Global Diabetic Peripheral Neuropathy Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Diabetic Peripheral Neuropathy Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Diabetic Peripheral Neuropathy belongs to the most common category of diabetic neuropathy, one of the most common chronic complications of diabetes, characterized by the progressive loss of nerve fibers, which predisposes people to limb pain or insensitivity, ulceration and amputation. The Diabetic Peripheral Neuropathy Treatment market refers to the market for products that provide relief, amelioration, and treatment of diabetic peripheral neuropathy.

Market Overview:

The latest research study on the global Diabetic Peripheral Neuropathy Treatment market finds that the global Diabetic Peripheral Neuropathy Treatment market reached a value of USD 1384.0 million in 2022. It’s expected that the market will achieve USD 2241.1 million by 2028, exhibiting a CAGR of 8.36% during the forecast period.

For Diabetic Peripheral Neuropathy Treatment products, it is inevitable to be affected by the epidemic. One is the supply level, such as the shortage of raw materials and parts. In the early stage of the outbreak, in order to avoid large-scale population movement and gathering, prevention and control measures such as home isolation and restrictions on people's travel were adopted. Therefore, for industry companies, the production and transportation of upstream APIs have been affected, and the supply of raw materials has been disrupted. Therefore, the company's production plans have been delayed. On the other hand, due to the impact of the new crown pneumonia epidemic, in order to prevent the further spread of the epidemic, the government issued travel restrictions and related isolation policies, which reduced the management efficiency of enterprises in the industry and also affected the company's production plan.

The second is the demand level. The impact of the epidemic on patients with diabetic peripheral neuropathy is comprehensive. On the one hand, 20% to 50% of patients diagnosed with COVID-19 during the pandemic had diabetes. Among people with COVID-19, those with diabetes have a 50% higher risk of fatal outcomes than those without diabetes, especially older adults with type 2 diabetes. In the context of increased mortality in diabetic patients, the demand for the prevention and treatment of neuropathy in diabetic patients is increasing, and the demand for medication is also increasing. On the other hand, during the epidemic, most of the hospital's rescue resources were concentrated on new crown patients, and patients with diabetic neuropathy reduced the number of visits to hospitals and clinics. In some countries, for patients with chronic diseases such as hypertension and diabetes, the amount of prescribed medication will be relaxed after evaluation by doctors, and the number of dispensing times will be reduced to ensure the long-term medication needs of patients. At the same time, some hospitals have opened the function of online follow-up consultation, and patients can purchase the medicines they need through online consultation and prescription.

The number of people with diabetes is increasing

With the improvement of people's living standards, the direct and indirect intake of added sugars is increasing. However, due to changes in the pace of life and work methods, the relative decline in physical labor and exercise makes the human body unable to consume the intake of sugars in time. When sugar cannot be consumed in time, the body's blood sugar rises rapidly, stimulating the body to release excess insulin, opening the channel for sugar to enter cells, and the excess sugar is converted into fat and stored in the body, which will not only lead to obesity, but may also increase type II diabetes and cardiovascular disease. and other chronic non-communicable diseases that seriously affect the health of residents.

High R&D costs

The reform of the medical and health system has entered a new stage, the intensive introduction of policies in the pharmaceutical industry and the increasingly fierce competition in the pharmaceutical R&D service market have brought new pressure to the company's new product development. In the 1980s, as the FDA continued to improve drug management regulations, the drug development process became increasingly complex. First, preclinical studies are performed. It mainly includes the confirmation of drug targets, the determination of lead compounds, the screening of active compounds, and the selection of candidates. Then, the steps of R&D of API synthesis process, toxicology research and formulation development are carried out. Then enter the clinical research, which can mainly include Phase I clinical trials, Phase II clinical trials, Phase III clinical trials, etc. New drug marketing approval and phase IV clinical studies are then carried out. According to relevant data, it generally takes 10 to 15 years for a new drug to be developed and marketed. In general, for industry companies, product development cycle is long and capital is large, which brings certain economic pressure to the daily operation of the company. Diabetic Peripheral Neuropathy Treatment's large investment in R&D funds and long cycle lead to low investment efficiency, which will bring certain obstacles to the company's capital operation. The high cost of research and development will be a challenge for the development of the industry.

Region Overview:

United States dominated the Diabetic Peripheral Neuropathy Treatment market in 2022, with a market share of 37.39%.

Company Overview:

Pfizer Inc. is one of the major players operating in the Diabetic Peripheral Neuropathy Treatment market, holding a share of 24.78% in 2022.

Pfizer Inc.

Pfizer is a multinational pharmaceutical and biotechnology company originating from the United States, with its operational headquarters in New York and its R&D headquarters in Groton, Connecticut. The company applies science and global resources to deliver innovative treatments that prolong and dramatically improve lives.

Eli Lilly

Eli Lilly is a global R&D-based pharmaceutical company headquartered in Indianapolis, Indiana, USA, dedicated to providing all of humanity with innovative drug-based healthcare solutions that make people's lives better. Longer, healthier and more energetic.

Segmentation Overview:

Among different product types, Pregabalin segment is anticipated to contribute the largest market share in 2028.

Duloxetine

Duloxetine, a balanced and potent serotonin and norepinephrine reuptake inhibitor, is an FDA-approved drug for the treatment of pain caused by diabetic peripheral neuropathy.

Pregabalin

Pregabalin, is a drug used to treat epilepsy, neuropathic pain, fibromyalgia, and generalized anxiety disorder. Lyrica is a derivative of the neurotransmitter gamma-aminobutyric acid and a potent gabapentin compound.

Capsaicin

Capsaicin is used in topical ointments and skin patches for pain relief, and topical creams containing capsaicin are used to treat peripheral neuropathic pain.

Application Overview:

The market's largest segment by application is the segment Hospital, with a market share of 61.71% in 2022.

Key Companies in the global Diabetic Peripheral Neuropathy Treatment market covered in Chapter 3:

Astellas Pharma Inc
Amneal
Novaremed Ltd
Sandoz
Eli Lilly
Teva Pharmaceutical Industries Ltd.
Mitsubishi Tanabe Pharma Corp
Grunenthal GmbH
Applied Therapeutics, Inc.
Helixmith
Reata Pharmaceuticals Inc
Medifron DBT Co Ltd
Cipla
Pfizer Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Diabetic Peripheral Neuropathy Treatment market from 2018 to 2029 is primarily split into:

Duloxetine
Pregabalin
Capsaicin
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Diabetic Peripheral Neuropathy Treatment market from 2018 to 2029 covers:

Hospital
Clinic
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)