Diabetes has become more common around the world over the years. This deadly disease afflicted nearly one-tenth of the global population as of 2019. Diabetes prevalence is being driven by the adoption of sedentary lifestyles and a decline in the consumption of a balanced diet. As a result, the number of people seeking treatment has grown. To address this issue, several pharmaceutical companies are investing in anti-diabetic drugs.
Novel drugs such as Nucynta ER and Lyrica are expected to be a major growth driver for the global diabetic neuropathy market. Furthermore, rising insurance coverage for neuropathic pain drug companies will boost market prospects. The global diabetic neuropathy market is expected to grow at a 5.6% CAGR during the forecast period.
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Competitive Landscape
The global diabetic neuropathy market is highly concentrated. Arbor Pharmaceuticals, LLC, Pfizer, Inc., Janssen Global Services, LLC, NeuroMatrix, Inc., Depomed, Inc., and Eli Lilly are the market leaders. Because of the increased demand for diabetic treatment, these companies are primarily focused on developing new drugs within their pipeline.
Janssen Global Services, LLC, a subsidiary of Johnson & Johnson, produces diabetic neuropathy medications such as NUCYNTA, NUCYNTA ER, Duragesic, and INVOKANA. These medications contain the blood sugar-regulating drugs canagliflozin and tapentadol. Pfizer, Inc. also manufactures Lyrica EH, Celebrex, Lyrica IH, and Tafamidis Meglumine.
Glenmark Pharmaceuticals Ltd., another market leader, manufactures remoglifozin etabonate, a gliflozin class drug used to treat type 2 diabetes. Furthermore, the company has successfully out-licensed seven novel molecules to leading pharmaceutical conglomerates such as Merck KGaA, and it is the only company to have executed multiple deals on novel molecules. One example is the development of remoglifozin, which evolved from the SGLT2 inhibitor.
Global Diabetic Neuropathy Market Segmentation
Fact.MR has studied the global diabetic neuropathy market with detailed segmentation on the basis of disorder, treatment, distribution channel and region.
- Disorder
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
- Treatment
- Drugs
- Analgesic
- Topical:
- Capsaicin
- Others
- Opioid:
- Morphine
- Others
- NSAIDs:
- Ibuprofen
- Naproxen
- Others
- Antidepressants:
- TCAs:
- Amitriptyline
- Imipramine
- Others
- SNRIs:
- Duloxetine
- Others
- SSRIs:
- Citalopram
- Paroxetine
- Others
- Anticonvulsant Drugs:
- Gabapentin
- Pregabalin
- Topiramate
- Others
- Other Drugs
- Radiotherapy:
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Others
- Physiotherapy
- Distribution Channel
- Hospitals
- Clinics
- Retail Pharmacy
- Online Pharmacy
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Findings from the Global Diabetic Neuropathy Market Research
· Treatment for peripheral neuropathy is expected to grow, accounting for more than half of the global diabetic neuropathy market. The segment's growth is expected to be driven by current limitations in diabetic neuropathy treatment and patient underdiagnosis. The current treatment is primarily focused on pain management rather than nerve regeneration.
· Diabetic neuropathy formulations will have a significant impact on proximal neuropathy. This is due to an increasing patient population with type 2 diabetes. According to projections, nearly a quarter of the global diabetic neuropathy market share will grow at a CAGR of 5.6% during the forecast period.
· Drugs, a highly preferred treatment method, are expected to expand 1.4X and account for more than four-fifths of total revenue by 2025. This is due to increased consumption of antidepressants and analgesics. Analgesics, particularly opioids, are gaining popularity as an effective painkiller.
· Online pharmacies are expected to grow in popularity as a result of increased digital sales and a thriving e-commerce industry. Several governments support the concept of e-pharmacy because it is cost and delivery convenient for patients. During the forecast period, the segment is expected to grow 1.3x.
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Read More Insights: https://www.factmr.com/report/4698/diabetic-neuropathy-market
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