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Global Diabetic Neuropathy Market: Players Focus on Drug Development to Bolster Positions, finds TMR
Other popular strategies leveraged by the keen leading players in the global diabetic neuropathy market are acquisitions. Novartis AG, for instance, acquired Australia-based Spinifex Pharmaceuticals, Inc., to grow its portfolio of neuropathic pain treatments.
View Report @ http://www.transparencymarketresearch.com/diabetic-neuropathy-market.html
Some of the prominent names operating in the global diabetic neuropathy market are Pfizer, Inc., Johnson & Johnson, Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Astellas Pharma Inc., Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Depomed, Inc., Glenmark Pharmaceuticals Ltd, and Arbor Pharmaceuticals, LLC. Pfizer, Inc., among them, leads the market due to its massive outreach and substantial spends in research and development in therapeutic areas.
As per a report by Transparency Market Research, the global diabetic neuropathy market will likely expand at a 5.4% CAGR between 2017 and 2025 to reach a value of US$5.718 bn by 2024 from US$ 3.6 bn in 2016.
Expensiveness of Therapy Propels North America Market to Dominant Position
Depending upon the type of disorder, the global diabetic neuropathy market can be segmented into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy. Among them, peripheral neuropathy accounts for maximum market share. Surpassing other segments by clocking a 5.7% CAGR from 2017 to 2025, the peripheral neuropathy is expected to hold on to its dominant position in the foreseeable future too on the back of high prevalence of diabetic neuropathy.
Based on geography, the key segments of the global diabetic neuropathy market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, of them, holds a leading share of 34.9% in the market mainly on account of the substantial number of diagnosed patients and the steep cost of therapy in the market. As a result most companies of diabetic neuropathy products are targeting the North America market.
Lifestyle Changes Trigger Market Growth
The most obvious driver of the global diabetic neuropathy market is the rising instances of diabetes caused by changing lifestyles and unhealthy dietary habits and patterns. As per WHO, about 422 were afflicted by diabetes in 2014. Other factors catalyzing growth in the market are the nod to novel drugs by FDA and other regulatory bodies and helpful reimbursement policies. “The FDA approved Nucynta ER for treating neuropathic pain caused by diabetes in 2015. Further, opioid drugs, namely morphine and methadone have also been approved to treat severe pain,” informs the lead analyst of the TMR report.
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Limited Effect of Drugs Crimps Growth
Acting as a hindrance to the global diabetic neuropathy market, on the other hand, is the limited effect of therapies. Explains the lead analyst of the TMR report, “Only a quarter of patients given drugs for neuropathic pain have seen pain relief. In addition, inadequate diagnosis and incorrect understanding or selection of treatment options also serve to decrease the success of neuropathic pain treatment.” Side effects and rising cost of diabetic neuropathy treatment drugs are also serving to restrain the market.
This review is based on the findings of a TMR report, titled, “Diabetic Neuropathy Market (Disorder Type - Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy, and Focal Neuropathy; Treatment Type - Drugs (Analgesic (Topical, Opioid, and NSAIDs), Antidepressants (TCAs, SNRIs, and SSRIs), and Anticonvulsant Drugs (Gabapentin, Pregabalin, and Topiramate), Radiotherapy (Transcutaneous Electrical Nerve Stimulation (TENS)), and Physiotherapy; Distribution Channel - Hospitals, Clinics, Retail Pharmacy, and Online Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
Global Diabetic Neuropathy Market, by Product
Peripheral Neuropathy
Autonomic Neuropathy
Proximal Neuropathy
Focal Neuropathy
Global Diabetic Neuropathy Market, by Treatment Type
Drug
Analgesic
Topical
Capsaicin
Others
Opioids
Morphine
Others
NSAIDs
Ibuprofen
Naproxen
Others
Antidepressant
TCAs
Amitriptyline
Imipramine
Others
SNRIs
Duloxetine
Others
SSRIs
Citalopram
Paroxetin
Others
Anticonvulsants
Gabapentin
Pregabalin
Topimarate
Others
Other Drugs
Radiotherapy
TENS
Others
Physiotherapy
Global Diabetic Neuropathy Market, by Distribution Channel
Hospitals
Clinics
Retail Pharmacy
Online Pharmacy
Global Diabetic Neuropathy Market, by Geography
North America
US
Canada
Europe
Germany
U.K.
Russia
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
India
China
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC countries
South Africa
Rest of Middle East & Africa
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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