+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
The diabetic neuropathy market is poised for significant growth, with a projected increase from US$ 4.21 billion in 2023 to an estimated US$ 8.1 billion by 2033, exhibiting a steady 6.61% Compound Annual Growth Rate (CAGR). This report provides a comprehensive outlook on the market, exploring key drivers, market dynamics, and the competitive landscape.
Diabetic neuropathy, resulting from diabetes-related nerve damage, is a rising concern globally. The symptoms range from mild to severe, affecting various bodily functions. Factors driving market growth include the increasing incidence of chronic diseases, rising diabetes cases worldwide, heightened health awareness, augmented medical research investments, and an expanding aging population.
The report identifies key factors influencing market demand, such as the availability of over-the-counter diabetic neuropathy treatments, including homeopathic and holistic approaches. Advances in research and development, particularly in therapies like infrared therapy, are expected to contribute to the market's expansion. However, challenges include high costs of therapeutics and the availability of alternative treatments.
Market Size (2023): US$ 4.21 Billion
Projected Market Value (2033): US$ 8.1 Billion
Global Market Growth Rate: 6.61% CAGR
Peripheral Neuropathy Market Share (2022): >50.1%
Proximal Neuropathy Segment Growth Rate: 5.41% CAGR
Peripheral Neuropathy Segment Growth Rate: 5.81% CAGR
· NeuroMetrix Inc.
· GlaxoSmithKline plc
· Johnson & Johnson (Janssen Global Services LLC)
· Lupin Limited
· Astellas Pharma Inc.
· Depomed Inc.
· Arbor Pharmaceuticals LLC
· Boehringer Ingelheim GmbH
· Eli Lilly and Company
· Glenmark Pharmaceuticals Ltd.
· Pfizer Inc.
Growing Prevalence of Diabetes Worldwide: Sedentary lifestyles and poor dietary habits contribute to the increasing global incidence of diabetes, driving demand for diabetic neuropathy treatments.
Increasing Investments in R&D: Supportive government initiatives and private sector investments in healthcare research are anticipated to boost the development of diabetic nerve treatment products.
New Findings in Research: Recent studies, like the one on low levels of amino acid serine, provide insights that may lead to innovative approaches for treating diabetic neuropathy.
New Companies in the Market:
Start-ups are actively contributing to the diabetic neuropathy care sector. Companies like Healables and Yostra Labs are leveraging technology and securing funds for research and expansion.
United States: Growing obesity rates make the U.S. a lucrative market for diabetic neuropathy treatments, supported by research investments and advanced healthcare infrastructure.
Japan: An expanding geriatric population in Japan increases the demand for diabetic nerve pain treatment, with a preference for natural treatment techniques.
Europe: Germany, Portugal, Ireland, and the United Kingdom emerge as prime markets due to increasing healthcare expenditure, a rising geriatric population, and the availability of novel treatments.
The diabetic neuropathy market is segmented based on disorders (peripheral, autonomic, proximal, focal), treatment types (drugs, physiotherapy), and distribution channels (hospitals, clinics, pharmacies).
Leading companies are focusing on research and development, as seen in initiatives like Neuralace Medical Inc.'s Axon Therapy study and Helixmith's gene therapy trial for diabetic neuropathy.
The global diabetic neuropathy market presents significant growth potential, driven by factors such as the increasing prevalence of diabetes, research investments, and technological advancements. However, challenges like high treatment costs and alternative therapies need to be addressed for sustained market development.
The diabetic neuropathy market is poised for significant growth, with a projected increase from US$ 4.21 billion in 2023 to an estimated US$ 8.1 billion by 2033.
The global market is projected to grow at a CAGR of 6.61% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65507
Published on :
Upcoming
Request a Free Sample Report
Speak to Analyst