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Over the years, incidence of diabetes has increased globally. As of 2019, nearly one-tenth of the global population was afflicted by this deadly disease. Adoption of sedentary lifestyles and a decline in the consumption of a balanced diet are key factors driving the prevalence of diabetes. As a result, the number of patients seeking treatment has augmented. Various pharmaceutical companies are investing in anti-diabetic drugs to address this problem.
The introduction of novel drugs such as Nucynta ER and Lyrica is anticipated to be a major growth driver for the global diabetic neuropathy market. Moreover, rising insurance coverage to neuropathic pain drug companies will continue to augment market prospects. The global diabetic neuropathy market is poised to expand at a CAGR of 5.6% during the forecast period (2020-2025).
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Key Takeaways of Global Diabetic Neuropathy Market Study
- Treatment for peripheral neuropathy is poised to register positive growth, capturing more than half of the global diabetic neuropathy market share. Current limitations of diabetic neuropathy treatment and underdiagnoses of patients are anticipated to drive the segment’s growth. Present treatment is largely restricted to managing pain instead of regeneration of nerves.
- Proximal neuropathy will find substantial application of diabetic neuropathy formulations. This is attributed to an increasing patient pool suffering from type 2 diabetes. Projections indicate nearly a quarter of the global diabetic neuropathy market share, growing at a CAGR of 5.6% during the forecast period.
- Drugs – highly preferred treatment method – are poised to register maximum growth, expanding 1.4X and capturing more than four-fifth of the total revenue through 2025. This is attributed to rising consumption of antidepressant and analgesic categories. Analgesic, particularly opioids, is gaining significant traction as an effective painkiller.
- By distribution channel, online pharmacies are set to surge in popularity, attributed to increase in digital sales and a flourishing e-commerce industry. Several governments are supporting the concept of e-pharmacy, as it is convenient for patients in terms of cost and delivery. The segment is projected to expand 1.3x during the forecast period.
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Global Diabetic Neuropathy Market Segmentation
Fact.MR has studied the global diabetic neuropathy market with detailed segmentation on the basis of disorder, treatment, distribution channel and region.
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
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Molecular Development and Product Launches Act as Key Growth Levers
Key companies operating in the global diabetic neuropathy market are: Arbor Pharmaceuticals, LLC, Pfizer, Inc., Janssen Global Services, LLC, NeuroMatrix, Inc., Depomed, Inc., and Eli Lilly. These companies primarily concentrate on developing new drugs within their pipeline, owing to the burgeoning need for treatment of diabetics.
Janssen Global Services, LLC, the pharmaceutical arm of Johnson & Johnson, manufactures diabetic neuropathy drugs such as NUCYNTA, NUCYNTA ER, Duragesic and INVOKANA. These drugs contain canagliflozin and tapentadol which are important for regulating blood sugar levels. Likewise, Pfizer, Inc., produces Lyrica EH, Celebrex, Lyrica IH and TafamidisMeglumine.
Another prominent market player, Glenmark Pharmaceuticals Ltd., manufactures remoglifozin etabonate, belonging to the gliflozin class to treat type-2 diabetes. Additionally, the company has successfully out-licensed seven novel molecules to leading pharmaceutical giants such as Merck KGaA and remains the only company to execute multiple deals on novel molecules. An example of this is the development of the SGLT2 inhibitor which developed into remoglifozin.
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