USD 5.08 Billion
Report ID:
SQMIG35A2836 |
Region:
Global |
Published Date: April, 2024
Pages:
211
|Tables:
94
|Figures:
73
Diabetic Neuropathy Treatment Market size was valued at USD 5.53 Billion in 2023 and is poised to grow from USD 6.02 Billion in 2024 to USD 11.91 Billion by 2032, growing at a CAGR of 8.9% during the forecast period (2025-2032).
Diabetic nephropathy is a disease that causes nerve damage in people with diabetes. High levels of sugar in the blood of diabetics causes nerve damage called diabetic neuropathy. This damages the nerves, especially in the legs and feet. Additionally, arthritis symptoms vary from pain to nausea depending on the affected nerves including peripheral, autonomic, proximal, and focal neuropathy. Additionally, peripheral neuropathy affects the legs and feet, autonomic neuropathy affects the digestive tract system and especially to abdomen, proximal. Rheumatoid arthritis can cause hip, hip and thigh pain and affected muscles can lead to numbness in the legs and feet, digestive disorders, fluid retention and heartburn.
The increasing prevalence of diabetes across the globe is the major driver for the diabetic neuropathy treatment market. As diabetes worsens, the incidence of diabetic neuropathy also increases, leading to a demand for treatment options. Older people are more likely to develop diabetes and its complications including arthritis. With the aging of the world population, there is an increasing demand for the treatment of diabetic neuropathy, driving the growth of the market. Ongoing R&D efforts have led to advanced treatments for diabetic neuropathy Technological advances such as new drug developments, medical devices, and regenerative medicines are driving the market has been improved to provide effective and efficient treatment solutions. Increased awareness of diabetes and its complications among healthcare providers and patients has led to earlier diagnosis of diabetic nephropathy. Early detection increases the number of patients seeking treatment, thereby boosting the market.
US Diabetic Neuropathy Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.08 Billion
Largest Segment
Peripheral
Fastest Growth
Autonomic
Growth Rate
8.9% CAGR
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In terms of drug class, the market is segmented into non-steroidal anti-inflammatory drugs, opioid, anti-depressants, anti-seizure, and others. Based on the disease, the market is segmented into peripheral, autonomic, proximal, and focal. Based on distribution channels the diabetic neuropathy treatment market is segmented into hospitals, clinics, retail pharmacies, and online pharmacies. Based on region the global diabetic neuropathy treatment market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Diabetic Neuropathy Treatment Market Analysis by Drug Class
Use of non-steroidal segment in the anti-inflammatory drugs across the globe. Increase in prescribing drugs containing non-steroidal anti-inflammatory drugs with high efficacy to treat the disorder driving the market growth high. This in turn encourages manufacturers to develop non-steroidal anti-inflammatory drugs, which is positively impacting the growth of the market non-steroidal anti-inflammatory drugs help in reducing pain, fever, etc. by the increased inflammation required for healing.
The opioid segment is expected to register a slightly higher CAGR during the forecast period, owing to the introduction of new gel formulations, rise in analgesics, among others. Also, antidepressants help reduce pain, problems with insomnia, etc. by increasing neurotransmitters in the brain.
Diabetic Neuropathy Treatment Market Analysis by Disease
The peripheral segment dominated the growth of the market, the high incidence of peripheral neuropathies worldwide. Diabetes mellitus occurs primarily in diabetic neurodegenerative disease populations. According to the National Center for Biotechnology Information, the prevalence of diabetes mellitus in adults is reported to range from 6% to 51% as it depends on a variety of factors including age, type of diabetes, glucose utilization and duration of diabetes.
Autonomic diabetic neuropathy is expected to exhibit the highest CAGR during the forecast period. Increased prevalence of diabetics in metropolitan areas increases the demand for safe and effective risk-free treatments as compared to galloping strategies enhancing market growth. Furthermore, the movement of diabetes higher due to increased adoption of sedentary lifestyles also spreads significant growth s of people with diabetes have been estimated and the number is expected by 2045 to increase to 629 million.
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North America is expected to be the major regional market due to the high, high incidence of diabetes. In addition to this, fast availability of pharmaceuticals, availability of advanced treatments in the industry, and availability of compounded drugs are also driving the growth of the market. According to the National Diabetes Report, it is estimated that the US. 26.9 million people have diabetes. North America holds the largest share in the global diabetic neuropathy treatment market. There is a well-established healthcare system, high healthcare costs, and many patients affected by diabetes and its complications, including arthritis, within the facility.
The market is expected to grow at the highest CAGR due to high prevalence of diabetes, rise in problems associated with obesity and heart failure in Asia-Pacific, increasing use of new advanced medicines, government support for increased health literacy, increased R&D activities, among others. Asia-Pacific accounts for a large portion of the global diabetic population, driven by factors such as urbanization, sedentary lifestyles and dietary changes While prevalence of diabetes in countries such as China, India and Japan, so too is the incidence of diabetic neuropathy, creating a huge market demand for treatment options.
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Diabetic Neuropathy Treatment Market Drivers
Increasing Prevalence of Diabetes Across the Globe
Advances in Personalized Medicine
Diabetic Neuropathy Treatment Market Restraints
High Medical Costs
Strict Regulatory Challenges and Approval Process
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The competitive environment of the Global Diabetic Neuropathy Treatment Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global diabetic neuropathy treatment market is characterized by fierce competition among pharmaceutical companies, medical device manufacturers, and biotechnology companies. Major players in the market keep growing their product lines, expanding the market presence, mergers and acquisitions, collaboration, product differentiation and gain competitive advantage through strategic initiatives.
Diabetic Neuropathy Treatment Market Top Player’s Company Profiles
Diabetic Neuropathy Treatment Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global diabetic neuropathy treatment market is experiencing tremendous growth driven by several key factors. The increasing prevalence of diabetes worldwide, especially in the elderly population, has increased the incidence of diabetic neuropathy, driving the market demand for more effective treatments Technological advances in personalized medicine has enabled more targeted and effective therapies, improved patient outcomes and expanding the market. However, the market faces challenges such as regulatory hurdles and stringent approval processes, which can delay the launch of new therapies and hamper market growth High medical costs also pose barrier types come to be excluded, especially in developing areas where health facilities are limited. Despite these challenges, the competitive environment in the global diabetic neuropathy treatment market remains intense, with leading pharmaceutical companies, medical device manufacturers and biotech companies competing for market share. Mergers and acquisitions, collaboration, product differentiation and other strategic arrangements among specialists lead to product innovation and market competition.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 5.08 Billion |
Market size value in 2031 | USD 10.94 Billion |
Growth Rate | 8.9% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Diabetic Neuropathy Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Diabetic Neuropathy Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Diabetic Neuropathy Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Report ID: SQMIG35A2836
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