Diabetic Neuropathy Treatment Market Analysis, Overview, Research & Forecast 2027
According to MRFR analysis, the global diabetic
neuropathy treatment market is expected to register a CAGR of 5.1% during
the forecast period and was valued at USD 5.80 Billion.
Diabetic neuropathy is one of the most common complications
of diabetes. Patients suffering from diabetic neuropathy often report burning
pain in foot. The rising prevalence of diabetic neuropathy can be seen
worldwide. Around 83% people in the US are suffering from diabetic neuropathy.
According to Japanese study around 298 people were diagnosed with diabetic
neuropathy in 2017. The growth of the global diabetic neuropathy treatment
market is driven by various factors such as an increasing global geriatric
population, rising prevalence of diabetes, and poor fitness levels. However,
high costs of surgery are expected to curb the growth of the global diabetic
neuropathy treatment market.
The global diabetic neuropathy treatment market is currently
dominated by several market players. The key players are involved in product
launches and strategic collaborations to strengthen their market positions.
Regional Analysis
The market has been divided, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. The Americas is
expected to be the largest market owing to the increasing prevalence of
diabetic neuropathy and rising per capita healthcare expenditure. The diabetic
neuropathy treatment market in the Americas has further been branched into
North America and Latin America, with the North American market divided into
the US and Canada. The European diabetic neuropathy treatment market has been
categorized as Western Europe and Eastern Europe. The Western European market
has further been classified as Germany, France, the UK, Italy, Spain, and the
rest of Western Europe. The diabetic neuropathy treatment market in
Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of
diabetic neuropathy and raising awareness about the treatment methods, the
market in Asia-Pacific is expected to be the fastest-growing. The diabetic
neuropathy treatment market in the Middle East & Africa has been divided
into the Middle East and Africa.
Segmentation
The global diabetic neuropathy treatment market has been
segmented based on disorder, treatment, and end user.
The market, based on disorder, has been divided into
peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy.
The peripheral neuropathy segment is likely to be the largest during the review
period due to a growing aging population and increasing prevalence of
peripheral neuropathy globally. Around 1.3 million Americans are diagnosed with
peripheral neuropathy every year. The autonomic neuropathy segment is predicted
to be the fastest-growing due to the rising prevalence of the disorder in the
elderly population.
By diabetic
peripheral neuropathy treatment , its divided into drugs, transcutaneous
electrical nerve stimulation (TENS), and others. The drugs segment is expected
to hold the majority share of the market. The drugs help increase muscle
strength and quicken the recovery process. The transcutaneous electrical nerve
stimulation segment is expected to be the fastest-growing due to the increasing
use of this treatment for diabetic neuropathy. The cost of the treatment is
also less as compared to other treatment types.
The end user segments of the market are hospitals and
clinics, retail pharmacy, online pharmacy, and others. The hospitals and
clinics segment is expected to hold the largest share of the market as these
centers are the primary locations for patients receiving treatment and surgery.
Key Players
Some of the key players in the global diabetic neuropathy
treatment market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd
(Switzerland), Eli Lilly and Company (US), Johnson & Johnson (US),
GlaxoSmithKline Plc (UK), Lupin Limited (India), Glenmark Pharmaceuticals
Limited (India), Depomed, Inc (US), Astellas Pharma Inc (Japan), Pfizer Inc
(US), MEDA Pharma GmBH & Co. KG (Germany).
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