Diabetic Neuropathy Market

1
Global Diabetic Neuropathy Market Is Estimated To
Witness High Growth Owing To Rising Prevalence Of
Diabetes Increasing Research Activities

• Diabetic Neuropathy Market
• Market Overview
• Diabetic neuropathy is a type of nerve damage
  that occurs due to uncontrolled blood sugar
  levels in individuals with diabetes. The
  condition primarily affects the legs and feet,
  causing pain, tingling, and numbness. The
  market offers various products such as
  anticonvulsants,
• antidepressants, and opioids for managing the
  symptoms associated with diabetic neuropathy.
  These products aim to provide relief from pain
  and improve the quality of life for patients.
• Market Dynamics
• Two key drivers contribute to the growth of the
  Diabetic Neuropathy Market. Firstly, the rising
  prevalence of diabetes worldwide is fueling the
  demand for effective management of its
• complications, including diabetic
  neuropathy. According to the
  International Diabetes Federation, the global
  prevalence of diabetes is expected to
  reach 700 million by 2045. Secondly,
  increasing research activities in the field of
  diabetic neuropathy are leading to the
  development of innovative treatment options. For
  instance, Eli Lilly and Company, one of the key
  players in the market, has been actively
  researching and developing novel therapies for
  diabetic neuropathy.
• The global Diabetic Neuropathy Market is
  estimated to be valued at USD 3876.6 million in
  2023 and is expected to exhibit a CAGR of
  6.9 over the forecast period 2023-2030,
  as highlighted in a new report published by
  Coherent Market Insights.

2

• Segment Analysis
• One segment dominating the market for diabetic
  neuropathy is the anticonvulsants segment. These
  drugs are commonly used for managing
  neuropathic pain associated with diabetic
  neuropathy. Anticonvulsants such as pregabalin
  and gabapentin provide significant pain relief
  and are widely prescribed by healthcare
  professionals.
• PEST Analysis
• Political Governments are investing in
  diabetes management programs and initiatives
  to control the impact of diabetes on public
  health.
• Economic The growing economic burden of
  diabetes and its complications is driving
  the demand for effective treatment options for
  diabetic neuropathy.
• Social Increasing awareness among the general
  population about the complications of diabetes
  and the importance of early diagnosis and
  management is contributing to market growth.
• Technological Advancements in medical
  technology, such as wearable devices and remote
  patient monitoring, are enabling better
  management of diabetes and its complications.
• Key Takeaways
• The global Diabetic Neuropathy Market is expected
  to witness high growth, exhibiting a CAGR of 6.9
  over the forecast period, due to the increasing
  prevalence of diabetes and the growing focus on
  innovative treatment options.
• North America is the dominating region in the
  global diabetic neuropathy market, attributed to
  the high prevalence of diabetes and the
  availability of advanced healthcare
  infrastructure.
• Key players operating in the global
  diabetic neuropathy market include Eli Lilly
  and
• Company, GlaxoSmithKline, Pfizer, Johnson
  Johnson, and Janssen Pharmaceuticals. These
  companies are actively engaged in research and
  development activities to expand their product
  portfolios and cater to the growing demand for
  diabetic neuropathy treatment options.