Industry Background:
An estimated 50% of the diabetic population suffers from diabetic neuropathy across the globe. Further, as per the Center For Disease Control estimates, 6-7 people per 1000 diabetic population suffer from diabetic neuropathy in the United States. Increase in prevalence of diabetes due to the sedentary lifestyle, the rise in obese population due to improper diet, and growth in awareness regarding diagnosis & treatment of diabetes. These factors are propelling the growth of the market. Diabetic neuropathy is a nerve-damaging disorder which is associated with diabetes mellitus. Patients who suffer from diabetes since a long time are more prone to nerve damages throughout the body, as the symptoms of diabetic neuropathies cannot be diagnosed at an earlier stage. Although there is no cure for diabetic neuropathy, it can be suppressed or prevented using various treatment modalities.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Pfizer Inc. (United States), Janssen Pharmaceuticals, Inc. (Belgium), Eli Lilly and Company (India), Teva Pharmaceutical Industries (United States), Cephalon, Inc. (United States), MEDA Pharma GmbH & Co. KG (Germany), GlaxoSmithKline plc. (United Kingdom) and NeuroMetrix, Inc (United States) |
This growth is primarily driven by The increasing prevalence of diabetes cases & Rising aging population, Advancement in healthcare expenditure for diabetes, Growing awareness about diabetes and related nerve complications and Rise in R&D activities in drug discovery and development.
Globally, a noticeable market trend is evident Increasing Number of Mergers and Acquisitions by the Market Players
The Diseases & Therapeutic Areas sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Pfizer Inc. (United States), Janssen Pharmaceuticals, Inc. (Belgium), Eli Lilly and Company (India), Teva Pharmaceutical Industries (United States), Cephalon, Inc. (United States), MEDA Pharma GmbH & Co. KG (Germany), GlaxoSmithKline plc. (United Kingdom) and NeuroMetrix, Inc (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is consolidated in nature with major pharmaceutical players accounting for major market share. As the majority of the 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. For instance, In February 2018, Daiichi Sankyo Company, Limited announces the marketing application of the pregabalin, for peripheral neuropathic pain (PNP) 2 in Japan. This application is based on phase 3 clinical trial in patients with diabetic peripheral neuropathic pain (DPNP)3 and a phase 3 clinical trial in patients with postherpetic neuralgia (PHN)*4 carried out in Asia, including Japan (primary endpoints were achieved in both trials).
Key Developments in the Market:
In February 2019,Teva Pharmaceutical Industries Ltd., announced the launch of a generic version of Sabril®1 (vigabatrin) tablets, 500 mg in the US, the first generic version of Sabril® (vigabatrin) tablets to enter the US market.
In Aug. 2023 Nevro Corp. , a global medical device company delivering comprehensive, life-changing solutions for the treatment of chronic pain, today announced the publication of 24-month data from the SENZA Painful Diabetic Neuropathy (PDN) Randomized Controlled Trial (RCT), the largest RCT to evaluate spinal cord stimulation (SCS) to treat PDN, in Diabetes Research and Clinical Practice
Influencing Trend:
Increasing Number of Mergers and Acquisitions by the Market Players and Rapid Product Launches & Rise in the Number of Collaborations and Partnerships For The treatment of Diabetes neuropathy.
Market Growth Drivers:
The increasing prevalence of diabetes cases & Rising aging population, Advancement in healthcare expenditure for diabetes, Growing awareness about diabetes and related nerve complications and Rise in R&D activities in drug discovery and development
Challenges:
The strict regulatory scenario for drug approval in developed countries has been a challenge for the diabetic neuropathy market.
Restraints:
High Cost of Treatment for Diabetic Neuropathy and Side Effects associated with the Drugs may hamper the Market.
Opportunities:
Rising R&D Activities for Drug Discovery and Development & Increasing Government Supports in the form of funding Are Providing an Opportunity for the Market.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Diabetic Neuropathy Market
- Analysis about New Entrants in Diabetic Neuropathy Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Diabetic Neuropathy Study Sheds Light on
The Diabetic Neuropathy Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Diabetic Neuropathy industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Diabetic Neuropathy industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.