Diabetic Neuropathy Market to Reach US$5.718 Billion by 2024: Players Focus on Drug Development to Bolster Positions

Tuesday, June 27, 2017 Drug News
Email Print This Page Comment
Font : A-A+

ALBANY, New York, June 27, 2017 /PRNewswire/ --

The Global Diabetic Neuropathy Market is semi-consolidated in which

the prominent players hold limited share. The competition among the existing global and local manufacturers of diabetic neuropathy drugs is robust with most focused on research and development of better neuropathy drugs sans the complications and infections
associated with their use. Boehringer, for example, has collaborated with Eli Lilly to develop new drugs to help overcome the complications caused by diabetes.

Other popular strategies leveraged by the keen leading players in the global Diabetic Neuropathy Market are acquisitions. Novartis AG, for instance, acquired Australia-based Spinifex Pharmaceuticals, Inc., to grow its portfolio of neuropathic pain treatments.

Some of the prominent names operating in the global diabetic neuropathy market are Pfizer, Inc., Johnson & Johnson, Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Astellas Pharma Inc., Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Depomed, Inc., Glenmark Pharmaceuticals Ltd, and Arbor Pharmaceuticals, LLC. Pfizer, Inc., among them, leads the market due to its massive outreach and substantial spends in research and development in therapeutic areas. As per a report by Transparency Market Research, the global diabetic neuropathy market will likely expand at a 5.4% CAGR between 2017 and 2025 to reach a value of US$5.718 bn by 2024 from US$ 3.6 bn in 2016.

Expensiveness of Therapy Propels North America Market to Dominant Position 

Depending upon the type of disorder, the global diabetic neuropathy market can be segmented into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy. Among them, peripheral neuropathy accounts for maximum market share. Surpassing other segments by clocking a 5.7% CAGR from 2017 to 2025, the peripheral neuropathy is expected to hold on to its dominant position in the foreseeable future too on the back of high prevalence of diabetic neuropathy.

Based on geography, the key segments of the global diabetic neuropathy market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, of them, holds a leading share of 34.9% in the market mainly on account of the substantial number of diagnosed patients and the steep cost of therapy in the market. As a result most companies of diabetic neuropathy products are targeting the North America market.

Inquire for a sample of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2199

Lifestyle Changes Trigger Market Growth 

The most obvious driver of the global diabetic neuropathy market is the rising instances of diabetes caused by changing lifestyles and unhealthy dietary habits and patterns. As per WHO, about 422 were afflicted by diabetes in 2014. Other factors catalyzing growth in the market are the nod to novel drugs by FDA and other regulatory bodies and helpful reimbursement policies. "The FDA approved Nucynta ER for treating neuropathic pain caused by diabetes in 2015. Further, opioid drugs, namely morphine and methadone have also been approved to treat severe pain," informs the lead analyst of the TMR report.

Limited Effect of Drugs Crimps Growth 

Acting as a hindrance to the global diabetic neuropathy market, on the other hand, is the limited effect of therapies. Explains the lead analyst of the TMR report, "Only a quarter of patients given drugs for neuropathic pain have seen pain relief. In addition, inadequate diagnosis and incorrect understanding or selection of treatment options also serve to decrease the success of neuropathic pain treatment." Side effects and rising cost of diabetic neuropathy treatment drugs are also serving to restrain the market.

This review is based on the findings of a TMR report, titled, "Diabetic Neuropathy Market (Disorder Type - Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy, and Focal Neuropathy; Treatment Type - Drugs (Analgesic (Topical, Opioid, and NSAIDs), Antidepressants (TCAs, SNRIs, and SSRIs), and Anticonvulsant Drugs (Gabapentin, Pregabalin, and Topiramate), Radiotherapy (Transcutaneous Electrical Nerve Stimulation (TENS)), and Physiotherapy; Distribution Channel - Hospitals, Clinics, Retail Pharmacy, and Online Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."

Browse Related Research Reports: 

Retinal Surgery Devices Market [Equipment Type: Vitrectomy Packs, Vitrectomy Machines, Retinal Laser Equipment, Microscopic Illumination Equipment, Surgical Instruments (Cannulas, Forceps, Cutters, Cryoprobes, etc.) & Others (Retinal Tamponades, Sclera Buckle, etc.); Applications: Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole & Others (Eye infections and Eye injuries)] - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 http://www.transparencymarketresearch.com/retinal-surgery-devices-market.html Geriatric Medicines Market (Therapeutic Category: Analgesic, Antihypertensive, Statins, Antidiabetic, Proton Pump Inhibitor, Anticoagulant, Antipsychotic and antidepressant and Others; Conditions: Cardiovascular, Arthritis, Neurological, Cancer, Osteoporosis, Respiratory and Others, Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 http://www.transparencymarketresearch.com/geriatric-medicine-market.html

About Us: 

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us: Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Blog: http://www.tmrblog.com/

SOURCE Transparency Market Research



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Advertisement
Advertisement

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook