Diabetic Neuropathy Treatment Market: Rising prevalence of Diabetic Neuropathy in Recent Years is Projected to Boost Market Growth at a Healthy CAGR of 5.80% During the Forecast Period of 2022 to 2030

Pune, India, May 2023/MRFR Press Release/- Market Research Future has published its Half-Cooked Research Report on the Global Diabetic Neuropathy Treatment Market.

Diabetic Neuropathy Treatment Market Highlights

According to MRFR analysis, the global diabetic neuropathy treatment market is expected to register a CAGR of 5.80% during the forecast period of 2022 to 2030 and was valued at USD 7,719.92 Million by 2030.

Diabetic neuropathy is one of the most common complications of diabetes. Patients suffering from diabetic neuropathy often report burning pain in foot. The rising prevalence of diabetic neuropathy can be seen worldwide. Around 83% people in the US are suffering from diabetic neuropathy. According to Japanese study around 298 people were diagnosed with diabetic neuropathy in 2017. The growth of the global diabetic neuropathy treatment market is driven by various factors such as an increasing global geriatric population, rising prevalence of diabetes, and poor fitness levels. However, high costs of surgery are expected to curb the growth of the global diabetic neuropathy treatment market.

The global diabetic neuropathy treatment market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of diabetic neuropathy and rising per capita healthcare expenditure. The diabetic neuropathy treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European diabetic neuropathy treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The diabetic neuropathy treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of diabetic neuropathy and raising awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The diabetic neuropathy treatment market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The global diabetic neuropathy treatment market has been segmented based on disorder, treatment, and end user.

The market, based on disorder, has been divided into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy. The peripheral neuropathy segment is likely to be the largest during the review period due to a growing aging population and increasing prevalence of peripheral neuropathy globally. Around 1.3 million Americans are diagnosed with peripheral neuropathy every year. The autonomic neuropathy segment is predicted to be the fastest-growing due to the rising prevalence of the disorder in the elderly population.  

The global diabetic neuropathy treatment market has been segmented, on the basis of treatment, into drugs, transcutaneous electrical nerve stimulation (TENS), and others. The drugs segment is expected to hold the majority share of the market. The drugs help increase muscle strength and quicken the recovery process. The transcutaneous electrical nerve stimulation segment is expected to be the fastest-growing due to the increasing use of this treatment for diabetic neuropathy. The cost of the treatment is also less as compared to other treatment types.

The end user segments of the market are hospitals and clinics, retail pharmacy, online pharmacy, and others. The hospitals and clinics segment is expected to hold the largest share of the market as these centers are the primary locations for patients receiving treatment and surgery.

Key Players

Some of the key players in the global diabetic neuropathy treatment market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Eli Lilly and Company (US), Johnson & Johnson (US), GlaxoSmithKline Plc (UK), Lupin Limited (India), Glenmark Pharmaceuticals Limited (India), Depomed, Inc (US), Astellas Pharma Inc (Japan), Pfizer Inc (US), MEDA Pharma GmBH & Co. KG (Germany).