Diabetic Neuropathy Treatment Market 2021
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.
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Major Key Players:
Some of the key players in the global diabetic neuropathy treatment market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Eli Lilly and Company (US), Johnson & Johnson (US), GlaxoSmithKline Plc (UK), Lupin Limited (India), Glenmark Pharmaceuticals Limited (India), Depomed, Inc (US), Astellas Pharma Inc (Japan), Pfizer Inc (US), MEDA Pharma GmBH & Co. KG (Germany).
Segment Analysis
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
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of diabetic neuropathy and rising per capita healthcare expenditure. The diabetic neuropathy treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European diabetic neuropathy treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The diabetic neuropathy treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of diabetic neuropathy and raising awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The diabetic neuropathy treatment market in the Middle East & Africa has been divided into the Middle East and Africa.
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