What Does the Historical and Current Diabetic Neuropathy Market Size Trend Indicate?
The diabetic neuropathy market has seen considerable growth due to a variety of factors.
• In recent times, the market size of diabetic neuropathy has made substantial growth. It is anticipated to expand from $5.79 billion in 2024 to $6.27 billion in 2025, marking a compound annual growth rate (CAGR) of 8.3%. This upward trend during the historic period can be credited to a surge in global diabetes incidence, enhanced consciousness and diagnosis, progresses in diabetic treatment, burgeoning healthcare expenses, investment into research and development, and initiatives for patient education.
What Are the Future Growth Projections for the Diabetic Neuropathy Market in the Coming Years?
The Diabetic Neuropathy market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the diabetic neuropathy market's future indicate a substantial increase, with forecasts predicting that it will swell to $9.3 billion by 2029, experiencing a compound annual growth rate (CAGR) of 10.4%.
Factors contributing to this anticipated growth throughout the forecast period involve progress in neuroimaging, the growth of patient-centered healthcare, an increase in clinical trials, the continued rise in diabetes incidences, the entrance of precision medicine, the expansion in regenerative medicine, as well as patient advocacy and support programs. Major trends during this period are likely to include more collaborations in healthcare research, technological improvements in digital health solutions, advancements in diagnostic technologies, the emergence of neuroprotective therapies, implementation of individualized treatment plans, and the incorporation of artificial intelligence.
What Are The Core Factors Supporting Growth In The Diabetic Neuropathy Market?
The surge in diabetes cases is anticipated to propel the expansion of the diabetic neuropathy market. Diabetes, a chronic condition marked by the body's inability to process and store glucose properly, happens when the body either doesn't produce sufficient insulin, a hormone necessary for blood sugar control, or fails to utilize it correctly. Diabetic neuropathy refers to various forms of nerve damage possibly suffered by those with diabetes, each producing different symptoms. For example, as per the IDF Diabetes Atlas report released in August 2022 by the Belgium-based International Diabetes Federation, a global diabetic community that serves as an umbrella entity to over 230 national diabetic organizations, diabetes was the cause of 6.7 million deaths in 2021, translating to one death every five seconds. Presently, there are 537 million adults (20-79 years) or 1 in 10 people living with diabetes. Projections estimate this figure to rise to 643 million by 2030, and 783 million by 2045. Hence, the escalating prevalence of diabetes is fueling the expansion of the diabetic neuropathy market.
What Are The Major Segments Within The Global Diabetic Neuropathy Market?
The diabetic neuropathy market covered in this report is segmented –
1) By Disorder: Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy, Focal Neuropathy
2) By Drug Class: Analgesics, Anti-Depressants, Anti-Convulsants, Other Drug Classes
3) By Treatment: Drug Treatment, Radiotherapy, Physiotherapy, Other Treatments
4) By Distribution Channel: Online Distribution, Offline Distribution
5) By End-User: Hospitals, Specialty Clinics, Other End-Users
Subsegments:
1) By Peripheral Neuropathy: Distal Symmetric Neuropathy, Mononeuropathy, Polyneuropathy
2) By Autonomic Neuropathy: Cardiovascular Autonomic Neuropathy, Gastrointestinal Autonomic Neuropathy, Genitourinary Autonomic Neuropathy
3) By Proximal Neuropathy: Diabetic Amyotrophy, Lumbosacral Plexus Neuropathy
4) By Focal Neuropathy: Cranial Neuropathy, Cervical Radiculopathy, Other Focal Neuropathies
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Which Trends Are Expected To Transform The Diabetic Neuropathy Market?
Leading enterprises in the diabetic neuropathy market are offering groundbreaking products like the neuromodulation therapy device to augment treatment possibilities for patients afflicted with long-standing pain due to diabetic neuropathy. These devices provide non-surgical treatment methods by controlling nerve activity to alleviate pain, enhance nerve functionality, and support recuperation in patients with diabetic nerve injury. For instance, in January 2024, Neuralace Medical, Inc., a US-based firm providing non-pharmaceutical pain control treatment, secured approval from the Food and Drug Administration (FDA), a US federal agency, for their Axon Therapy for Chronic Painful Diabetic Neuropathy. Engineered to address Chronic Painful Diabetic Neuropathy (CPDN), the Axon Therapy device uses neuromodulation techniques to offer relief from pain correlated to diabetic neuropathy, indicating a substantial enhancement in pain control selections for patients dealing with this disease. The sanction underlines the device's safety and effectiveness, providing Neuralace with the green light to proceed with marketing and broaden the reach of efficient treatment resolutions for those impacted by CPDN.
Who Are the Key Players In The Diabetic Neuropathy Market?
Major companies operating in the diabetic neuropathy market include:
• Pfizer Inc.
• Eli Lilly and Company
• Daiichi Sankyo Company Limited
• Johnson & Johnson
• Depomed Inc.
• F. Hoffmann-La Roche AG
• NeuroMetrix Inc
• Lupin Limited
• Novartis AG
• Boehringer Ingelheim
• Regenacy Pharmaceuticals Inc.
• Merck & Co. Inc.
• Sanofi S.A.
• Teva Pharmaceutical Industries Ltd.
• AstraZeneca plc
• Bayer AG
• Bristol-Myers Squibb Company
• Merck KGaA
• Novo Nordisk A/S
• Takeda Pharmaceutical Company Limited
• Zydus Cadila
• Biogen Inc.
• Genentech Inc.
What Is The Most Dominant Region In The Diabetic Neuropathy Market?
North America was the largest region in the diabetic neuropathy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the diabetic neuropathy market during the forecast period. The regions covered in the diabetic neuropathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
