Diabetic Neuropathy Market
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
Global Diabetic Neuropathy Market: Snapshot
A handful of international and local manufacturers with limited shares dominate the global diabetic neuropathy market. This makes the competitive landscape semi-consolidated in nature. The competition among them is intense with most spending time and money on research and development of more effective neuropathy drugs.
The global diabetic neuropathy market is being primarily driven by changing lifestyles which has mostly resulted in unhealthy dietary habits and patterns. As per WHO, about 422 were afflicted by diabetes in 2014. Apart from that, other growth drivers in the market are the approval of novel drugs to treat neuropathic pain and supportive reimbursement policies.
Drugs administered to treat neuropathic pain, however, so far have had only limited success in terms of pain relief. This coupled with erroneous diagnosis or selection of treatment and side effects and rising cost of diabetic neuropathy treatment drugs are posing a hindrance to the market for diabetic neuropathy market.
A report by Transparency Market Research, forecasts the global diabetic neuropathy market to become worth US$5.718 bn by 2024 from US$ 3.6 bn in 2016 by rising at a steady CAGR of 5.4% between 2017 and 2025.
Peripheral Neuropathy to Retain its Dominant Share by Clocking Maximum Growth
Peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy are the prominent disorders in the global diabetic neuropathy market. Peripheral neuropathy, of them, accounts for almost half the share in the market at present. In the near future it is predicted to grow its share marginally by surpassing all other segments in terms of growth rate. The report by TMR predicts the segment to clock a 5.7% CAGR from 2017 to 2025 because of the high prevalence of diabetic neuropathy.
Proximal neuropathy follows peripheral neuropathy when it comes to market share in the global diabetic neuropathy market. This is because proximal diabetic neuropathy is the most commonly found disorder in type 2 diabetes. The segment was worth US$885.6 mn in 2016 and will likely rise to US$1.405 mn by 2025 by expanding at a CAGR of 5.4% from 2017 to 2025.
Major Players Target North America Market Having Large Patient Pool
Key regional segments in the global diabetic neuropathy market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America accounted for a market leading share of 34.9% in 2016. This is mainly on account of the large pool of patients who have been diagnosed and the expensiveness of therapy. In fact, keen companies are eyeing the market in U.S. in the region to up sales and revenues. The market in North America was worth US$1.071 bn in 2016 and rising at 5.3% CAGR between 2017 and 2025, it is slated to become worth US$1.68 bn by 2025.
Europe trails North America in the global diabetic neuropathy market in terms of size. Its market has been mostly driven by the rising occurrence of diabetic neuropathy and a growing pool of elderly, particularly in countries of Italy, Germany, France, and the U.K. In terms of growth rate, however, the market is Asia Pacific is predicted to outshine all others. Powered primarily by China, Asia Pacific will likely clock a CAGR of 6.7% on account of the growing number of healthcare awareness programs, hospitals equipped with radiology devices to treat diabetic neuropathy, and a large pool of patients.
Some of the key names operating in the 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.
Diabetic Neuropathy Market will Rise Remarkably Owing to Increasing Number of Diabetic Population
The changing lifestyle and increasing adoption of unhealthy eating habits is prognosticated to attract high revenues for the global diabetic neuropathy market. Medications directed to treat neuropathic torment, nonetheless, so far have had just restricted accomplishment as far as relief from discomfort. This combined with wrong finding or choice of treatment and results and increasing expense of diabetic neuropathy treatment drugs are representing an obstruction to the market for diabetic neuropathy market.
Diabetic patients are without a doubt incredibly helpless against genuine inconveniences, whenever tainted by the COVID-19 infection. The disease can cause inner expanding and furthermore increment aggravation among diabetic patients. It is, along these lines, basic for medical clinics, facilities and careful focuses to guarantee that such complexities are alleviated by giving progressed clinical consideration. Luckily, driving makers in the diabetes area have announced that the COVID-19 isn't affecting their present assembling and appropriation abilities for indispensable infusions like insulin.
Diabetic neuropathy alludes to harm of nerves influencing individuals with diabetes. Various kinds of nerve harm lead to various sorts of side effects. Manifestations may go from deadness and agony in one's feet to issues with the day by day elements of one's inward organs, like bladder and heart. Indications change as per the kind of diabetic neuropathy one has. In diabetes patients, undeniable degree of blood glucose, likewise also called glucose, along with significant degrees of fats in the blood can harm one's nerves with time. Expanded predominance of diabetes is probably going to impel development of the diabetic neuropathy market.
One of the significant variables that are assessed to shape the fate of the worldwide diabetic neuropathy market is the ascent in the number maturing individuals who are inclined to experience the ill effects of the said ailment. Besides, ascend in the innovative work exercises for the advancement of new medications to help treat the problem of diabetic neuropathy is probably going to support development of the market over the time of projection.
Global Diabetic Neuropathy Market: Overview
The report on diabetic neuropathy market analyzes the current and future scenario of the global market. Increase in prevalence of diabetic neuropathy, advent of new therapeutics for treatment of neuropathy, favorable reimbursement scenario, and investment from key players in development of cost effective therapeutics for diabetic neuropathy are the major drivers of the global diabetic neuropathy market.
The diabetic neuropathy market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global diabetic neuropathy market with respect to the segments based on disorder type, treatment type, distribution channel and geography.
A detailed qualitative analysis of drivers and restraints of the market and its opportunities has been provided in the market overview section. In addition, the section comprises Porter’s five forces analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global diabetic neuropathy market.
Global Diabetic Neuropathy Market: Segmentation
Based on disorder type, the diabetic neuropathy market is segmented as peripheral neuropathy, autonomic neuropathy, proximal neuropathy, focal neuropathy. The disorder type market segments have been analyzed based on available approved treatment for disorders and patient data. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Based on treatment type, diabetic neuropathy market is segmented into drugs, radiotherapy and physiotherapy. The drug segment is further segmented into analgesic, antidepressant, anticonvulsant drugs and other drugs. The analgesic segment is further segmented into topical, opioid, NSAIDs. The antidepressant segment is segmented into TCAs, SNRIs, and SSRIs. Radiotherapy segment is segmented into Transcutaneous Electrical Nerve Stimulation (TENS), others.
The market segments have been extensively analyzed based on demand for available treatment, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
Global Diabetic Neuropathy Market: Regional Analysis
Geographically, the global diabetic neuropathy market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, Russia, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC countries and Rest of Middle East & Africa).
The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The research study also covers the competitive scenario in these regions.
Global Diabetic Neuropathy Market: Competitive Analysis
The report also profiles major players in the global diabetic neuropathy market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include – Johnson & Johnson (Janssen Global Services, LLC), Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Eli Lilly and Company, GlaxoSmithKline plc, Pfizer, Inc., Lupin Limited, Astellas Pharma Inc., Glenmark Pharmaceuticals Ltd, Arbor Pharmaceuticals, LLC, Depomed, Inc., and others.
The Global Diabetic Neuropathy Market is segmented as given below:
by Treatment Type
by Distribution Channel