Article -> Article Details
Title | Diabetic Neuropathy Treatment Market Projected to Deliver Greater Revenues By 2025 |
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Category | Fitness Health --> Addictions |
Meta Keywords | Diabetic Neuropathy Treatment Market |
Owner | vinit |
Description | |
Diabetic neuropathy is one of the most common causes of
neuropathy, a disease which damages the nerves. It is commonly seen in
diabetics, with a large section of patient suffering from loss of sensation and
weakness. The global diabetic neuropathy treatment market report by Market
Research Future (MRFR) has been analyzed by respected research analysts and
compiled with the collaboration of industry experts and subject matter experts. Market Overview The global diabetic
neuropathy treatment market is slated to display a CAGR of 5.1%
from 2019 to 2025 (forecast period). It can touch a value of USD 5.80 billion
by 2025. High prevalence of the disorder is one of the biggest drivers of the
market. Treatment of diabetic neuropathy is the second-biggest cause of
disability, with close to 30-40% people living with the disorder globally. The
large geriatric populace and the sedentary lifestyle are other drivers which
can cause the disorder. The increase noticed in the funding in research and
development of novel treatment methods can bode favorably for the market
growth. Awareness of new drugs and medications by patients can propel the
market demand considerably. Segmentation The global diabetic neuropathy treatment market is segmented
by disorder, treatment, and end-user. By disorder, it is segmented into peripheral, autonomic,
proximal, and focal. The peripheral segment had the largest market share due to
the chances of the disorder affecting women more than men. By treatment, it is segmented into drugs, transcutaneous
electrical nerve stimulation (TENS), and others. Drugs are touted to be the
fastest growing segment of the market during the forecast timespan. This can be
attributed to the large approval of drugs by regulatory agencies for the
treatment of diabetic neuropathy. On the other hand, the TENS segment can
experience rapid growth due to being the preferred mode for treatment by adults
with the disorder. By end-user, it is segmented into online pharmacy, retail
pharmacy, hospitals & clinics, and others. Hospitals and clinics are
expected to retain their position till 2025 due to the establishments being the
primary unit for treatment. Awareness of the disorder combined with
availability of treatment and medicines available at these centers can drive
the segment growth. Regional Analysis Asia Pacific (APAC), the Americas, Europe, and the Middle
East & Africa (MEA) are the regions discussed with respect to the market
report. The Americas is expected to be the largest region for the
global diabetic neuropathy treatment market due to its high prevalence. The
sophisticated healthcare framework backed by supportive reimbursement packages
for patients is expected to propel the market demand by a considerable degree
till 2025. According to a survey, nearly 72.2% of the people in the U.S.
suffered from the disorder in 2017 highlighting the large potential for growth
in the market. On the other hand, the Europe region is predicted to exhibit a
massive growth rate due to the large geriatric populace. The APAC region can display a robust CAGR during the
forecast period due to large number of patients affected by the disorder,
genetic predisposition, and aging. In Asia, Japan reported 298 cases, while
Korea accounted for 4,000 patients. Competition Outlook Hoffmann-La Roche Ltd, Astellas Pharma Inc, Abbott Laboratories,
MEDA Pharma GmBH & Co. KG, Glenmark Pharmaceuticals Limited, Pfizer Inc,
GlaxoSmithKline Plc, Johnson & Johnson, Lupin Limited, Eli Lilly and
Company, Depomed, Inc., and others are noteworthy participants of the global
diabetic neuropathy treatment market. Collaborations and new product launches
are strategies to be watched for during the forecast period. Industry News Local centers are using drug-free methods to treat patients
in order to alleviate the pain on taxpayers. The American College of Physicians
has recommended therapies such as spinal manipulation, photobiomodulation, and
multidisciplinary rehabilitation for the treatment of nerves damaged due to the
disease. |