Diabetic Neuropathy Market

SKU: DMMD258 | Last Updated On: Jul 28 2022 | Available Formats

Diabetic Neuropathy Market Expected to reach a high CAGR of 8.9% By 2029: DataM Intelligence

Diabetic Neuropathy Market is segmented By Type (Peripheral Neuropathy, Non-Pharmacological Treatment), By Treatment Type (Pharmacological Treatment, Non-Pharmacological Treatment), By Distribution Channel (Hospitals, Clinics, Retail Pharmacy, Online Pharmacy), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029

Diabetic Neuropathy Market Drivers Growth Opportunities Outlook 2022

Diabetic Neuropathy Market is expected to grow at a CAGR of 8.9% during the forecasting period (2022-2029). Several factors driving the global market growth are raising awareness between people regarding diabetes and linked complications, and increasing the population suffering from diabetes. An increase in the number of partnerships and collaborations, fast new product launches, and a rising number of mergers and acquisitions are the major latest trends witnessed in the global Diabetic Neuropathy Market. Diabetic neuropathy is the nerve damage that occurs due to complications with diabetes mellitus. Common symptoms of diabetic neuropathy include foot pain, numbness, weakness, and problems with the urinary tract.

Report Key Highlights:

  • Diabetic Neuropathy (DN) refers to nerve fiber damage caused by diabetes. It is a common yet serious complication of diabetes.
  • Between 60% to 70% of people with diabetes develop some form of neuropathy. The highest rates of neuropathy are among people who have had the disease for over 25 years.
  • Diabetic neuropathy imposes a significant burden on the healthcare systems of developed economies
  • North America Diabetic Neuropathy Market has the biggest market for diabetic neuropathy next to the Europe region
  • Asia Pacific Diabetic Neuropathy Market is projected to register for the largest share in the global market during the forecast period 2022-2029
  • Out of the total people with diabetes across the globe, more than 60% live in Asia, with almost one-half in China and India combined.
  • The report profiles the following companies in the market  Pfizer, Eli Lilly, Lupin Limited, Glenmark Pharmaceuticals, Astellas Pharma, and so on.

Increasing global cases of diabetes will be the major driver for the global diabetic neuropathy market:

The International Diabetes Foundation (IDF) estimates that 537 million people globally will have diabetes in 2021, with the global caseload projected to rise to 643 million by 2030. Obesity, poor dietary habits, sedentary lifestyle, and family history are some major causes of diabetes. People with diabetes are at a major risk of developing various complications such as kidney failure, cardiovascular diseases, blindness, and diabetic neuropathy.     

The high cost of new treatment options is expected to restrain the global diabetic neuropathy market:

Over the forecast period, the high cost of new treatment options is expected to prevent the growth of the global diabetic neuropathy market. Long lead times for research and development and a complex regulatory approval process lasting years lead companies to price new treatments at high levels to recoup the capital expenditure. The high costs prevent the wider adoption of the treatments and act as a restrain for the growth of the global diabetic neuropathy market.   

New advanced drug delivery systems are expected to generate new opportunities for the global diabetic neuropathy market:

The global prevalence of diabetes has led to many lessons for diabetes management. Innovation in new medical technologies has led to the development of new drug delivery systems for fast-acting targeted action. Needle-free injection technology is being adopted to deliver insulin and other drugs for diabetes treatment.

Lack of specialized equipment and trained personnel are expected to present challenges for the global diabetic neuropathy market:

Despite the global prevalence of diabetes and its complications, most developing and underdeveloped regions lack specialized equipment and trained personnel to offer good quality diabetes treatment. It prevents diabetes patients from accessing the required care and is expected to become a major challenge for the global diabetic neuropathy market during the forecast period.  

Several Factors hindering the growth of the global diabetic neuropathy market

The rise in the expensive cost of the drugs used for diabetic neuropathy treatment, the growing obtainability of alternate therapies. For example, the obtainability of several other treatments such as physiotherapy and radiotherapy are measured more relevant and it may result in more positive clinical results for the patients is also hampering the Diabetic Neuropathy Market growth. Moreover, the strict rules and regulations, adjournment in FDA approvals, and other major factors will also hinder the growth of the global diabetic neuropathy industry.

