Diabetic neuropathy is a kind of damage to the nerve due to diabetes. This is caused due to the high sugar levels in the body. Some of the symptoms of diabetic neuropathy include pain and numbness in the feet and many others. It may also lead to digestion and bladder control problems in severe cases. The global diabetic neuropathy market is estimated to grow at a CAGR of around 6% during the forecast period. The primary factor that drives the growth of the market includes the rising prevalence of diabetes. 

According to the International Diabetes Federation in 2017, more than 400 million peoples were suffering from diabetes and the count is projected to increase up to more than 600 million by 2045 across the globe. The rising prevalence of the disease is estimated to create a scope for market growth during the forecast period. Along with this, the government supportive initiative is also encouraging market growth. Various government organizations such as the International Diabetes Federation and the National Institute of Neurological Disorders, among others are proactively working on the development of the drugs and medications for the treatment of diabetes as well as diabetes neuropathy disorders.

Segmental Outlook

The global diabetic neuropathy market is segmented on the basis of treatment type and disorder type. Based on the treatment type, the market is segmented into medications, radiotherapy, physiotherapy, and others. Whereas, based on the disorder type, the market is segmented into autonomic neuropathy, peripheral neuropathy, proximal neuropathy, and focal neuropathy. 

Global Diabetic Neuropathy Market by Treatment Type, 2018 (%)

Medications Segment to Hold Significant Share in the Market

Amongst the treatment type, the medications segment is projected to hold a significant share in the global market. The segmental growth of the market is accredited to the availability of a wide variety of medications for the treatment of diabetic neuropathy. The rising number of diabetes cases across the globe and the rising FDA approvals for the drugs are some of the key aspects which enhance the segmental growth of the global diabetic neuropathy market during the forecast period.

Apart from these, the campaigns and awareness programs hosted by the government and private organizations regarding creating consciousness about the peripheral neuropathy amongst the peoples is also encouraging the growth of the market during the forecast period. In addition, there are only four drugs approved for the treatment of peripheral neuropathy, which include Cymbalta, Nucynta, Lyrica, and Qutenza.

Regional Outlook

The global diabetic neuropathy market is geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America is expected to hold a significant share in the global market during the forecast period. This is attributed to the increased prevalence of diseases among the peoples due to sedentary lifestyles. In addition,the presence of the improved healthcare infrastructure in the region further gives a boost to the regional growth of the market. Additionally, the companies in the region are mainly offering drugs for the treatment of peripheral neuropathy. There are only four drugs approved for the treatment, which are provided by the companies based in the region including Pfizer Inc., Johnson & Johnson, Eli Lilly & Co. among others. 

Moreover, the US has the highest healthcare spending across the globe, that is, per capita healthcare expenditure per person in 2017 was around $10,739. Thus, which is again anticipated to propel the growth of the market during the forecast period. Further, Asia-Pacific is expected to witness significant growth in the market owing to rising government support for the development of the drug for the treatment especially in countries such as China and India. 

Global Diabetic Neuropathy Market, by Region 2018 (%)

Market Players Outlook

The prominent players operating in the global diabetic neuropathy market include Abbott Laboratories, GlaxoSmithKline Plc, Lupin Ltd., BionessInc., and many others. These companies are adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global diabetic neuropathy market. For instance, in January 2019, BionessInc., launched the first and only Patient Registry for peripheral nerve stimulation (PNS) using its StimRouter Neuromodulation System. The launch of the StimRouter Registry demonstrates Bioness' commitment to collecting long-term, robust clinical data that helps educate clinicians to further understand how the StimRouter, a non-opioid, minimally invasive, permanent pain management technology, can be applied across the human body.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global diabetic neuropathy market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.