Diabetic Neuropathy Market 2018 Analysis by Growth, Major Manufacturers, Competitive Strategies and Forecast to 2026 | Eli Lilly and Company, GlaxoSmithKline, Pfizer, Johnson & Johnson and Janssen Pharmaceuticals

The research report Diabetic Neuropathy Market Analysis 2020 provides an estimate of the market size from 2020 to 2026 in terms of value and volume. It also includes a full assessment of key market segments and Diabetic Neuropathy Market shares with the latest Trends and technologies used in the energy industry, as well as an instructive overview of the vendor landscape and geographic expansion of the market. The research study examines the Diabetic Neuropathy Market based on a number of criteria such as Product Type, Application and geographic extent. The market shares of these segments are formulated in such a way that they offer readers of the Diabetic Neuropathy Market an opportunistic Roadmap.

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Market Overview

Diabetic Neuropathy is the damage caused to the nerve due to diabetes which often leads to pain and numbness in feet or lower legs. The pain can be experienced in other parts of the body such as hips, wrist and back depending upon the effect of neuropathy. There are different types of neuropathy such as focal neuropathy, proximal neuropathy, peripheral neuropathy and autonomic neuropathy. An estimated 50% of diabetic population suffers from diabetic neuropathy across the globe. Further, as per CDC estimates, 6-7 people per 1000 diabetic population suffer from diabetic neuropathy in the U.S. Rise in aging population coupled with rise in prevalence of diabetes, the patient pool for diabetic neuropathy will increase significantly, in turn fueling growth of the diabetic neuropathy market.

New drugs to treat neuropathy pain will alter the current market dynamics

The diabetic neuropathy market has been under continuous evolution from the past 5 years. There are generic drugs and specialty drugs including antidepressants and antispasmodics, as well to treat pain associated with the disorder. However, in 2011, there were an estimated 79 novel drugs in the clinical trial phase with Horizant (Gabapentin Enacarbil extended release) being one of the most effective drug. The pharmaceutical companies will continue the required geographic expansion and release novel drugs across major countries in different regions. Further, the growing awareness about diabetic neuropathy, increased healthcare spending and increase in pharmaceutical R&D spending will be important factors for growth in the diabetic neuropathy market.

Asia Pacific region will be the next frontier of growth in the global diabetic neuropathy market

North America is the largest market for diabetic neuropathy, with an estimated 35 million affected by the disease in U.S and Canada. The pharmaceutical companies continue to introduce novel drugs in the region in order to offset the generic drug erosion. Diabetic neuropathy treatment has gained immense traction especially in U.S. due to large patient pool, high incidence of diabetes and growing geriatric population. However, the strict regulatory scenario for drug approval in U.S. and Canada has been a challenge for the diabetic neuropathy market. Other factors such as significant rate of failure during clinical trials and long drug approval time continue to restrain the growth in industry.

Asia Pacific region is fastest growing region with countries such as India and China showing lucrative growth. India has one of the highest rates of diabetes type 2 in the world and according to an independent research, by year 2030, an estimated 80 million people will be affected with diabetes type 2 in India. Additionally, the study concluded that the prevalence rate for diabetic neuropathy was 29% in the entire patient population. China has edged India and has a diabetes patient population of 110 million which is projected to reach 150 million by 2040, as per data published by WHO. Major pharmaceutical companies are now venturing into Asia pacific region and the market is poised to witness substantial growth in the region due to large patient population, less stringent regulatory scenario, increasing R&D investment, growth in clinical trials conducted and government funding for the disease treatment.

The introduction of new players will change the existing market dynamics as they continue to compete with existing key players

The key players in the diabetic neuropathy market are Eli Lilly and Company, GlaxoSmithKline, Pfizer, Johnson & Johnson and Janssen Pharmaceuticals. Due to the high cost associated with the development of novel drugs and long regulatory approval time, the major players in the diabetic neuropathy industry acquire small players possessing unique drugs. The market is consolidated in nature with major pharmaceutical players accounting for major market share. As majority of current breed of drugs undergo patent expiration, the generic drugs will enter the market and the key competitors would have to introduce innovative products into the market to stay competitive.

Key Developments

Major players in the market are focused on various business strategies such collaboration and agreement, in order to gain the competitive edge in the market. For instance, in November 2018, NeuroMetrix, Inc., a health technology company, entered into a distribution agreement with Fukuda Denshi Co. Ltd. for DPNCheck. It is NeuroMetrix’s point-of-care test for diabetic peripheral neuropathy and the agreement will provide Fukuda exclusive distribution rights in Japan through March 2021.

Key players in the market are involved in various growth strategies such as gaining product approvals from regulatory authorities, in order to expand product portfolio and enhance the market presence. For instance, in October 2017, Pfizer, Inc. received the U.S. Food and Drugs Administration (FDA) approval for LYRICA CR extended release tables, which would be used once-a daily. These tablets are indicated for neuropathic pain related to diabetic peripheral neuropathy.

Key players in the market are involved in various growth strategies such as product launches, in order to expand product portfolio and gain competitive edge in the global market. For instance, in April 2019, Daiichi-Sankyo, Limited, a Japanese pharmaceutical company, launched ‘Tarlige’ tablets 2.5 mg, 5 mg, and 10 mg. These tables are indicated for patients with diabetic peripheral neuropathy.

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Table of Contents

Introduction: The report starts off with an executive summary, including top highlights of the research study on the Diabetic Neuropathy industry.

Market Segmentation: This section provides detailed analysis of type and application segments of the Diabetic Neuropathy industry and shows the progress of each segment with the help of easy-to-understand statistics and graphical presentations.

Regional Analysis: All major regions and countries are covered in the report on the Diabetic Neuropathy industry.

Market Dynamics: The report offers deep insights into the dynamics of the Diabetic Neuropathy industry, including challenges, restraints, trends, opportunities, and drivers.

Competition: Here, the report provides company profiling of leading players competing in the Diabetic Neuropathy industry.

Forecasts: This section is filled with global and regional forecasts, CAGR and size estimations for the Diabetic Neuropathy industry and its segments, and production, revenue, consumption, sales, and other forecasts.

Recommendations: The authors of the report have provided practical suggestions and reliable recommendations to help players to achieve a position of strength in the Diabetic Neuropathy industry.

Research Methodology: The report provides clear information on the research approach, tools, and methodology and data sources used for the research study on the Diabetic Neuropathy industry.

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