Fact.MR – A Market Research and Competitive Intelligence Provider: Sales of diabetic neuropathy are projected to increase at 5.6% CAGR through 2022 & beyond, opines Fact.MR.
Over 50% of Diabetic Neuropathy Sales to be Contributed by Peripheral Neuropathy Segment
Fact.MR provides significant dynamics that are set to influence the global diabetic neuropathy market over the forecast period during 2020 to 2025. It presents detailed information across leading segments in terms of disorder, treatment, distribution channel and region. In addition, it highlights an in-depth assessment of the supply chain and value chain of the market.
Fact.MR – A Market Research and Competitive Intelligence Provider: Sales of diabetic neuropathy are projected to increase at 5.6% CAGR through 2022 & beyond, opines Fact.MR. Adoption of imbalanced diets and changing lifestyles of people are anticipated to surge the diabetic neuropathy market over the forthcoming years.
Diabetic neuropathy is a type of nerve damage that often occurs in people suffering from diabetes. Nerves are damaged mainly because of the high level of blood glucose and fats in the body. Some of the most common symptoms include issues with controlling the heart rate and bladder.
As per Fact.MR, several key players are investing in the development of anti-diabetic formulations in the upcoming years. Hence, rapid approval of state-of-the-art drugs for the treatment of diabetic neuropathy is likely to boost the market.
In July 2019, for instance, the U.S. FDA approved the first generics of Lyrica (pregabalin) for multiple applications. It can be used for managing fibromyalgia, neuropathic pain associated with diabetic peripheral neuropathy, and postherpetic neuralgia.
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Against this backdrop, the global diabetic neuropathy market is expected to witness healthy growth over the forecast period.
“Increasing research & development activities by key players are likely to result in the introduction of combination drugs. These drugs are set to provide symptomatic pain relief, while slowing down the progression of the neuropathic process. This is expected to bode well for the market,” says a Fact.MR analyst.
Key Takeaways:
- Based on disorder, the proximal neuropathy segment is projected to capture nearly 1/4th of the global market share through the upcoming years.
- In terms of region, North America is poised to grow 1.4x by 2025 owing to the increasing government investments in new drug research activities across the U.S.
- Asia Pacific is anticipated to capture around 1/5th share of the global market on the back of favorable government policies supporting novel treatment options across India and China.
- By distribution channel, the hospitals segment is expected to dominate the global diabetic neuropathy market.
Growth Drivers:
- Increasing research activities associated with the natural history of hereditary neuropathies and genetics is set to drive the market.
- Rising development of new drugs within the pipeline of various key players is anticipated to propel the market for diabetic neuropathy.
Restraints:
- Availability of numerous alternative treatment options, such as physiotherapy and radiotherapy may hamper the growth in this market.
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Competitive Landscape
The global diabetic neuropathy is expected to be highly consolidated, estimates Fact.MR. Key players are focusing on developing novel drugs owing to the high unmet diabetic treatment needs.
Meanwhile, a few other players are engaging in mergers and acquisitions and joint ventures to strengthen their positions. In addition, they are teaming up with prominent companies to launch innovative treatment services.
For instance,
- December 2021: P&G Health, a pharmaceutical company headquartered in India, joined hands with Hindustan Times, an English-language daily newspaper to launch ‘Ask your Doctor.’ This virtual event aims to educate the masses about diabetic neuropathy and its management.
- November 2021: The Manipal Academy of Higher Education, a Karnataka-based multidisciplinary private university developed the laser shoe technology. It will be used to treat diabetic peripheral neuropathic pain. The Indian Government’s Department of Science and Technology signed a grant to accelerate the development of this technology.
- November 2021: Nevro Corp., a renowned medical device company based in the U.S., announced three clinical data publications. These highlight the usage of 10 kHz therapy for treating Painful Diabetic Neuropathy (PDN). These also showcase the benefits of HFX for PDN real-world and clinical settings.
Key Players in the Diabetic Neuropathy Market Include:
- Arbor Pharmaceuticals, LLC
- Pfizer, Inc.
- Janssen Global Services, LLC
- NeuroMatrix, Inc.
- Depomed, Inc.
- Eli Lilly
- Glenmark Pharmaceuticals Ltd.
- Merck KGaA
- Abbott
- Astellas Pharma U.S., Inc.
More Valuable Insights on Diabetic Neuropathy Market
Fact.MR provides an unbiased analysis of the diabetic neuropathy market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2025. The study divulges compelling insights on the global diabetic neuropathy market with a detailed segmentation on the basis of:
Disorder
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
Treatment
- Drugs
- Analgesic
- Topical:
- Capsaicin
- Others
- Opioid:
- Morphine
- Others
- NSAIDs:
- Ibuprofen
- Naproxen
- Others
- Antidepressants:
- TCAs:
- Amitriptyline
- Imipramine
- Others
- SNRIs:
- Duloxetine
- Others
- SSRIs:
- Citalopram
- Paroxetine
- Others
- Anticonvulsant Drugs:
- Gabapentin
- Pregabalin
- Topiramate
- Others
- Other Drugs
- Radiotherapy:
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Others
- Physiotherapy
Distribution Channel
- Hospitals
- Clinics
- Retail Pharmacy
- Online Pharmacy
Radiotherapy
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Others
- Physiotherapy
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Questions Covered in Diabetic Neuropathy Market Report
- The report offers insight into the diabetic neuropathy market demand outlook for 2020-2025.
- The market study also highlights projected sales growth for diabetic neuropathy market between 2020 and 2025.
- Diabetic neuropathy market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Diabetic neuropathy market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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