The Global Diabetic Neuropathy Treatment Market size is expected to reach $7.4 billion by 2031, rising at a market growth of 7.3% CAGR during the forecast period.
The demand for diabetic neuropathy treatment in North America is increasing due to several factors. Increasing diabetes prevalence in the region is among the primary factors. Thus, the North America region captured 39.5% revenue share in the market 2023. With high rates of smoking in Canada, there is a greater prevalence of diabetes and diabetic neuropathy among the population, leading to increased demand for this.
Advancements in treating diabetic neuropathy have made significant progress in recent years, offering patients a broader array of options to manage their condition effectively. One key area of advancement is pharmacological therapies. Novel medications have been developed that target specific pathways involved in nerve damage, such as inflammation and oxidative stress.
Additionally, as per the World Health Organization, the proportion of diabetic people among adults aged 18 years and older was 8.5% in 2014. Diabetes accounted for the direct cause of 1.5 million fatalities in 2019, with 48% of diabetes-related deaths occurring in individuals younger than 70 years of age. Diabetes accounted for an additional 460,000 fatalities due to kidney disease. Thus, the increasing prevalence of diabetes worldwide is a key driver of the market.
However, many people with diabetes may not be aware of the potential complications, including neuropathy, which can result from uncontrolled blood sugar levels over time. Such a lack of awareness may result in postponing the pursuit of medical attention upon the initial appearance of symptoms indicative of neuropathy, including numbness, tingling, or pain in the hands and feet. Hence, the lack of awareness of the disease may allow the adoption of treatments and hamper the market's growth.
The COVID-19 pandemic, conversely, expedited the implementation of digital health solutions and telemedicine. By allowing healthcare providers to resume providing care remotely to patients with diabetic neuropathy, these technologies mitigated the pandemic's effect on treatment access as well as continuity of care. Overall, the impact of COVID-19 on the diabetic neuropathy treatment market was moderate.
The demand for diabetic neuropathy treatment in North America is increasing due to several factors. Increasing diabetes prevalence in the region is among the primary factors. Thus, the North America region captured 39.5% revenue share in the market 2023. With high rates of smoking in Canada, there is a greater prevalence of diabetes and diabetic neuropathy among the population, leading to increased demand for this.
Advancements in treating diabetic neuropathy have made significant progress in recent years, offering patients a broader array of options to manage their condition effectively. One key area of advancement is pharmacological therapies. Novel medications have been developed that target specific pathways involved in nerve damage, such as inflammation and oxidative stress.
Additionally, as per the World Health Organization, the proportion of diabetic people among adults aged 18 years and older was 8.5% in 2014. Diabetes accounted for the direct cause of 1.5 million fatalities in 2019, with 48% of diabetes-related deaths occurring in individuals younger than 70 years of age. Diabetes accounted for an additional 460,000 fatalities due to kidney disease. Thus, the increasing prevalence of diabetes worldwide is a key driver of the market.
However, many people with diabetes may not be aware of the potential complications, including neuropathy, which can result from uncontrolled blood sugar levels over time. Such a lack of awareness may result in postponing the pursuit of medical attention upon the initial appearance of symptoms indicative of neuropathy, including numbness, tingling, or pain in the hands and feet. Hence, the lack of awareness of the disease may allow the adoption of treatments and hamper the market's growth.
The COVID-19 pandemic, conversely, expedited the implementation of digital health solutions and telemedicine. By allowing healthcare providers to resume providing care remotely to patients with diabetic neuropathy, these technologies mitigated the pandemic's effect on treatment access as well as continuity of care. Overall, the impact of COVID-19 on the diabetic neuropathy treatment market was moderate.
By Distribution Channel Analysis
By distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment witnessed 47.8% revenue share in the market in 2023. Hospital pharmacies serve a vital function in furnishing patients with the proper medications prescribed for diabetic neuropathy.
By Drug Class Analysis
On the basis of drug class, the market is classified into capsaicin, opioid, non-steroidal anti-inflammatory drugs (NSAIDs), antidepressants, and others. The antidepressants segment recorded 29.3% revenue share in the market in 2022.By Disorder Analysis
Based on disorder type, the market is characterized into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy. The peripheral neuropathy segment garnered 63.8% revenue share in the market in 2023. There are many different causes of peripheral neuropathy, including diabetes, infections, exposure to toxins, and certain medications.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 26.9% revenue share in the market in 2023. Based on data from the International Diabetes Federation, this region is anticipated to have the highest prevalence of diabetes in 2021, with an estimated 191 million adults aged 20-79 affected.List of Key Companies Profiled
- Abbott Laboratories
- Eli Lilly And Company
- Pfizer, Inc.
- Lupin Limited
- Astellas Pharma, Inc.
- Glenmark Pharmaceuticals Limited
- Boehringer Ingelheim International GmbH
- Novartis AG
- McKesson Corporation
- GlaxoSmithKline PLC (GSK)
Market Report Segmentation
By Distribution Channel- Hospitals Pharmacies
- Retail Pharmacies
- Others
- Non-Steroidal Anti-inflammatory Drugs (NSAIDs)
- Antidepressants
- Opioid
- Capsaicin
- Others
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Diabetic Neuropathy Treatment Market by Distribution Channel
Chapter 5. Global Diabetic Neuropathy Treatment Market by Drug Class
Chapter 6. Global Diabetic Neuropathy Treatment Market by Disorder Type
Chapter 7. Global Diabetic Neuropathy Treatment Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Eli Lilly And Company
- Pfizer, Inc.
- Lupin Limited
- Astellas Pharma, Inc.
- Glenmark Pharmaceuticals Limited
- Boehringer Ingelheim International GmbH
- Novartis AG
- McKesson Corporation
- GlaxoSmithKline PLC (GSK)
Methodology
LOADING...
