. The work of the firm has provided thorough insight into the crucial biological target. APE1/REF-1, since its introduction, has been playing a crucial role in the treatment of inflammatory disorders and tumorigenesis. The firm has been catering to the demands of all sorts of cancer patients, including blood, inflammatory bowel disorders, colon, skin, pancreas, diabetic macular edema, and others.
Egetis Therapeutics is also a renowned medical firm involved in drug development for cancer patients. The firm is involved in late-stage development for treatments of serious diseases and caters to the needs of the patients.
Kannalife, a well-recognized subsidiary of Neuropathix, Inc., is involved in the development and commercialization of non-opioid alternatives to cure patients. The firm has been involved in the research and development of CIPN drugs since 2010 and is known for its main focus on synthetic cannabidiol (“CBD”) therapeutics.
Market Segmentation
By Therapy
Medications
Surgery
Transcutaneous electrical nerve stimulation
Others
By Region
The U.S.
The UK
France
Germany
Spain
Italy
Japan
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