[181 Pages Report] The Diabetic Neuropathy Market size was estimated at USD 3.50 billion in 2023 and expected to reach USD 3.72 billion in 2024, at a CAGR 6.37% to reach USD 5.40 billion by 2030.
Diabetic neuropathy is a medical condition that damages the nerve and occurs in patients who have diabetes. High blood sugar (glucose) can damage nerves throughout the body, and diabetic neuropathy most frequently impacts nerves in the legs and feet. The increasing need for effective treatment for diabetic neuropathy, diagnosis of diabetes, and several government initiatives are the major driving factors for the growth of the diabetic neuropathy market. In addition, the growing awareness about diabetic neuropathy, increased healthcare spending, and a rise in pharmaceutical R&D spending contribute to developing novel drugs and systems for treating diabetic neuropathy. However, the high cost of medications used to treat diabetic neuropathy and the availability of alternative therapies may limit their use by diabetic patients. Production of advanced drug delivery systems and rising research in diabetic neuropathy are leading to the development of a breakthrough system for the effective management of diabetic neuropathy conditions, accelerating their use by patients in the forecast period.
Treatment Type: Wide use of drugs for pharmacological treatment in diabetic neuropathy for alleviating pain and stabilizing nerve function
Drugs are used in the pharmacological treatment of diabetic neuropathy for alleviating pain and stabilizing nerve function. Pregabalin (Lyrica) and gabapentin (Neurontin) are popular anticonvulsant drugs for managing nerve pain in diabetic neuropathy patients. Among opioids, Tramadol (Ultram) is a centrally-acting opioid analgesic prescribed for moderate to severe pain associated with diabetic neuropathy. Physiotherapy, also known as physical therapy, is a non-pharmacological treatment that can help diabetic neuropathy patients improve their functional abilities and alleviate pain. Regular exercise and strengthening programs supervised by a certified physiotherapist can help improve muscle strength, balance, and endurance in diabetic neuropathy patients. Physiotherapy is often preferred to avoid side effects or contraindications.
Disorder Type: Preference for diabetic neuropathy due to increasing prevalence of peripheral neuropathy
Autonomic neuropathy affects the autonomic nervous system, which controls the involuntary functions of internal organs. Patients with this condition experience irregular heartbeat, urinary problems, digestive issues, and sexual dysfunction. Based on individual needs, treatments include medications to regulate blood pressure and heart rate, drugs for gastrointestinal motility, and medications to treat erectile dysfunction. Focal neuropathy is a disorder that affects a single nerve or group of nerves, causing severe pain or weakness localized in specific body parts such as hands, feet, or torso. The treatment addresses the underlying cause, such as compression or entrapment, including splinting or bracing for carpal tunnel syndrome or surgical intervention for severe cases. Peripheral neuropathy is the most common type, affecting the nerves of arms, hands, legs, and feet. Symptoms include numbness, tingling, pain, and weakness. Treatment preferences depend on individual needs, including over-the-counter pain relievers and prescription medications. Proximal neuropathy primarily affects the hip, buttock, or thigh muscles with symptoms such as severe pain and muscle weakness.
Distribution channel: Emergence of online pharmacies as a convenient distribution channel for medications prescribed for diabetic neuropathy management
Patients with diabetic neuropathy prefer clinics for convenience, affordability, and accessibility as they provide specialized care through a team of experts, including endocrinologists, podiatrists, and diabetes educators. Hospitals serve as comprehensive care providers for diabetic neuropathy patients requiring more extensive treatment or emergency interventions due to severe complications such as infections or ulcers. They offer access to equipment and multidisciplinary teams with expertise in treating complex cases. Online pharmacies have emerged as a convenient distribution channel for medications prescribed for diabetic neuropathy management, such as pain relievers, anti-seizure medications, and antidepressants. Patients prefer online pharmacies due to their ease of use, discreet delivery options, and competitive pricing compared to retail pharmacies. Retail pharmacies are popular for obtaining medications and over-the-counter supplements to manage diabetic neuropathy. They offer the advantage of face-to-face interaction with pharmacists who can provide personalized advice, medication management support, and access to a wide range of products.
Regional Insights
The Americas has a significant market in diabetic neuropathy due to the presence of a rising number of diabetic patients and increasing awareness related to diabetes disorders. Approvals from the FDA for new product development and ongoing research activities for developing novel and effective drugs are major growth factors in the Americas region. The Asia-Pacific region represents a growing landscape for the global diabetic neuropathy market due to increasing R&D activities in drug development. Several start-ups focusing on developing diabetic neuropathy treatments in the APAC region have contributed to the market growth. Government support to raise awareness regarding diabetes management and increased research and development of novel drugs and systems for relieving pain and efficient management of diabetic neuropathy conditions are creating the immense potential for the deployment of diabetic neuropathy drugs and systems in the EMEA region. Additionally, the introduction of innovative treatments and drug delivery systems is expected to contribute to the growth of the diabetic neuropathy market worldwide.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Diabetic Neuropathy Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Diabetic Neuropathy Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Diabetic Neuropathy Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AdventHealth, Alkem Labs, Astellas Pharma Inc., AstraZeneca PLC, Bauerfeind AG, Bayer AG, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, Collegium Pharmaceutical, Inc., Daiichi Sankyo Company, Limited, Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Glenmark Pharmaceuticals Limited, Gr?nenthal GmbH, Harmonium Pharma s.r.l., Lupin Limited, Medtronic PLC, Merck KGaA, NeuroMetrix, Inc., Nevro Corp., Novartis AG, Novo Nordisk A/S, Pfizer Inc., Praetego, LLC, Regenacy Pharmaceuticals, Inc., Sanofi S.A., Stem Cell Care India, Teva Pharmaceutical Industries Ltd., The Procter & Gamble Company, Trevena, Inc., Vertex Pharmaceuticals Incorporated, Viatris Inc., and Winsantor, Inc..
Market Segmentation & Coverage
This research report categorizes the Diabetic Neuropathy Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Treatment Type
- Drugs
- Analgesics
- Non-Steroidal Anti-Inflammatory Drugs
- Opioids
- Topical
- Anticonvulsants
- Gabapentin
- Pregabalin
- Topiramate
- Antidepressant
- Serotonin & Norepinephrine Reuptake Inhibitors
- SSRIs
- TCAs
- Analgesics
- Physiotherapy
- Drugs
- Disorder Type
- Autonomic Neuropathy
- Focal Neuropathy
- Peripheral Neuropathy
- Proximal Neuropathy
- Distribution channel
- Clinics
- Hospitals
- Online Pharmacy
- Retail Pharmacy
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Diabetic Neuropathy Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Diabetic Neuropathy Market?
- What are the technology trends and regulatory frameworks in the Diabetic Neuropathy Market?
- What is the market share of the leading vendors in the Diabetic Neuropathy Market?
- Which modes and strategic moves are suitable for entering the Diabetic Neuropathy Market?
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