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HEALTHCARE & PHARMACEUTICAL

Diabetic Neuropathy Market Analysis by Disorder (Peripheral, Autonomic, Proximal, and Focal Neuropathy); by Treatment (Drugs, Transcutaneous Electrical Nerve Stimulation (TENS), and Others); and by End-User (Hospitals & Clinics, Retail Pharmacies, Online Pharmacy, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • DyAnsys, Inc. received US Food and Drug Administration (FDA) for first relief, a PENS (Percutaneous Electrical Neurostimulation) that can be used to treat the pain of diabetic neuropathy.

  • Medtronic plc declared its FDA approval for Intellis, a rechargeable neurostimulator, and Vanta, a recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy.

Global Diabetic Neuropathy Market Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~8%

Base Year Market Size (2022)

~ USD 5 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

 

The global diabetic neuropathy market is estimated to garner a revenue of about USD 9 Billion by the end of 2035 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of around USD 5 Billion in the year 2022. The surge in diabetes cases globally is one of the major factors anticipated to drive the growth of the market during the forecast period.  For instance, according to the Centers for Disease Control and Prevention, about 1 in 10 Americans have diabetes as of 2022. Moreover, up-surge in prevalence of unhealthy life-style, such as, consumption of sugary food, lack of exercise, smoking, and poor sleep schedule, among others, are anticipated to boost the market growth.

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The increasing obesity issue across the world is one of the major factors fueling the growth of the diabetic neuropathy market during the forecast period. Among children and young people of 2-19 years, over 1 in 6 people suffered from obesity, and 1 in 18 people lived with severe obesity during 2017-2018.

Global Diabetic Neuropathy Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Improper Diet in People – Consuming unhealthy foods like sugary drinks and processed and fried foods leads cause weight gain, obesity, and the development of chronic diseases. Also, eating an unhealthy diet leads to disorders including cardiovascular diseases, cancer, communicable and non-communicable diseases, and infections. All these elements are estimated to boost the market growth. As per the data collected, obesity ranges between 75%- 85% in women and 70%-75% in men.

  • Rising Population Rates - The world population increased to 7.8 billion in 2021 up from 7.3 billion in 2015.

  • Increasing Practice of a Sedentary Lifestyle -  Approximately 3.2 million deaths and 32.1 million DALYs (representing about 2.1% of global DALYs) each year are caused by insufficient physical activity.

  • Rising Awareness Regarding Diagnosis and Treatment – It was observed that 1.5 million new diabetic cases were diagnosed in 2018 in the U.S.

  • Elevating Demand for the Development of Better Neuropathy Drugs – Novel treatment options for chronic neuropathy pain was emerging using oxidative stress and antioxidants, HCN2 channels, and AAK1 inhibitors.

Challenges

  • High Cost of Treatment for Neuropathic Pain - The market's future is being hampered by the rising cost of the medications used to treat diabetic neuropathy. The availability of alternate treatments, such as radiotherapy and physiotherapy, it appears to be more convenient and results in better clinical outcomes for the patients. As per recent data, pharmacological therapy expenses each year and over the course are considered USD 13.80 for expert consultations and USD 10.50 for general practitioners.

  • Undiagnosed Cases of Diabetes

  • Lack of Access to People for Proper Medical Care

The global diabetic neuropathy market is segmented and analyzed for demand and supply by disorder into peripheral, autonomic, proximal, and focal neuropathy. Out of which, the peripheral neuropathy segment is anticipated to hold the largest market size by the end of 2035 on account of rising cases of nerve pain or traumatic injuries, infections, and metabolic problems causing nerve damage that leads to peripheral neuropathy. More than 62,000 traumatic brain injury-related deaths occurred in the U.S in 2020, accounting for about 170 deaths per day.

Global Diabetic Neuropathy Market Regional Synopsis

The North America diabetic neuropathy market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035 on the back of the rising prevalence of diabetes, increasing geriatric population, and growing healthcare expenditure on diabetes. As per estimations of the American Diabetes Association in 2018, the total cost of diagnosed diabetes was USD 327 billion of which USD 237 billion is spent on direct medical costs and USD 90 billion on reduced productivity.

diabetic neuropathy market share

Market Segmentation

Our in-depth analysis of the global diabetic neuropathy market includes the following segments:

 

 

          By Disorder

  • Peripheral Neuropathy
  • Autonomic Neuropathy
  • Proximal Neuropathy
  • Focal Neuropathy

 

 

           By Treatment

  • Drugs
  • Transcutaneous Electrical Nerve Stimulation (TENS)
  • Others

 

 

          By End-User

  • Hospitals & Clinics
  • Retail Pharmacy
  • Online Pharmacy
  • Others

Top Featured Companies Dominating the Global Diabetic Neuropathy Market

  • Hoffmann-La Roche Ltd.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Abbott Laboratories
  • Eli Lilly and Company
  • Johnson & Johnson Services, Inc.
  • GlaxoSmithKline plc
  • Lupin Limited
  • Glenmark Pharmaceuticals Limited
  • Assertio Holdings, Inc.
  • Astellas Pharma US, Inc.
  • Pfizer Inc.

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