Diabetic Neuropathy Market to Rise at 8.9% till 2026; Increasing Prevalence of Diabetic Patients Across the World Will Aid Market Growth

The global diabetic neuropathy market size is projected to reach USD 7.12 billion by the end of 2026. The increasing investment in the R&D of treatment options associated with the disease will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Diabetic Neuropathy Market Size, Share & Industry Analysis, By Disease Type (Peripheral, Autonomic, Proximal, and Focal), By Drug Class (Anti-Depressants, Anti-Seizures, Opioid, Non-Steroidal Anti-Inflammatory, and others), By Distribution Channel (Hospital Pharmacies, Retails Pharmacies & Stores, and Online Pharmacies), and Regional Forecast, 2019-2026,” the market was worth USD 3.61 billion and will exhibit a CAGR of 8.9% during the forecast period, 2019-2026.

Diabetic neuropathy is a type of medical disorder that normally occurs in people suffering from diabetes. The disorder damages nerves in legs and feet of a human body and may result in complications in walking. The severity of the disease has created a huge emphasis on the treatment of the disease. The increasing efforts as well as huge investment put in the R&D of efficient treatment options will bode well for the market in the coming years. Besides nerve damage, the condition also leads to severe pain in several parts of the body. The numerous complications associated with the disease have encouraged companies as well as organizations to focus on spreading awareness about the importance of early detection as well as diagnosis of the disease, in addition to encouraging precautionary measures. The presence of several healthcare companies focused on developing efficient treatment options will aid he growth of the market in the coming years.

Laurus Labs Limited Launches Generic Version of Lyrica Pregabarin

The severity of diabetic neuropathy has encouraged several researchers from across the world to focus on developing efficient treatment options associated with the disease. The presence of several large companies and the high investments by these companies has yielded newer ways to manage the symptoms as well as adverse effects associated with the disease. In July 2019, Laurus Labs Limited announced that it has launched newer version of its pain management capsules for patients suffering from diabetic neuropathy. The company introduced generic versions of Lyrica Pregabarin capsule in 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, & 300 mg strengths. Laurus’ latest products will have a huge impact on the growth of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/diabetic-neuropathy-market-100598

Growing Prevalence of Diabetes Will Provide Impetus to Market Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the high prevalence of diabetes in several countries across the world will create several opportunities for the companies operating in the market. The increasing adoption of sedentary lifestyle habits has contributed the growing demand for diabetes. According to the American Diabetes Association, the prevalence of diabetes globally is projected to reach 366 million in 2030.  Increasing number of diabetic patients will lead to a wider adoption of diabetic neuropathy treatment options in the forthcoming years. Moreover, consumption of unhealthy foods will also lead to the rise in the number of diabetic patients across the world.

Eli Lilly & Company and Pfizer Inc. are Among the Leading Companies Focused on Product Innovations

A few of the leading companies in the market are focusing on introducing newer products. Ali Lilly & Company and Pfizer Inc. are two of the leading companies who are currently focusing on product innovations.

List of Companies Profiled in the Report:

• Abbott
• Eli Lilly and Company
• Pfizer.Inc
• F. Hoffmann-La Roche Ltd
• GlaxoSmithKline plc.
• Janssen Pharmaceuticals, Inc.
• Lupin Pharmaceuticals, Inc.
• Astellas Pharma US, Inc.
• Others

Further Report Findings:

• The report analyzes the ongoing diabetic neuropathy market trends across five major regions. North America currently holds the largest market share.
• Driven by the high prevalence of diabetes, the market in North America will rise at a fast CAGR from its 2018 value of USD 2.19 billion.
• Asia Pacific will witness exhibit the highest CAGR owing to the adoption of novel drugs in several countries.

Industry Developments:

• July 2019: Averitas Pharma announced that the US FDA has accepted proposal to review a new application for Quentaza. The drug is used in the treatment of neuropathic pain associated with peripheral diabetic neuropathy.

The global diabetic neuropathy market size is segmented on the basis of: