Diabetic Neuropathy Market Size
The Global Diabetic Neuropathy Market reached USD 3,775.4 million in 2022 and is projected to witness lucrative growth by reaching up to USD 6,298.1 million by 2031. The diabetic neuropathy market is expected to exhibit a CAGR of 6.7% during the forecast period (2024-2031).
Diabetic neuropathy can be autonomic neuropathy, proximal neuropathy, focal neuropathy, and peripheral neuropathy. The growing market developments and increasing cases of diabetes among other factors are driving the global diabetic neuropathy market.
The global diabetic neuropathy market growth is also driven by the growing cases of diabetes, increasing awareness about diabetes, increased research and development in pain treatments, and market developments.
Market Summary
| Metrics | Details |
| CAGR | 6.7% |
| Size Available for Years | 2022−2031 |
| Forecast Period | 2024−2031 |
| Data Availability | Value (USD) |
| Segments Covered | Type, Drug Class, Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis key Insights. |
For more Insights Request free Sample
Market Dynamics
Growing Cases of Diabetes is Driving the Global Diabetic Neuropathy Market Growth
The rising number of diabetes patients is driving the global diabetic neuropathy market growth. For instance, according to the International Diabetes Federation Report 2021, there were roughly 537 million adults (20-79 years) with diabetes, and the entire number of individuals with diabetes was estimated to rise to about 643 million by 2030 and around 783 million by 2045.
About 3 out of four adults living with diabetes are from low- and middle-income nations. Also, nearly 1 out of two adult individuals are undiagnosed totaling the number to be over 240 million. More than 6.7 million individuals died because of diabetes in 2021 and diabetes rendered a minimum of USD 966 billion in health expenditure about 9% of total spending on adults.
Over 1.2 million children and adolescents are living with type 1 diabetes and one out of six live births accounting for about 21 million are impacted by diabetes during gestation, while roughly 541 million adults are at raised risk of developing type 2 diabetes.
Presence of Stringent Regulatory Policies Hampers the Global Diabetic Neuropathy Market Growth
The presence of stringent regulatory authority bodies approving the usage and commercialization of drugs or biologics employed in the treatment of the diabetic neuropathy market is hampering the global diabetic neuropathy market growth during the forecast period.
For instance, the European Medicines Agency (EMA), an agency of the European Union is in command of the evaluation and surveillance of pharmaceutical developments, and the US Food and Drug Administration (USFDA), a nationwide agency of the Department of Health and Human Services are prominent regulatory authoritative bodies among others.
Market Segmentation Analysis
The global diabetic neuropathy market is segmented based on type, drug class, distribution channel, and region.
The Peripheral Diabetic Neuropathy Type Segment is Expected to Hold a Dominant Position in the Market over the Forecast Period
Owing to the increasing research activities and market developments, peripheral diabetic neuropathy segment is estimated to hold a large share of the global diabetic neuropathy market accounting for around 45.2%.
For instance, Loma Linda University Health, research study indicated that the Intraneural Facilitation (INF) treatment effectively restores blood flow to harmed nerves, reducing pain induced by diabetic peripheral neuropathy (DPN). Moreover, in January 2023, Abbott, an American global medical devices and healthcare corporation, received the U.S. Food and Drug Administration (FDA) approval for its Proclaim XR spinal cord stimulation (SCS) system for the treatment of painful diabetic peripheral neuropathy (DPN).
Market Geographical Share
North America Holds the Largest Share of the Global Diabetic Neuropathy Market Market
North America is estimated to dominate the global diabetic neuropathy market holding around 39.9% of the global market. For instance, diabetes is rising at an alarming pace in the United States.
According to the CDC’s National Diabetes Statistics Report for 2022, patients with diabetes have increased to an assessed 37.3 million. An anticipated 28.7 million individuals or 28.5% of the population had detected diabetes. Roughly 8.5 million individuals have diabetes but have not yet been diagnosed (2022).
Major Global Players
The major global players in the market include Depomed pharma, Eli Lilly, Daiichi Sankyo, Teva Pharmaceutical Industries Ltd., Xenoport, Grünenthal, Johnson and Johnson, Pfizer, GlaxoSmithKline and Boehringer Ingelheim among others.
Russia-Ukraine War Impact Analysis
The issues that are currently being encountered by individuals with chronic conditions in Ukraine are increased by a deficiency of medical support such as medications for chronic disorders at a time when fundamental requirements like electricity, heating, and clean water are not being attended, to because of the invasion. Thus, Russia Ukraine war has negatively impacted global diabetic neuropathy market
Global Recession Impact Analysis
The healthcare industry is not completely invulnerable to a recession, as healthcare organizations supposed layoffs and hirings in past financial downturns. That remarked the enterprise does manage better compared to different sectors. Yet, the threat of recession risks the market as inflation succeeds. The extended degree of stress concerning the ongoing recession as the high inflation in developed countries worldwide has transpired in an all-around price ripple through the past years.
Artificial Intelligence Impact Analysis
AI is anticipated to hold a positive influence on the global diabetic neuropathy market as with AI's capacity to process big data pools, combining patient experiences can direct to predictive benefits, enabling the healthcare ecosystem to expose key dimensions of patient care that need revision.
Key Developments
- In March 2022, Daiichi Sankyo Company Limited, an innovative multinational healthcare company, obtained authorization in Japan to revise the indication of the analgesic “Tarlige Tablets” (mirogabalin besilate) from “peripheral neuropathic pain” to “neuropathic pain.”
- In July 2022, Teva Pharmaceutical Industries Ltd., a privately held clinical-stage biopharmaceutical firm, and NeuroFront Therapeutics (Hong Kong) Limited, a biotech corporation, formed an exclusive alliance and commercialization contract for Novaremed’s innovative non-opioid investigational drug, NRD.E1, being designed for the therapy of diabetes-associated neuropathic pain and other neuropathic pain indications.
Why Purchase the Report?
- To visualize the global diabetic neuropathy market segmentation based on type, drug class, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of diabetic neuropathy market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global diabetic neuropathy market report would provide approximately 53 tables, 54 figures, and 195 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
