Accelerating R&D activities by top pharmaceutical companies in creating anti-diabetic formulations aimed at treating 1/10th of global population will bode well for market. According to Fact.MR’s analysts, the global diabetic neuropathy market will exhibit brisk growth at approximately 5.6% CAGR over the duration of projection period (2020-2025). Moreover, the supplies of insulin and novel drugs have not been severely affected by the COVID-19 pandemic. Leaders in diabetic neuropathy market are exploring the whitespaces such as underdiagnoses of neuropathic patients.
“Prominent companies must divert funding towards drug development through escalated R&D undertakings,” finds Fact.MR
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Key Takeaways of Diabetic Neuropathy Market Study
- Use of proximal neuropathy in treating type 2 diabetes patients will gain traction during the projection period.
- Drugs are the most preferred type of treatment among healthcare professionals in diabetic neuropathy market.
- Peripheral neuropathy segment will capture about 50% share in the overall market stack.
- North America diabetic neuropathy market continues to generate about 2/5th of total demand.
Diabetic Neuropathy Market – Key Drivers
- Increasing product pipeline by established diabetic neuropathy drug manufacturers is fuelling the market growth.
- A large population pool of diabetic patients in developing nations such as India will propel the growth of diabetic neuropathy market during the forecast period.
- Limited healthcare infrastructure and poor dietary habits will drive demand in emerging Asian economies through 2025.
- Higher percentage of diagnosed patients and development of new therapies and drugs in North America will complement the growth of the regional market.
Diabetic Neuropathy Market – Key Impediments
- Processing of orders may be delayed in view of remote workforce and imminent threat of their safety amid COVID-19.
- Underdiagnoses of patients and limited treatment options in developing countries will restrain market growth over the forecast period.
Anticipated Impact of COVID-19 on Diabetic Neuropathy Market
One of the most vulnerable population groups during the ongoing COVID-19 pandemic are diabetic patients. According to World Health Organization (WHO), the average mortality rate from COVID-19 is the highest among diabetic patients, followed by hypertension patients. Hence, the significance of diabetic neuropathy has multiplied in the past three months. Diabetic patients have higher chances of inflammation and internal swelling due to COVID-19. Further, top producers of diabetic neuropathy market have reported minimal effects of the pandemic on their distribution and manufacturing capabilities. There will be no shortage of diabetic neuropathy drugs according to industry experts. Hence, the overall prospects of diabetic neuropathy market are positive both in terms of sales and supply chain management.
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Competition Landscape of Diabetic Neuropathy Market
The global diabetic neuropathy market is characterized by a highly consolidated competitive landscape. Some of the prominent companies in the global diabetic neuropathy market that are profiled in this Fact.MR report include, but are not limited to, Depomed, Inc., Arbor Pharmaceuticals, LLC, Glenmark Pharmaceuticals Ltd., Pfizer, Inc., Astellas Pharma Inc., Lupin Limited, Eli Lilly and Company, NeuroMetrix, Inc., Boehringer Ingelheim GmbH, Johnson & Johnson (Janssen Global Services, LLC), Merck KGaA, and GlaxoSmithKline Plc. Key stakeholders in diabetic neuropathy market are concentrating their efforts on new drug development. For instance, Janssen Global Services, LLC produces several diabetic neuropathy drugs including INVOKANA, Duragesic, and NUCYNTA ER.
About the Report
This 170-page study offers in-depth commentary on the diabetic neuropathy market. The study provides compelling insights on the diabetic neuropathy market on the basis of disorder type (autonomic neuropathy, proximal neuropathy, peripheral neuropathy, and focal neuropathy), treatment type (physiotherapy, radiotherapy, and drugs), and distribution channel (online pharmacy, retail pharmacy, clinics, and hospitals) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).