COVID-19 Impact Analysis

The COVID-19 pandemic had an uneven impact on the global diabetic neuropathy market. Lockdowns and other pandemic restrictions disrupted research and development activities of new drug treatments. The COVID-19 pandemic strained healthcare systems globally, causing hospitals and clinics to prioritize only serious cases and depriving most patients of affordable treatment. Despite these challenges, the global diabetic neuropathy market is expected to generate significant growth in the coming years.

Diabetic Neuropathy Market Scope

Metrics

Details

Market CAGR

8.9%

Segments Covered

By Treatment Type, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Segmentation:

The scope of the report covers segmentation based on type, treatment type, distribution channel, and region. The global diabetic neuropathy market is segmented by type into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy. The global diabetic neuropathy market is segmented by treatment type into pharmacological treatment and non-pharmacological treatment. By distribution channel, the global diabetic neuropathy market is segmented into hospitals, clinics, retail pharmacies, and online pharmacies. The global diabetic neuropathy market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle East, and Africa.

  1. Pharmacological Treatment: It refers to the use of drugs and medications to treat patients with diabetic neuropathy. Duloxetine, gabapentin, and pregabalin are the three most commonly used drugs for the treatment of diabetic neuropathy. Many companies are currently developing more effective medications for diabetic neuropathy treatment.
  2. Non-Pharmacological Treatment: It refers to treatment options for diabetic neuropathy that do not involve using drugs or medications. Some common non-pharmacological treatments include surgical intervention, physiotherapy, exercise, cognitive behavioral therapy, and electrical stimulation.

Regional Classification:

According to the DataM Intelligence market research report, the global diabetic neuropathy market is divided into North America, South America, Europe, Asia-Pacific, Middle East, and Africa.

North America Diabetic Neuropathy Market has the biggest market for diabetic neuropathy, this is owing to the increasing number of diabetes patients, growth in research and development initiatives, rising consciousness among people regarding diabetic-related problems, and enhanced healthcare sectors in the North American region. North America has the highest regional caseload of diabetes, with the center for disease control (CDC) estimating that more than 37.3 million people in the U.S. will be living with diabetes in 2022. Mexico and Canada have similarly high caseloads. However, Asia-Pacific is expected to have the largest share of the global diabetic neuropathy market over the forecast period. Relentless economic growth and rising incomes have to profound changes for people in Asia-Pacific. Poor dietary habits and sedentary lifestyles have become much more common.

The Asia Pacific is projected to knowledge a high growth rate in next coming decades, this is owing to increasing research and development initiatives in drug improvements. Furthermore increasing financial and demography in emerging countries such as China, India, and Japan are projected to control growth in the diabetic neuropathy market in the Asia Pacific region.

Furthermore, many ethnicities in Asia-Pacific have a genetic predisposition for developing diabetes. The World Diabetes Foundation estimated that more than 296 million people would be living with diabetes in Asia-Pacific in 2021. It is further estimated that diabetes cases in Asia-Pacific are expected to reach nearly 411 million by 2030.

Competitive Analysis:

The global diabetic neuropathy market is moderately competitive and includes many major pharmaceutical companies. The major players adopt several growth strategies such as launching new drug treatments, collaborations, and joint ventures, thereby contributing to the growth of the global diabetic neuropathy market.

Major Companies:

Some key companies contributing to the global diabetic neuropathy market growth include Astellas Pharma Inc., Boehringer Ingelheim GmbH, Eli Lilly, Endo Health Solutions, Glenmark Pharmaceuticals, Grünenthal, Johnson and Johnson, NeuroMetrix, Inc., Novartis AG, and Pfizer Inc., among others.

Recent Developments in the Industry:

  1. In June 2022, researchers published a study that indicated that antidepressants such as Venlafaxine and Nortriptyline were found to be effective in relieving pain in patients with diabetic neuropathy.
  2. In April 2022, a study published in PLOS indicated that type 2 diabetes patients with diabetic neuropathy had reduced masticatory (chewing) efficiency.
  3. In November 2021, researchers published a study indicating that high concentration capsaicin patches offered better outcomes for managing pain in patients with peripheral diabetic neuropathy

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