Constant Advances in Understanding of the Underlying pathogenesis Drives Diabetic Neuropathy Market
The diabetic neuropathy market has witnessed growth from relentless efforts of various healthcare proponents in expanding the array of various therapies and first line drugs in treating the underlying pain. Players have been able to meet the patient needs because of expanding understanding of physiopathology that promote neuropathic pain in diabetes. Most first line drug therapies notably focus on mitigating toxic effects of hyperglycemia. Several players in the diabetic neuropathy market have been benefitting from the introduction of guidelines that help develop therapies that can optimize pain.
The competitive landscape of the diabetic neuropathy market is characterized by fair degree of fragmentation. A handful of players hold sizable shares in the market. Top names in the diabetic neuropathy market are Janssen Pharmaceuticals, Eli Lilly and Company, Cephalon, NeuroMertrix, and Johnson and Johnson. One of the key strategies they increasingly adopt to consolidate their shares is mergers and acquisitions.
During 2017 – 2025, the global diabetic neuropathy market is expected to clock a CAGR of 5.4%. By the end of this period, the worth of the global market is anticipated to be US$5.718 bn.
Prevalence and Complexity Of Diabetic Peripheral Neuropathy Represents Unmet Need
Of the various disorder types, diabetic peripheral neuropathy has attracted the attention of pharmaceutical and biotech companies. By 2025-end, the segment is expected to account for a major share in the global diabetic neuropathy market. The complexity of the type has attracted vast attention of the healthcare industries around the world. The marked prevalence of diabetic peripheral neuropathy adds to its disabling nature. The higher mortality and morbidity of distal symmetrical polyneuropathy is also propelling investments in this area in the global diabetic neuropathy market.
In developed nations, the prevalence of diabetes is increasing at rapid pace. According to recently disclosed statistics by International Diabetes Federation, by 2045 629 million people will be living with diabetes, and currently account for more than 12% of the total spending by adult populations. One of the most complication is diabetic neuropathy. Hence, the condition has attracted groundswell of interest in these nations, such as in the U.S. and the U.K. Further, in recent years, a fast emerging category that is attracting attention of companies in the diabetic neuropathy market is treatment-induced neuropathy in diabetes. Constant advances in understanding of the underlying pathogenesis of diabetic peripheral neuropathy over the last decade have expanded the prospects of the diabetic neuropathy market.
Asia Pacific Fast Emerging as Key Diabetic Neuropathy Market
In the light of developed markets, North America and Europe have emerged as prominent regional markets. A shared factor underpinning the evolution of both these markets are expanding interest in pathophysiological mechanisms. On the other hand, Asia Pacific is emerging as a vastly lucrative region in the global diabetic neuropathy market. This is attributed to the substantial clinical developments in understanding diabetic complications.
Expanding Pharmacological Classes of Drugs Provides New Revenue Base
Lifesciences companies in the global diabetic neuropathy market find it worthwhile and necessary to develop therapies that can target multiple metabolic pathways. Key of these are hyperglycemia, toxic adiposity, mitochondrial dysfunction, and polyol pathway. Promising candidates to emerge in recent years are accumulation of advanced glycation end products (AGEs). Growing research on improving the clinical efficacy of antidepressants and anticonvulsants will likely expand the outlook of the global diabetic neuropathy market. Of note, developed as developed markets are seeing expanding research in pharmacological classes of drugs. The development of these drugs is fueled by the adoption of multimodal and multidisciplinary approaches. Further, growing focus on developing second or third line treatment is also unlocking new potential in the diabetic neuropathy market.
The information shared in this review is based on 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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