What is the global market size of Diabetic Neuropathy Market?

Global Diabetic Neuropathy Market size was valued at USD 3626.38 million in 2021 and is poised to grow from USD 3876.6 million in 2022 to USD 7067.25 million by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

What is the key driver of Global Diabetic Neuropathy Market?

Rise in prevalence of diabetes to cause a rise in the demand for diabetic neuropathy.

Diabetic Neuropathy Market Size, Share, Growth Analysis, By Disorder Type (Peripheral Neuropathy, Autonomic Neuropathy), By Drug Class (Capsaicin, Opioid), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2245 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 94 | Figures: 76

Diabetic Neuropathy Market Insights

Global Diabetic Neuropathy Market size was valued at USD 3.6 billion in 2022 and is poised to grow from USD 3.85 billion in 2023 to USD 6.56 billion by 2031, growing at a CAGR of 6.9% during the forecast period (2024-2031).

A condition that damages the nerves and is connected to hyperglycemia is diabetic neuropathy. Although diabetic neuropathies' symptoms could not be detected early on, people who have had diabetes for a long period are more likely to experience nerve damage across their bodies. Since diabetic neuropathy cannot be cured, it can be controlled or avoided with the help of a variety of therapeutic approaches. Because of the disease's complexity, regulating agencies are required to authorize additional products and therapy methods that are related to it. Numerous expansion prospects will arise for the businesses operating in this market as a result of the high occurrence of diabetic neuropathy, which affects mainly diabetic individuals.

US Diabetic Neuropathy Market is poised to grow at a sustainable CAGR for the next forecast year.

Diabetic Neuropathy Market Report Snapshots

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Due to the rise in R&D projects, Johnson & Johnson and GlaxoSmithKline plc are the major players outperforming the diabetic neuropathy market. Major market companies are being influenced by this to diversify their product offerings globally. As a result, the important companies' varied product portfolios tend to increase the company's value. For instance, The most significant player in the market is thought to be Pfizer Inc. due to its emphasis on creating goods like Motrin and Lyrica that are expected to fuel growth. 'Abbott Laboratories ', 'Eli Lilly and Company ', 'Pfizer Inc. ', 'F. Hoffmann-La Roche Ltd. ', 'GlaxoSmithKline plc ', 'Lupin Pharmaceuticals, Inc. ', 'Astellas Pharma US, Inc. ', 'Bayer AG ', 'Teva Pharmaceutical Industries Ltd. ', 'NeuroMetrix Inc. ', 'Helixmith Co., Ltd. ', 'Johnson & Johnson Services, Inc. ', 'Daiichi Sankyo Company, Limited ', 'Ionis Pharmaceuticals, Inc. ', 'Akcea Therapeutics, Inc. ', 'Alfasigma USA, Inc. ', 'ExeGi Pharma LLC '

Because of the rising prevalence of diabetes, global demand for diabetic neuropathy would grow at a slower rate during the projection period. Furthermore, obesity, coronary heart disease, diabetic neuropathy, and other sugar-related issues are thought to be some of the factors driving the market's expansion. The market's expansion is also influenced by rising urbanization, which promotes sedentary lifestyles such as carbohydrate consumption and low physical activity.

During the forecast year, high-tech goods will be developed for better diabetic neuropathy therapy. Companies are concentrating on creating transdermal patches, mouthwash, talc, as well as other products. Manufacturers have introduced cutting-edge medication delivery systems, like syringe-free injection equipment, to combat problems related to surgical pharmaceuticals. As a result, NFIT has attracted significant interest in the treatment of the disease, which is helping the market expand. As a result, the market is expanding due to the rising demand for new drug delivery methods such as oral, transdermal, parenteral, and inhalation.

In 2021, the greatest market for diabetic neuropathy is in North America. In order to counteract the degradation of generic pharmaceuticals, pharma companies continue to give fresh medications in the area. Due to a big incidence of chronic diseases such as diabetes, and an increasing senior generation, diabetic neuropathy treatment has become extremely popular, particularly in the United States.

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Diabetic Neuropathy Market Size, Share, Growth Analysis, By Disorder Type (Peripheral Neuropathy, Autonomic Neuropathy), By Drug Class (Capsaicin, Opioid), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies), By Region - Industry Forecast 2024-2031

Diabetic Neuropathy Market Insights

Diabetic Neuropathy Market Report Snapshots

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What is the global market size of Diabetic Neuropathy Market?

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