Chemotherapy-Induced Peripheral Neuropathy Market Overview

The market for chemotherapy-induced peripheral neuropathy (CIPN) is projected to expand from US$ 813.48 million in 2021 to US$ 1,174.26 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.4% during the period from 2021 to 2028.

Market Trends and Growth Drivers

This report outlines the prevailing trends and the key factors propelling the growth of the CIPN market. The increase in demand for cancer therapies, particularly chemotherapy, especially in earlier stages of cancer, is a significant driver of market expansion. However, the growth is somewhat hindered by a general lack of awareness regarding the symptoms associated with chemotherapy-induced peripheral neuropathy.

Understanding Peripheral Neuropathy

Chemotherapy-induced peripheral neuropathy is characterized by symptoms resulting from damage to peripheral nerves, which are responsible for transmitting sensations and controlling movements in the limbs, as well as regulating bladder and intestinal functions. Chemotherapy and other cancer treatment medications can lead to this condition, which is specifically referred to as chemotherapy-induced peripheral neuropathy.

Healthcare Spending on Cancer Treatments

Expenditure on anticancer medications is a significant contributor to rising healthcare costs. Both chemotherapy and targeted therapies have been shown to enhance survival rates among cancer patients and improve their quality of life. These treatments can even lead to complete tumor remission. Consequently, there has been a global surge in the demand for chemotherapy, driven by the increasing incidence of cancer. A recent study published in Lancet Oncology predicts that the number of patients requiring chemotherapy will rise by 53%, from 980,000 to 15 million worldwide between 2018 and 2040. As advanced cancer treatments continue to improve patient survival rates, the number of individuals needing long-term outpatient chemotherapy is also expected to grow, potentially leading to an increase in cases of CIPN and thus driving market growth.

Market Segmentation

The CIPN market is categorized by drug class into several segments: steroids, anti-seizure medications, narcotics, and anti-depressants. In 2021, the steroids segment dominated the market share. However, the anti-seizure segment is anticipated to exhibit the highest CAGR from 2021 to 2028. Additionally, the market is segmented by distribution channel into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held the largest market share in 2021, while the retail pharmacies segment is expected to show the highest growth rate during the forecast period.

Impact of COVID-19 on the Market

The COVID-19 pandemic significantly affected oncology services globally during 2020-2021, disrupting cancer treatment protocols as many healthcare providers had to delay cancer diagnoses and treatments. Social distancing measures and lockdowns led to the suspension of clinical trials. Furthermore, the increased burden of COVID-19 forced healthcare authorities to reallocate resources, including oncology departments, to manage the influx of patients. For example, data from the Netherlands indicated a notable decline in cancer diagnoses compared to pre-pandemic levels. In the UK, emergency referrals for suspected cancer cases dropped by 76%, and chemotherapy appointments fell by 60% during the pandemic. In France, cancer diagnoses decreased by 35-50% in April 2020 compared to April 2019. Consequently, these disruptions adversely affected the growth of the CIPN market in 2020 due to a reduced number of chemotherapy sessions conducted during this time.

Strategic Developments in the Market

Companies operating in the chemotherapy-induced peripheral neuropathy market are employing various organic and inorganic strategies to enhance their market presence. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These strategies enable market players to expand their operations and strengthen their geographic footprint, contributing to overall market growth. Notable developments in the CIPN market include:

• April 2021: WEX Pharmaceuticals Inc. announced the publication of two clinical trials on tetrodotoxin (TTX) as a therapeutic agent in a special issue of the Toxins Journal. One study focused on the cardiac safety of TTX, while the other examined its efficacy for chemotherapy-induced neuropathic pain.


• December 2020: Regenacy entered a joint venture with 3E Bioventures to develop ricolinostat in China, which will be followed by a phase 2 study in the US for patients with painful diabetic peripheral neuropathy and other peripheral neuropathies. This program will also assess the efficacy and safety of ricolinostat in patients with chemotherapy-induced peripheral neuropathy in China.

Sources of Information

Key primary and secondary sources utilized in the preparation of this report on the chemotherapy-induced peripheral neuropathy market include the World Health Organization (WHO), the Centers for Disease Control (CDC), and the Association of the British Pharmaceutical Industry (ABPI).