Diabetic neuropathy treatment market is growing at a higher rate from the past decade and is also to continue the same pace throughout the review period. The market is to cross USD 5.718 billion by the year 2024. Nerve damaging due to the association of diabetes mellitus disorder is the so-called diabetes neuropathies. This affects the peripheral nerves such as sensory neurons, motor neurons, and autonomic nervous system. Also, several organs fail to function if the condition is not diagnosed. This treatment follows to reduce pain and symptoms and can also be prevented by changing dietary plans and doing exercise regularly.
- Growing incidences of diabetes along with rising geriatric population is a major factor driving the growth of the market. Increasing awareness towards the treatment procedures is accelerating the demand of the market eventually. Rise in the investments on the research institutes to develop quality medications is lavishing the growth of the market.
- However, the cost for treatment is a bit expensive is slightly to restrain the growth of the market. Rapid changes in economic strategies are also limiting the demand of the market.
- The emergence of latest technologies and launch of various devices to provide effective treatment is surging growth opportunities for the market. The rise in the disposable income in urbanized areas and the adoption of sedentary lifestyles are prompting the demand of the market.
On the basis of disorder type, the market is segmented into peripheral, autonomic, proximal and focal neuropathy. Peripheral neuropathy is having significant growth opportunities in the coming years.
Based on the treatment type, the diabetic neuropathy treatment market divisions are analgesic, antidepressants, anticonvulsant, radiotherapy, and physiotherapy. Analgesic type is witnessed to have the highest shares of the market.
Regional Analysis of the Global Diabetic Neuropathy Treatment Market
Geographically, the market is segmented into North America, Europe, Asia Pacific and Middle East & Africa. North America is accounted to hold the highest shares of the market by owing to the rise in the research and development institutes in the medical sector. The Asia Pacific is positioned second in dominating the shares of the market with the rise in the government support through funds. Europe and Middle East & Africa are elevated to the prominent growth rate in the foreseen years with the increasing awareness towards modern technology in treating diabetic neuropathies.
Companies dominating the market
Key players in the diabetic neuropathy treatment market are Abbott Laboratories, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Johnson & Johnson, GlaxoSmithKline plc., Lupin Limited, Glenmark Pharmaceuticals Limited, Depomed, Inc., Astellas Pharma Inc., and Pfizer Inc among others.
This research report includes following segmentation for the Global Diabetic Neuropathy Treatment Market size and forecast until 2023.
Diabetic Neuropathy Treatment Market Analysis - By Disorder
- Proximal Neuropathy
- Focal Neuropathy
- Peripheral Neuropathy
- Autonomic Neuropathy
Diabetic Neuropathy Treatment Market Analysis - By Treatment
- SNRIs (Selective Nor-epinephrine Reuptake Inhibitors)
- SSRIs (Selective Serotonin Reuptake Inhibitors)
- TCAs (Tricyclic Anti-depressants)
- NSAIDs (Non-steroidal Anti-inflammatory Drugs)
- Other Drugs
Diabetic Neuropathy Treatment Market Analysis - By Distribution Channel
Diabetic Neuropathy Treatment Market Analysis - By Geography
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- Rest of Asia-Pacific
- Rest of World
- South Africa
- Saudi Arabia
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