Diabetic Neuropathy Market

Diabetic Neuropathy Market to Rake in Nearly US$5.718 bn by 2024
The global diabetic neuropathy market is semi-consolidated in which the prominent players hold
limited share. The competition among the existing global and local manufacturers of diabetic
neuropathy drugs is robust with most focused on research and development of better neuropathy
drugs sans the complications and infections associated with their use. Boehringer, for example, has
collaborated with Eli Lilly to develop new drugs to help overcome the complications caused by
diabetes. Other popular strategies leveraged by the keen leading players in the global diabetic
neuropathy market are acquisitions. Novartis AG, for instance, acquired Australia-based Spinifex
Pharmaceuticals, Inc., to grow its portfolio of neuropathic pain treatments.
Some of the prominent names operating in the global diabetic neuropathy market are Pfizer, Inc.,
Johnson & Johnson, Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Astellas Pharma Inc., Eli
Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Depomed, Inc., Glenmark
Pharmaceuticals Ltd, and Arbor Pharmaceuticals, LLC. Pfizer, Inc., among them, leads the market
due to its massive outreach and substantial spends in research and development in therapeutic areas.
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As per a report by Transparency Market Research, the global diabetic neuropathy market will likely
expand at a 5.4% CAGR between 2017 and 2025 to reach a value of US$5.718 bn by 2024 from
US$ 3.6 bn in 2016. Depending upon the type of disorder, the global diabetic neuropathy market
can be segmented into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and
focal neuropathy. Among them, peripheral neuropathy accounts for maximum market share.
Surpassing other segments by clocking a 5.7% CAGR from 2017 to 2025, the peripheral neuropathy
is expected to hold on to its dominant position in the foreseeable future too on the back of high
prevalence of diabetic neuropathy.
Based on geography, the key segments of the global diabetic neuropathy market are North America,
Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, of them, holds
a leading share of 34.9% in the market mainly on account of the substantial number of diagnosed
patients and the steep cost of therapy in the market. As a result most companies of diabetic
neuropathy products are targeting the North America market.
Lifestyle Changes Trigger Market Growth : The most obvious driver of the global diabetic
neuropathy market is the rising instances of diabetes caused by changing lifestyles and unhealthy
dietary habits and patterns. As per WHO, about 422 were afflicted by diabetes in 2014. Other
factors catalyzing growth in the market are the nod to novel drugs by FDA and other regulatory
bodies and helpful reimbursement policies. “The FDA approved Nucynta ER for treating
neuropathic pain caused by diabetes in 2015. Further, opioid drugs, namely morphine and
methadone have also been approved to treat severe pain,” informs the lead analyst of the TMR
report.
Limited Effect of Drugs Crimps Growth : Acting as a hindrance to the global diabetic neuropathy
market, on the other hand, is the limited effect of therapies. Explains the lead analyst of the TMR
report, “Only a quarter of patients given drugs for neuropathic pain have seen pain relief. In
addition, inadequate diagnosis and incorrect understanding or selection of treatment options also
serve to decrease the success of neuropathic pain treatment.” Side effects and rising cost of diabetic
neuropathy treatment drugs are also serving to restrain the market.
This review is based on the findings of a TMR report, titled, “Diabetic Neuropathy Market
(Disorder Type - Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy, and Focal
Neuropathy; Treatment Type - Drugs (Analgesic (Topical, Opioid, and NSAIDs), Antidepressants
(TCAs, SNRIs, and SSRIs), and Anticonvulsant Drugs (Gabapentin, Pregabalin, and Topiramate),
Radiotherapy (Transcutaneous Electrical Nerve Stimulation (TENS)), and Physiotherapy;
Distribution Channel - Hospitals, Clinics, Retail Pharmacy, and Online Pharmacy) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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