Dublin, April 22, 2024 (GLOBE NEWSWIRE) — The “Global Diabetic Neuropathy Treatment Market Size, Share & Trends Analysis Report by Disorder Type (Peripheral Neuropathy, Autonomic Neuropathy), Drug Class (NSAIDs, Capsaicin, Opioid), Distribution Channel, Region, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The global diabetic neuropathy treatment market size is expected to reach USD 7.28 billion by 2030 and is projected to grow at a CAGR of 7.72% from 2024 to 2030
The market is influenced by factors such as the increasing global prevalence of diabetes, advancements in therapeutic and diagnostic techniques, and growing awareness about the complications associated with the condition. With approximately 537 million adults affected by diabetes in 2022, a figure expected to rise to about 643 million by 2030 and further to 783 million by 2045, the market is set for significant growth. Key pipeline therapies, including LX9211, VM202, Ricolinostat, GRC 17536, CBD, VX-548, and LY3857210, contribute to this momentum.
Leading players such as Eli Lilly and Company and Pfizer Inc. are adopting strategies to strengthen their market positions, including expanding their presence through agreements with players in emerging economies and obtaining product approvals. Emerging players, such as Vertex Pharmaceuticals, are making strategic moves through collaborations and partnerships, focusing on specific areas of R&D. Vertex’s VX-548, with FDA’s Breakthrough Therapy Designation for treating moderate-to-severe acute pain, positions the company for significant advancements in the space.
The availability of new medications, promising improved safety and efficacy for diabetic peripheral neuropathy treatment, contributes to market growth. The launch of novel oral medicines with rapid activity and ongoing research on long-term cure using gene therapies are expected to fuel the market over the coming years, generating lucrative returns for companies.
Despite these positive trends, the market faces challenges. The knowledge of diabetic peripheral neuropathy among physicians is relatively low, leading to frequent misdiagnosis. This lack of awareness among healthcare workers results in inadequate therapy. In addition, the discomfort caused by subcutaneous or intravenous administration of the majority of treatments poses a hurdle to patient acceptance. Addressing these challenges is crucial for the sustained growth of the industry.
Diabetic Neuropathy Treatment Market Report Highlights
- Based on disorder type segment, the peripheral neuropathy segment led the market with the largest revenue share of 63.9% in 2023. Peripheral neuropathy is the most common form of diabetic neuropathy, affecting a majority of diabetic patients
- Based on drug class, the non-steroidal anti-inflammatory drugs (NSAIDs) segment held the market with the largest revenue share of 38.63% in 2023. One of the primary reasons NSAIDs are popular in diabetic neuropathy treatment is their ability to effectively manage pain and prescribes as first line of treatment
- Based on distribution channel, the hospital pharmacies segment led the market with the largest revenue share of 47.64% in 2023, owing to diabetic neuropathy high hospitalization rate
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $4.34 Billion |
| Forecasted Market Value (USD) by 2030 | $7.28 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Market Dynamics
Market driver analysis
- Increasing prevalence of diabetes
- Robust product pipeline
- Increasing investments in R&D
Market restraint analysis
- Stringent regulatory scenario
- Safety concerns with current therapies
Diabetic Neuropathy Treatment Market Analysis Tools
- Porter’s Five Forces Analysis
- PESTEL Analysis
Competitive Landscape
- Abbott
- Eli Lilly and Company
- Pfizer. Inc
- Janssen Pharmaceuticals, Inc
- Lupin Pharmaceuticals
- Astellas Pharma Inc
- Glenmark Pharmaceuticals Ltd.
- Boehringer Ingelheim GmbH
- McKesson Corp
- Novartis
For more information about this report visit https://www.researchandmarkets.com/r/hsx3ai
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- Global Diabetic Neuropathy Treatment Market
