Diabetic Neuropathy Market 2021: Report Highlights the Competitive Scenario with Impact of Drivers and Challenges
Diabetic neuropathy refers to the nerve damage caused due to diabetes. Diabetic neuropathy most often damages nerves in the legs and feet. However, it can injure nerve fibers throughout the body. Diabetic neuropathy is a common complication of both type 1 and type 2 diabetes. Increasing diabetic population and growing awareness among people about diabetes and related complications are some of the major factors that drive the diabetic neuropathy market. Types of diabetic neuropathy include peripheral neuropathy, autonomic neuropathy, proximal neuropathy, focal neuropathy, and other diabetic nerve damage. The peripheral diabetic neuropathy affects the feet and legs. It causes loss of sensation, and sometimes pain in the feet, legs, and hands. Autonomic diabetic neuropathy affects body functions such as heart rate, blood pressure, perspiration, and digestion. Proximal diabetic neuropathy affects thighs, hips, buttocks, and legs. Focal diabetic neuropathy affects the nerves, most often in the wrist, thigh, or foot. In addition, it also affects the nerves of the back, chest, and the nerves that control the eye muscles. Some of the factors that cause nerve damage in diabetes condition includes poor blood sugar control, kidney disease, smoking, excess weight, and length of time to have diabetes. However, anyone who has diabetes can develop neuropathy. Some symptoms of diabetic neuropathy are pain, tingling, numbness, and loss of feeling in the hands, arms, feet, and legs. The treatment options for diabetic neuropathy include drugs, radiotherapy, and physiotherapy.
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The global diabetic neuropathy market is categorized based on medication, radiotherapy, and physiotherapy. Based on medication, the report covers antispasmodic, antidepressant, and others. Based on radiotherapy, the market comprises transcutaneous electrical nerve stimulation (TENS).
North America has the largest market for diabetic neuropathy, followed by Europe. This is due to the increasing number of patients with diabetes, rise in research and development activities, increasing awareness among people about diabetes and related complications, and improved healthcare infrastructure in the region. The diabetic neuropathy market in Asia is expected to experience high growth rate in the next few years. This is due to rising R&D activities for drug discovery and development, increasing government supports in the form of funding, growing awareness about diabetic neuropathy, and developing healthcare infrastructure in the region. In addition, growing demographics and economies in the developing countries such as India, China, and Japan are expected to lead growth in the diabetic neuropathy market in Asia.
Increasing prevalence of diabetes cases, growing, aging population, rise in healthcare expenditure for diabetes, growing awareness about diabetes and related nerve complications, and rise in R&D activities in drug discovery and developmemt are the key factors driving the global diabetic neuropathy market. However, high failure rate in clinical trials, stringent regulatory requirements, and longer approval time for drugs are some of the factors restraining the growth for global diabetic neuropathy market.
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Increasing number of mergers and acquisitions, rapid product launches, and rise in number of collaborations and partnerships are some of the latest trends that have been observed in the global diabetic neuropathy market.
Key segments covered in this report are:
- By medication
- Antispasmodic
- Antidepressant
- Others
- By radiotherapy
- Transcutaneous electrical nerve stimulation (TENS)
- Physiotherapy
Top companies profiled in this report are:
- Pfizer Inc.
- Janssen Pharmaceuticals, Inc.
- Eli Lilly and Company
- ACTAVIS
- Cephalon, Inc.
- MEDA Pharma GmbH & Co. KG
- GlaxoSmithKline