What Is The Current and Historic Market Size Analysis Of The Diabetic Peripheral Neuropathy Market?
The diabetic peripheral neuropathy market has seen considerable growth due to a variety of factors.
• The market for diabetic peripheral neuropathy has seen substantial growth in the past few years. Expected to escalate from $3.51 billion in 2024 to $3.84 billion in 2025, the market will experience a compound annual growth rate (CAGR) of 9.4%.
Factors contributing to the growth during the historic period include an ageing population, increased incidence of diabetes, heightened healthcare spending, elevated awareness of diabetic complications, and the rise in healthcare infrastructure.
What Is The Forecast For The Diabetic Peripheral Neuropathy Market Size?
The diabetic peripheral neuropathy market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is on the horizon for the diabetic peripheral neuropathy market. It is predicted to balloon to a value of $5.43 billion in 2029, showcasing a compound annual growth rate (CAGR) of 9.1%.
The upswing in growth throughout the projected period can be associated with variables such as a rise in sedentary habits, amplified governmental initiatives and funding, escalation in the appearance of neuropathy risk factors, bettered precision in diagnosis, and enhanced backing for pre-emptive detection. Key trends during this forecast period encompass improvements in diagnostic tools, progression in treatment methodologies, increased funding for research and development, the rise of minimally invasive procedures, and a heightened emphasis on cooperative research and development.
What Are The Essential Drivers Behind The Growth Of The Diabetic Peripheral Neuropathy Market?
The upsurge in health complications related to obesity is anticipated to stimulate the development of the diabetic peripheral neuropathy market. Being a medical condition, obesity is defined by an extreme accumulation of body fat that might endanger health and elevate the risk of numerous chronic diseases. The escalation in health problems linked to obesity is attributed to amplified awareness, alterations in lifestyle, and an expanding requirement for preventive and therapeutic solutions, culminating in an augmented demand for healthcare. Diabetic peripheral neuropathy aids in managing obesity. It offers vital insights into nerve damage resulting from conditions related to obesity, directing targeted approaches to enhance the total well-being and life quality of patients. For example, the World Health Organization (WHO), a Switzerland-based specialized UN agency committed to global health, stated in March 2024 that 43% of adults aged 18 and above were classified as overweight in 2022, whereas 16% were diagnosed with obesity. Furthermore, 37 million children under the age of 5 were overweight. Out of the children and adolescents aged 5 to 19 years, more than 390 million were overweight, with 160 million enduring obesity. Thus, the escalation in health complications due to obesity is fuelling the growth of the diabetic peripheral neuropathy market.
How Is The Global Diabetic Peripheral Neuropathy Market Divided Into Key Segments?
The diabetic peripheral neuropathy market covered in this report is segmented –
1) By Disease: Type 2 Diabetic Peripheral Neuropathy, Type 1 Diabetic Peripheral Neuropathy
2) By Treatment: Pain Management Drugs, Gene Therapies
3) By Therapy: Antidepressants, Anticonvulsants
4) By Patient Population: Adult Patients, Geriatric Patients
Subsegments:
1) By Type 2 Diabetic Peripheral Neuropathy: Sensory Neuropathy, Motor Neuropathy, Autonomic Neuropathy
2) By Type 1 Diabetic Peripheral Neuropathy: Distal Symmetric Neuropathy, Mononeuropathy, Polyradiculopathy
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What Trends Are Reshaping The Future Of The Diabetic Peripheral Neuropathy Market?
Leading firms in the diabetic peripheral neuropathy market are turning their attention to cutting-edge technologies like NaV1.8 pain signal inhibitors. Their aim is to offer advanced, non-opioid solutions that elevate pain control and the overall life quality of patients. The NaV1.8 pain signal blocker is a unique pharmaceutical that obstructs the NaV1.8 sodium channel, namely a primary conveyor of pain signals in sensory neurons. This provides relief from both acute and neuropathic discomfort, without the need for opioid dependence. Taking Vertex Pharmaceuticals Incorporated as an example – in April 2024, this US biotech firm unveiled progress in its Suzetrigine pain initiative, launching a Phase 3 pivotal program specifically for managing pain related to diabetic peripheral neuropathy (DPN). Suzetrigine is a selective NaV1.8 pain signal blocker that has demonstrated encouraging findings in preceding research. Recently, for its applications in diabetic Peripheral Neuropathy (DPN) pain control, it received the breakthrough therapy designation from the Food and Drug Administration (FDA), a US governmental body.
Who Are the Key Players In The Diabetic Peripheral Neuropathy Market?
Major companies operating in the diabetic peripheral neuropathy market are:
• Pfizer Inc.
• Merck & Co. Inc.
• GlaxoSmithKline plc.
• Eli Lilly and Company
• Astellas Pharma Inc.
• Biogen Inc.
• Vertex Pharmaceuticals Incorporated
• Sun Pharmaceutical Industries Limited
• Lupin Pharmaceuticals Inc.
• Chemie Grünenthal GmbH
• Alkem Laboratories Limited
• Acorda Therapeutics Inc.
• Mitsubishi Tanabe Pharma Corporation
• NeuroMetrix Inc.
• Regenacy Pharmaceuticals Inc.
• Helixmith Co. Ltd.
• Aptinyx Inc.
• WinSanTor Inc.
• Sonnet BioTherapeutics Holdings Inc.
• OLYS Pharma Inc.
What Are The Regional Insights Into The Diabetic Peripheral Neuropathy Market?
North America was the largest region in the diabetic peripheral neuropathy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetic peripheral neuropathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
