Diabetic Neuropathy Treatment Market Qualitative Insights, Competition Landscape, Growth Rate, Development Trends, Prominent Players and Opportunity Assessment till 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Diabetic Neuropathy Treatment Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Diabetic Neuropathy Treatment Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Diabetic Neuropathy Treatment Market products.

The Global Diabetic Neuropathy Treatment Market is expected to cross USD 5.80 Billion by 2025 at a CAGR of 5.1%.The number of diabetic neuropathy cases is increasing globally, fueling market growth. Diabetic neuropathy treatment is the second-highest contributor to global disability and an estimated 30% to 40% of people across the globe live with diabetic neuropathy.Diabetic neuropathy is most common in low- and middle-income countries, and this disorder requires lifelong care to manage.

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Market Influencer

The rising prevalence of diabetic disorders and increasing reimbursement offered to patients by health insurance providers.Growing global geriatric population.Change in lifestyle habits leading to bad posture, which is increasing the prevalence of diabetic neuropathy disorder.Increasing research and development of new drugs to treat diabetic neuropathy disorder.Rising prevalence of diabetic neuropathy. For example, the prevalence of diabetic neuropathy in the fiscal year 2000 to 2030 will reach up to 366 million people in the US.Rising awareness of advanced treatments for diabetic neuropathy.Launch of a new medication to manage the symptoms of chronic diabetic neuropathy.

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Keyword market over the period 2019-2026.

The Keyword market report also focuses on the analysis on the basis of geography which includes North America (U.S. and Canada), Latin America (Mexico, Brazil, Argentina, Rest of Latin America), Europe (Germany, UK, France, Spain, Italy, NORDIC, BENELUX, Poland, Russia, Hungary, Rest of Europe), Asia Pacific (China, Japan, India, Australia, New Zealand, South Korea, Malaysia, Indonesia, Rest of Asia Pacific) and Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East and Africa). In U.S., the GDP per capita was valued at USD 62,606 in 2018 as compared to USD 59,895 marked in 2017, observed a growth of 4.53% in 2018 over previous year. Rise in GDP per capita has intensified the growth of this market in the country

Segmentation

By Disorder

Peripheral Neuropathy: The largest segment of the market, peripheral neuropathy afflicts almost 1% of the entire global population and is three times as likely to afflict women than men.Autonomic Neuropathy: This disorder generally afflicts elderly people. As of 2018, about 23 million people in the US had autonomic neuropathy and over a quarter of those afflicted could not perform daily activities.

Proximal Neuropathy: It is a rare type of nerve damage that occurs in hip, buttock, or thigh. It typically affects one side of the body and rarely spreads to the other side of the body. About 50% of patients suffering from diabetes have proximal neuropathy.Focal Neuropathy: This focal neuropathy disorder afflicts roughly 3 out of every ten individuals who have diabetes with over 100 million people affected globally.

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By Treatment

Drugs: The fastest-growing segment of the market, drugs are most widely used for the treatment of diabetic neuropathy. A rise in the number of FDA approvals for drugs to treat diabetic neuropathy is a key factor for the growth of the segment.Transcutaneous Electrical Nerve Stimulation (TENS): The largest segment, TENS is the preferred treatment for many diabetic neuropathies as they reduce inflammation and suppress immune system activity.Others: The other segment includes physiotherapy and electroacupuncture and various other treatment options for diabetic neuropathy.

By End-User

Hospitals and Clinics: The largest segment, hospitals, and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with diabetic neuropathy. Growing awareness and increasing efficiency of diabetic neuropathy treatment are projected to drive the growth of this segment during the forecast period.Retail Pharmacy: A small segment. This center provides immediate pain relief and rudimentary drugs for diabetic neuropathy.Online Pharmacy: Various drugs are used for the treatment of diabetic neuropathy which can be easily available in online pharmacy.Others: This segment includes home care and senior citizen centers.

By Region

Americas: The largest regional market. The prevalence of diabetic neuropathy is high in the Americas. The region also has a well-established healthcare industry. Out of the entire population, around 72.2% people in the US were suffering from diabetic neuropathy in 2017.Europe: An increasing geriatric population is leading to a rise in the number of diabetic neuropathy disorder cases.

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Asia-Pacific: The fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people afflicted with diabetic neuropathy due to bad posture brought on by lifestyle changes, aging, and genetic predisposition. Diabetic neuropathy is an increasing problem in Asia. Approximately 4000 patients were diagnosed with diabetic neuropathy in Korea in 2017, whereas in Japan, around 298 people were diagnosed with diabetic neuropathy in 2017.Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.

Key Players

Abbott Laboratories (US)

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)

Others.

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