Wilmington, Delaware, United States, Transparency Market Research, Inc., Sept. 26, 2024 (GLOBE NEWSWIRE) -- The diabetic neuropathy market (سوق الاعتلال العصبي السكري) was worth US$ 4.6 billion in 2023. A 5.5% CAGR is estimated from 2024 to 2034, leading to a market value of US$ 8.5 billion by 2034. Blood sugar management should be combined with supplements and complementary treatments for neuropathy. Many medications can be used to treat symptoms, including acupuncture. A healthcare professional should be consulted before beginning any new treatment or supplement.
Diabetic neuropathy can be diagnosed early through the identification of biomarkers. The development of diagnostic tools that allow early detection of neuropathy is ongoing, enabling effective management and intervention as soon as possible. Nerve damage caused by diabetic neuropathy can be repaired with stem cell therapy and regenerative techniques. The possibility of stem cells promoting nerve regeneration and restoring nerve function is being investigated by researchers in clinical trials and research investigations.
Access to healthcare services for people with diabetes and associated complications is improved by improvements in the healthcare infrastructure. The market expands by enhancing access to alternative treatment options, diagnostic centers, and specialty clinics. Government programs to reduce diabetes-related problems and enhance diabetic care may contribute to market expansion. Diabetic neuropathy early detection methods, diabetes prevention programs, and affordable treatments are some of these.
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Key Findings of the Market Report
- Based on disorder type, peripheral neuropathy is expected to drive growth in the diabetic neuropathy market.
- In terms of treatment type, drugs for diabetic neuropathy are expected to drive growth.
- Hospitals are expected to drive diabetic neuropathy market demand.
- In 2023, the most dominant region for diabetic neuropathy was North America.
Global Diabetic Neuropathy Market: Growth Drivers
- The increasing incidence of diabetes worldwide is the main factor propelling the market for treatments for diabetic neuropathy. The number of patients at risk of diabetic neuropathy is growing along with the number of people who have been diagnosed with diabetes.
- Technological advancements in medicine have made it possible to diagnose and detect diabetes neuropathy earlier. The ability to intervene and handle situations promptly drives the need for medicines to reduce symptoms and halt disease progression.
- The significance of controlling diabetes and its consequences, such as diabetic neuropathy, has been recognized by growing knowledge of early diagnosis and treatment. The expansion of the market is fueled by the fact that patients seek medical attention more frequently for symptoms.
- New therapeutic alternatives are being developed for diabetic neuropathy in the wake of ongoing research and development. Patient and healthcare professional options have been expanded through these advances.
- Pharmaceutical companies increasingly focus on patient-centric drug development, considering patient preferences, needs, and quality of life. With this approach, diabetic neuropathy treatments become more effective and tolerable, enhancing market growth.
Global Diabetic Neuropathy Market: Regional Landscape
- North America is expected to drive demand for the diabetic neuropathy market. The United States, in particular, has a high diabetes prevalence in North America. Diabetes neuropathy is a common disease that afflicts a vast number of people, fueling the need for treatments.
- Diagnostic centers and specialty clinics are available at cutting-edge hospitals throughout North America. Detection and control of diabetic neuropathy will be made easier by early detection and treatment alternatives.
- Several novel medical research centers are located in the area. People with diabetic neuropathy benefit from improvements in medical devices, medications, and diagnostic technologies.
- In North America, patient education and awareness campaigns about diabetes and its complications are highly valued. Early detection and aggressive treatment of diabetic neuropathy increase treatment requirements.
- In North America, strict regulatory systems guarantee the efficacy and safety of treatments for diabetic neuropathy. As a result, patients and healthcare professionals gain trust, increasing the rate at which authorized therapies are used.
- Many North American academic institutions and clinical research centers are involved in diabetic neuropathy treatment trials. Patients can benefit from state-of-the-art treatments by enrolling in these studies, which advance medical science in this field.
Global Diabetic Neuropathy Market: Competitive Landscape
To establish a strong position in the global diabetic neuropathy market, major players are undergoing clinical trials and gaining regulatory approval.
- Johnson & Johnson (Janssen Global Services, LLC)
- Boehringer Ingelheim GmbH
- NeuroMetrix, Inc.
- Eli Lilly and Company
- GlaxoSmithKline plc
- Lupin Limited
- Pfizer Inc.
- Astellas Pharma Inc.
- Glenmark Pharmaceuticals Ltd.
- Arbor Pharmaceuticals, LLC
- Depomed Inc.
Key Developments
- In September 2023, Neuralace Medical reported that enrollment in the study had reached its primary endpoint, paving the way for FDA approval and a potential stroke of luck for Parkinson's patients. Axon Therapy and conventional medical management (CMM) were randomized to 50 patients in the AT-PDN study, and sham treatments were given to 20 patients.
- In March 2024, NeuroMetrix, Inc. published a large study showing DPNCheck® and standard EKGs combined accurately detect diabetic peripheral neuropathy (DPN). As part of the study, Hayashi and colleagues examined 167 diabetic patients with Type 1 or Type 2 diabetes. Nerve conduction studies were considered the gold standard for DPN.
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Global Diabetic Neuropathy Market: Segmentation
By Disorder Type
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
By Treatment Type
- Drugs
- Analgesics
- Topical
- Capsaicin
- Others
- Opioids
- Morphine
- Others
- NSAIDs
- Ibuprofen
- Naproxen
- Others
- Antidepressants
- TCAs
- Amitriptyline
- Imipramine
- Others
- SNRIs
- Duloxetine
- Others
- SSRIs
- Citalopram
- Paroxetin
- Others
- Anticonvulsants
- Gabapentin
- Pregabalin
- Topimarate
- Others
- Other Drugs
- Radiotherapy
- TENS
- Others
- Physiotherapy
By Distribution Channel
- Hospitals
- Clinics
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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