What Driving Diabetic Neuropathy Market? Top Key Players: Pfizer, Eli Lilly and Company, Johnson & Johnson Services, Akorn, Incorporated, Abbott, GlaxoSmithKline, F. Hoffmann-La Roche, LUPIN, Glenmark Pharmaceuticals Limited, Assertio Therapeutics, and As

The increasing cases of diabetes across the globe is projected to propel the global diabetic neuropathy market during 2019-2026. Fortune Business Insights, in a report, titled "Diabetic Neuropathy Market Size, Share and Global Trend By Type (Peripheral, Proximal, Autonomic, Focal), By Drug Class (Non-steroidal Anti-inflammatory Drugs, Antisiezure Drugs, Opioid Drugs, Anti-depressants), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), And Geography Forecast Till 2026," states that various factors such as urbanization, change in the genetic compositions, and increasing sedentary lifestyle have increased the incidence of cardiovascular diseases and cases of obesity. These factors are likely to boost the global diabetic neuropathy market during the forecast period.

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The National Institute of Neurological Disorders and Stroke recently supplied funds for research and development activities on neuropathy. Similarly, numerous non-profit organizations are taking initiatives to control diabetes in developing countries. Fortune Business Insights predicts that this factor is likely to boost the global diabetic neuropathy market by the end of 2026. But, diabetic neuropathy drugs are costly and this is one of the major factors that is anticipated to hamper the growth of global diabetic neuropathy market. Also, the lack of complete treatment of neuropathy and side effects of the drugs are likely to pose as obstacles for the growth of the global diabetic neuropathy market.

The report classifies the global diabetic neuropathy market on various bases, namely by drug class, by type, by geography, and by distribution channel. In terms of drug class, the market is further segmented into non-steroidal anti-inflammatory drugs, opioid drugs, anti-depressants, antisiezure drugs, and others. The non-steroidal anti-inflammatory drugs was leading the global diabetic neuropathy market back in 2018. However, due to new administration techniques and a rise in the number of approvals for opioid medicines, the opioid drug segment is projected to gain higher CAGR during the forecast period.

Development of New Treatment Options is Likely to Enable North America to Dominate

Geographically, the global diabetic neuropathy market is divided into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. Amongst these regions, in 2018, North America held the largest share in the global diabetic neuropathy market. This is mainly because of the increasing investment in research and development initiatives for the development of new treatment options and an increasing number of diabetes cases. Asia Pacific is projected to trail the North America market, but exhibit a higher CAGR by the end of 2026. This is because of the rise in the awareness towards treatment and diagnosis of neuropathy, combined with an increasing number of cases of diabetes and other similar disorders.

Prominent Companies Are Launching Products to Strengthen their Position in the Market

Endexx Corporation, a provider of phytonutrient-based nutritional products, announced the company's investment in EcoHealth Neuropathy, Inc., a healthcare organization based in Arizona, in September 2018. The investment took place for launching clinical and technology propelled management of neuropathies like diabetic neuropathy. FDA approved LYRICA CR (pregabalin) extended-release tablets CV in October 2017, for the management of postherpetic neuralgia and for the once-daily therapy of neuropathic pain associated with diabetic peripheral neuropathy. Even before that, Daiichi Sankyo Company, Limited, a global pharmaceutical company, announced the Phase 3 administration of pain treatment of mirogabalin with the code of DS-5565 in February 2015. Its sole purpose was to manage diabetic peripheral neuropathic pain.

Some of the major companies that are present in the global diabetic neuropathy market are Pfizer Inc., Eli Lilly and Company, Johnson & Johnson Services, Inc., Akorn, Incorporated, Abbott, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, LUPIN, Glenmark Pharmaceuticals Limited, Assertio Therapeutics, Inc. and Astellas Pharma Inc., and other players.

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Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative lutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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